topic Re: 76pt decrease.. ouch in Understanding FICO® Scoring

76pt decrease.. ouch

Anonymous — Sun, 13 Oct 2019 20:41:08 GMT

Ouch.. I had to let a card report a high balance this month due to unforseen circumstances. I'm using 24% of my entire credit line..

Woke up to this saddie.

Re: 76pt decrease.. ouch

Jannelo — Sun, 13 Oct 2019 21:46:21 GMT

Wow! It decreased that much? That seems excessive. You aren't maxed out on the card by any stretch.

Re: 76pt decrease.. ouch

SouthJamaica — Sun, 13 Oct 2019 22:49:15 GMT

@Anonymous wrote:
Ouch.. I had to let a card report a high balance this month due to unforseen circumstances. I'm using 24% of my entire credit line..
Woke up to this saddie.

It makes no sense that you would lose 76 points for that. There must be a glitch, or something else must have happened.

Re: 76pt decrease.. ouch

grower1 — Sun, 13 Oct 2019 23:02:23 GMT

I'm also expecting a big temporary loss of points. I downgraded my BCP yesterday to the no AF version, and today I see a refund for $50 credited to my account.

Since this is my AZEO card, it had left $5 to report, so now all cards will report as $0 due to the AF refund. The statement closed today, so there is no way for me to quickly charge something to fix it

Re: 76pt decrease.. ouch

Jnbmom — Sun, 13 Oct 2019 23:53:55 GMT

I agree 76 points for 24% makes zero sense, unless your overall limits are extremely low something else is going on or a glitch which is doubtful.

Of course overall profiles are vastly different, but dh’s had a card report from 0% to 34% on card , 7 point loss, but overall utilization went from 3% to 5%, so that didn’t cause the hit .

Re: 76pt decrease.. ouch

Trudy — Mon, 14 Oct 2019 01:20:51 GMT

If you haven't pulled your annual free credit report in the last year I suggest you do so. However, this looks like the EX subscription alerts and you can compare the report before the loss to the date you had the 76 pt loss. I, like others can't imagine a 76 pt loss for that UTL. So if this is EX and you have daily reports, print them and review side by side because something else likely occurred to cause such a loss.

Re: 76pt decrease.. ouch

BallBounces — Mon, 14 Oct 2019 02:55:02 GMT

I hope the OP comes back to discuss further. 76 points for that specific change is UTL is certainly beyond the norm or anything I have seen.

Re: 76pt decrease.. ouch

HeavenOhio — Mon, 14 Oct 2019 15:01:00 GMT

@Anonymous, which site is giving you this score?

Re: 76pt decrease.. ouch

GApeachy — Mon, 14 Oct 2019 15:09:17 GMT

@HeavenOhio wrote:
@Anonymous, which site is giving you this score?

Looks like Experian.

Re: 76pt decrease.. ouch

GApeachy — Mon, 14 Oct 2019 15:10:58 GMT

@Anonymous wrote:
Ouch.. I had to let a card report a high balance this month due to unforseen circumstances. I'm using 24% of my entire credit line..
Woke up to this saddie.

Would like to see what's posted in your Overview. That's from Experian, right?

Re: 76pt decrease.. ouch

Anonymous — Mon, 14 Oct 2019 15:26:01 GMT

This is with Experian yes. I will be pulling all 3 reports on the 23rd for $1 (cct).

Re: 76pt decrease.. ouch

SouthJamaica — Mon, 14 Oct 2019 17:20:27 GMT

@Anonymous wrote:
This is with Experian yes. I will be pulling all 3 reports on the 23rd for $1 (cct).

I see that your signature shows 6 accounts, but Experian shows only 4 open accounts. Do you have any closed accounts which still have balances? If so that could be what's killing your score, as those are sometimes reported as maxed out cards.

Re: 76pt decrease.. ouch

BallBounces — Mon, 14 Oct 2019 18:29:49 GMT

@SouthJamaica wrote:
@Anonymous wrote:
This is with Experian yes. I will be pulling all 3 reports on the 23rd for $1 (cct).

I see that your signature shows 6 accounts, but Experian shows only 4 open accounts. Do you have any closed accounts which still have balances? If so that could be what's killing your score, as those are sometimes reported as maxed out cards.

Nice thought. Going above 89% might result in that sort of drop ... maybe.

Re: 76pt decrease.. ouch

Anonymous — Mon, 14 Oct 2019 19:33:35 GMT

@BallBounces wrote:
@SouthJamaica wrote:
@Anonymous wrote:
This is with Experian yes. I will be pulling all 3 reports on the 23rd for $1 (cct).

I see that your signature shows 6 accounts, but Experian shows only 4 open accounts. Do you have any closed accounts which still have balances? If so that could be what's killing your score, as those are sometimes reported as maxed out cards.
Nice thought. Going above 89% might result in that sort of drop ... maybe.

My NFCU and Amex have yet to report as open accounts. Zero closed accounts.

Re: 76pt decrease.. ouch

SouthJamaica — Tue, 15 Oct 2019 00:48:43 GMT

@Anonymous wrote:
@BallBounces wrote:
@SouthJamaica wrote:
@Anonymous wrote:
This is with Experian yes. I will be pulling all 3 reports on the 23rd for $1 (cct).

I see that your signature shows 6 accounts, but Experian shows only 4 open accounts. Do you have any closed accounts which still have balances? If so that could be what's killing your score, as those are sometimes reported as maxed out cards.
Nice thought. Going above 89% might result in that sort of drop ... maybe.
My NFCU and Amex have yet to report as open accounts. Zero closed accounts.

OK well I suggest you carefully go over your report from the day the score dropped and the report from the day before, to try to hone in on what caused the drop.

Re: 76pt decrease.. ouch

Drwaz99 — Tue, 15 Oct 2019 10:37:25 GMT

As everyone else has suggested, there has to be another reason why there was such a dramatic drop. 76 pts is A LOT for just one revolver jumping to ~36%. To use as a comparison: My CFU posted a ~31% balance overnight (it was at 0% and I also went from 1% to ~9% agg utility) and my Experian only dropped 6 pts. My file is pretty thin, I am not AZEO (Barclays is showing a small balance) but I also have a 18K AU with no balance on it that's not shown in my sig.

Re: 76pt decrease.. ouch

Anonymous — Tue, 15 Oct 2019 12:24:05 GMT

@SouthJamaica wrote:
OK well I suggest you carefully go over your report from the day the score dropped and the report from the day before, to try to hone in on what caused the drop.

Agreed, because the alert reason received (increase on that one card with overall low utilization) is not the reason for the score drop provided at the time, a very common misconception on this forum that they're always related. It seems MF isn't the only source of this misleading practice.

Re: 76pt decrease.. ouch

BallBounces — Tue, 15 Oct 2019 18:56:46 GMT

Unless I am mis reading, it also sounds liek the OP has:

A very young AoYA

A very young AAoA

A flury of INQs.

New accounts, New INQs, and reduced AAoA, along with threshold and number of revolvers reporting could do it on a young thin file.

Re: 76pt decrease.. ouch

NRB525 — Thu, 17 Oct 2019 06:57:21 GMT

The image shows “no loan activity” and your Self-Builder loan in your siggy says paid off.

When did that installment loan drop from reporting? Have you already gotten the score hit from “no installment loan”?

Re: 76pt decrease.. ouch

Anonymous — Mon, 21 Oct 2019 03:58:45 GMT

Found out why.. I booked an AirBNB back in March of this year and it turned out to be a scam.. drove 12 hours only to find a house belonging to a very confused family as to why I had a key (not the right one) for their house. Took pics/video evidence and had the homeowner write a statement and had it notarized. Disputed with CapOne and now in October.. they ruled against me.

My Cap One secured is now overlimit by $475. I will be paying it in full before the next statement. Will my score recover?