topic Re: FICO drop of 78 pts in Understanding FICO® Scoring

FICO drop of 78 pts

QCS123 — Sun, 07 Oct 2018 22:51:06 GMT

What kind of things can drop your score by 78pts? My DH had a score of 714 (hard fought to get there) and suddenly it's 636?

The only things that have changed in the last two months:

He has two AMEX accounts (one business and one regular) both have an approx $4000 limit and one is at $1800 and the other balance is at $2110. They have risen over the last two months and are about to be paid off or broughts down to a few hundred dollars each.

The other thing that may have happened is that a CO may have updated his account, they seem to update it monthly even though it's been five years.

Re: FICO drop of 78 pts

CreditCuriosity — Sun, 07 Oct 2018 23:25:04 GMT

If his CO is updating monthly and has been since getting in the 700's that wouldnt be it nor the balances.. Has he checked his report recently for anything new popping up?

Re: FICO drop of 78 pts

Anonymous — Mon, 08 Oct 2018 02:36:02 GMT

@QCS123
What kind of things can drop your score by 78pts? My DH had a score of 714 (hard fought to get there) and suddenly it's 636?

What is the source of these scores?

Re: FICO drop of 78 pts

Anonymous — Wed, 10 Oct 2018 18:05:24 GMT

I have an old, old collection that is due to fall off in two years. A few months ago they tried to re-age it, moving my date of default date up to January 2018 instead of May 2013. Ny scores took a nosedive (well - as much as alredy low scores can nosedive) bit it was very easy to get fixed with an online dispute. Make sure this has not happened to your hubby.

Re: FICO drop of 78 pts

QCS123 — Fri, 19 Oct 2018 07:25:51 GMT

The Scores are from MyFico

Ill check the report towards the end of the month to see if anything is being re-aged or changed in anyway.

The only other thing I noticed is that he has 4 credit cards all with fairly lower limits (750, 1,000, 4,000 and 4,000). If you just look at those and exclude the accounts he is an AU on the utilization is pretty high (40ish%). I added him to my cards to give him a higher overall CL. My cards that he is an AU on are 10K, 10k, 10k, 15.7k. So not sure if that is a factor or not...