topic Re: Bailed a neighbor's child out --100 point drop in Understanding FICO® Scoring

Bailed a neighbor's child out --100 point drop

Anonymous — Tue, 08 Jan 2019 20:54:49 GMT

So a neighbor's child called me in the middle of the night and I bailed her out. Then my credit score dropped 100 points. Is this a scarlet letter? I don't see how this can be fairly evaluated, for example to determine when the issue is resolved, whether the bail affects the person paying for it.

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Tue, 08 Jan 2019 21:31:03 GMT

You'd need to be a lot more specific on what's going on here. Where are you seeing a 100 point drop? How did you bail them out, using a credit card? We need a lot more info here.

Re: Bailed a neighbor's child out --100 point drop

Gunnerboy — Wed, 09 Jan 2019 01:03:14 GMT

I assume a 100% utilization update could cause an immediate 100pt drop. Lender probably reported it before she showed up for her scheduled court date, so OP's card(s) didn't get refunded yet. Just guessing..

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Wed, 09 Jan 2019 01:32:00 GMT

Only the bond inquiry was listed, not as a loan. It was $1000 on a card that's paid off every month. It had already been paid. But even the $10k seems like it should not drop my score to much. There was no other change on my report.

Re: Bailed a neighbor's child out --100 point drop

Revelate — Wed, 09 Jan 2019 01:36:56 GMT

A single maxxed out tradeline even on any scorecard ever created wouldn't be a 100 point drop on any FICO algorithm ever created. Not even close.

Where are you getting your scores from?

I assume you have an inquiry and now 10k / some CL? What's your aggregate look like?

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Wed, 09 Jan 2019 02:25:23 GMT

The only way I could fathom a 100 point FICO score drop from maxing out a single trade line would be if it was one's only revolver, meaning their individual [maxed out] utilization was also their aggregate utilization.

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Mon, 14 Jan 2019 18:53:43 GMT

Not sure about the lingo. I'm out of free looks using my credit cards. I don't think I have missed a payment during my lifetime. Just paid off a mortgage last May. It says I'm using 20% of my credit. I made a 5K payment and got an e-mail notice my score dropped lower. I suspect I may be groomed for purchasing some monitoring service by an algorithm. I froze all the credit bureaus. Equifax was always frozen because they're especially creepy and I hope they don't make money from me. I can imagine obsessing over this so I'm going to ignore it. Maybe Congress should look into this business model. Like that Black Mirror episode "Nosedive", on Netflicks. Bye bye

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Mon, 14 Jan 2019 20:45:50 GMT

People here can help you better if you get a three-bureau report along with your three FICO 8 scores. Otherwise we don't know what your current reports look like nor do we know what scoring models were being used (many free scores use non-FICO models, which are worthless).

You can get the 3B reports and score I describe above for $1 with the trial offer at Credit Check Total.

Re: Bailed a neighbor's child out --100 point drop

Kree — Mon, 14 Jan 2019 21:42:13 GMT

@Anonymous wrote:
Only the bond inquiry was listed, not as a loan. It was $1000 on a card that's paid off every month. It had already been paid. But even the $10k seems like it should not drop my score to much. There was no other change on my report.

Could you please clarify what you mean by "bond inquiry"? Thanks.

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Tue, 15 Jan 2019 04:56:51 GMT

It was a Bad Boy Bail Bond inquiry

Re: Bailed a neighbor's child out --100 point drop

Kree — Tue, 15 Jan 2019 14:15:54 GMT

@Anonymous wrote:
It was a Bad Boy Bail Bond inquiry

Thanks, I thought you were referring to a class of inquiry I hadn't heard of before. You are talking about a regular inquiry, but it was from this bond company right?

Re: Bailed a neighbor's child out --100 point drop

Anonymous — Sat, 26 Jan 2019 04:43:26 GMT

Yes a bond company. Seems fuzzy. They did not report credit extension. Maybe an algorithm trying to make a guess.