topic Re: Experian - 64 point DROP! in Understanding FICO® Scoring

Experian - 64 point DROP!

DCnDC — Tue, 03 Dec 2019 19:49:58 GMT

My husband has been holding onto an 850 FICO 08 with Experian for quite a while now. We refinanced in October, so had a new mortgage account report and a first mortgage and equity loan get paid off. When the new account reported, he dropped 4 points. When the first mortgage got paid, he dropped another 4 points. We paid off a couple of credit cards, typically keep one with a small balance. The equity loan reported as paid, then all of a sudden a 64 point drop. Just dropped another 8 points a few days ago, which he is now reporting all credit cards as zero. Is this normal? I’m having a hard time following the alerts and the score decrease - and while I knew he’d take a hit for the AoYA resetting and having all cards at zero, I didn’t expect to see a loss of 80 points from October til now. Granted he’s still at 770, but wow!!

Definitely going to have a credit balance report this month to see how much he recovers...

Re: Experian - 64 point DROP!

Anonymous — Tue, 03 Dec 2019 22:25:59 GMT

AoNA penalty

all revolvers $0 penalty

AAoA lowered penalty

yep it's normal.

Re: Experian - 64 point DROP!

DCnDC — Tue, 03 Dec 2019 22:33:18 GMT

Ok, I guess the high number just threw me off. Whew. Thank you!

Re: Experian - 64 point DROP!

Anonymous — Wed, 04 Dec 2019 10:00:12 GMT

The upside to the situation is that a 770 is still excellent and nothing to worry your creditors, especially if they pull his report and see why the score dropped. And over time, the scores will increase again both from time and from balance management (letting a balance report on a card and paying on the new loan).