topic Re: FICO SCORE - CRAZYNESS in Understanding FICO® Scoring

FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 07:43:02 GMT

Hey guys, shoudn't be messing since I just got that cool approval. But I was wondering why my FICO score changes every other month 40-70pts. I do have a short credit history and large balances on my Amex Platinum. But I pay in full and never carry over. Below are the pics of the change from October to January.

774701?!?

Re: FICO SCORE - CRAZYNESS

FireMedic1 — Sun, 19 Jan 2020 09:20:24 GMT

How many cards are you talking about that you PIF every month. Have 1 report a small balance. Never PIF all of them. Yes that is whacky.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 09:29:55 GMT

I pay them all in full. But I'll let one ride a small balance and let you now how it goes.

@FireMedic1 wrote:
How many cards are you talking about that you PIF every month. Have 1 report a small balance. Never PIF all of them. Yes that is whacky.

Re: FICO SCORE - CRAZYNESS

Anonymous — Sun, 19 Jan 2020 09:34:31 GMT

@californiaboy935 There are three major credit bureaus that store consumer credit data that is used to calculate FICO scores; they are Equifax, Experian, and TransUnion. The 774 score is an Experian score while the 701 is an Equifax score. Since the bureaus evaluate the same data a bit differently, and they also operate on different timelines; it would be pointless to offer an opinion just on those two pieces of data. If you want an informed analysis and opinion, present the scores over time as calculated by the same credit bureau.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 09:35:42 GMT

One sec will do.

@Anonymous wrote:
@californiaboy935 There are three major credit bureaus that store consumer credit data that is used to calculate FICO scores; they are Equifax, Experian, and TransUnion. The 774 score is an Experian score while the 701 is an Equifax score. Since the bureaus evaluate the same data a bit differently, and they also operate on different timelines; it would be pointless to offer an opinion just on those two pieces of data. If you want an informed analysis and opinion, present the scores over time as calculated by the same credit bureau.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 09:41:37 GMT

April 2019 - Ex: 700 Eq:715 Tu: 656

June 2019 - Ex: 755 Eq: 742 Tu: 701

October - Ex: 647 Eq: 770 Tu: 801

January - Ex: 774 Eq: 718 Tu: 731

That is my delema haha.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 09:42:03 GMT

@MaizeandBlue

Re: FICO SCORE - CRAZYNESS

Anonymous — Sun, 19 Jan 2020 09:52:50 GMT

The fluctuations could be based on any number of things such as both individual and aggregate utilization which you didn't provide. But I would consider these reasons as the most likely for the fluctuations:

(1) If you allow your cards to report to the bureaus at their maximum balances you will be penalized (max balance is 88.9% or more of credit limit). You should aim to not let any card report to the bureau at over 28.9% utilization.

(2) If you allow more than one-third or one-half of your credit cards to report balances in any month your scores will be penalized (the 1/3 or 1/2 threshold varies by profile and credit bureau).

(3)You're opening new credit cards and being hit with new account penalties.

Re: FICO SCORE - CRAZYNESS

VanderSnoot — Sun, 19 Jan 2020 11:57:34 GMT

Are these all FICO 8 scores? I can see the one on the right in the OP is (701), but not necessarily the one on the left (774):

@californiaboy935 wrote:
774701?!?

Also, when you listed the scores in detail, you said your OCT EQ was 770 when we know it was 701 from the OP.

@californiaboy935 wrote:
Below are the pics of the change from October to January.

774701?!?

@californiaboy935 wrote:
April 2019 - Ex: 700 Eq:715 Tu: 656
June 2019 - Ex: 755 Eq: 742 Tu: 701
October - Ex: 647 Eq: 770 Tu: 801
January - Ex: 774 Eq: 718 Tu: 731

I just want to make sure we're looking at true FICO 8s for the three CBs. Scores from Credit Karma/Credit Sesame are not FICO 8s and tend to fluctuate a lot.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Sun, 19 Jan 2020 15:13:51 GMT

They are off Experian? Not sure how to check if its FICO score 8. Maybe

Re: FICO SCORE - CRAZYNESS

thornback — Sun, 19 Jan 2020 15:30:40 GMT

FICO8s are provided by the Experian service.

You'd have list what changes occurred on your credit reports in between each score update. Your Experian score updates daily - so that makes it much easier to figure why it fluctuated.

But your Equifax only updates monthly, so we'd have to evaluate all the activity that took place throughout the month to determine why the score changed. Activity affecting scores may be utilization, new accounts, old closed accounts dropping off, inquiries, new negatives, updates to delinquent accounts, etc. - or any combination of the aforementioned.

My guess is utilization being at its high (on Equifax) at the time your EQ score updated.

Re: FICO SCORE - CRAZYNESS

SouthJamaica — Sun, 19 Jan 2020 16:47:58 GMT

@californiaboy935 wrote:
Hey guys, shoudn't be messing since I just got that cool approval. But I was wondering why my FICO score changes every other month 40-70pts. I do have a short credit history and large balances on my Amex Platinum. But I pay in full and never carry over. Below are the pics of the change from October to January.

774701?!?

FICO score "utilization" is based on your reported balance, which is usually your statement balance. The fact that you pay them off in full each month after the statement cuts, while great for your payment history, has no bearing on your reported utilization.

"Utilization" is a huge scoring factor.

Re: FICO SCORE - CRAZYNESS

Remedios — Mon, 20 Jan 2020 01:07:24 GMT

@californiaboy935 wrote:
April 2019 - Ex: 700 Eq:715 Tu: 656
June 2019 - Ex: 755 Eq: 742 Tu: 701
October - Ex: 647 Eq: 770 Tu: 801
January - Ex: 774 Eq: 718 Tu: 731

That is my delema haha.

801 in october when you would of had 11 months of credit history 😐

I'm not sure which and whose report you're looking at, honestly

Re: FICO SCORE - CRAZYNESS

Remedios — Mon, 20 Jan 2020 01:10:28 GMT

801 doesnt happen with a year worth of history. It just doesnt.

OP stated right now they have 14 months of history, so in October that would have been 11

If I ask about AU accounts, I'm sure they will show up suddenly.

Regardless, not possible.

Re: FICO SCORE - CRAZYNESS

OmarGB9 — Mon, 20 Jan 2020 05:35:37 GMT

@Remedios wrote:
@californiaboy935 wrote:
April 2019 - Ex: 700 Eq:715 Tu: 656
June 2019 - Ex: 755 Eq: 742 Tu: 701
October - Ex: 647 Eq: 770 Tu: 801
January - Ex: 774 Eq: 718 Tu: 731

That is my delema haha.

801 in october when you would of had 11 months of credit history 😐
I'm not sure which and whose report you're looking at, honestly

Maybe OP made a typo. Maybe it was supposed to be 701 again instead of 801.

OP, as has been mentioned, we need details of your accounts and everything else on your report in order to begin trying to give you answers.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Mon, 20 Jan 2020 05:52:16 GMT

I've been an authorized user on my dads account. Not sure what information to give.

Yes was a typo. lmao!

Average Age: 11 mos Total Age: 1 Year 4 mos

Credit Mix: Bank Issued/Yes Revolving Accts./Yes

Accounts with Balances: 1

Revolving Acct Balance: $30,471

------------------------------------------------------------

April 2019 - Ex: 700 Eq:715 Tu: 656

June 2019 - Ex: 755 Eq: 742 Tu: 701

October - Ex: 647 Eq: 770 Tu: 701

January - Ex: 774 Eq: 718 Tu: 731

@OmarGB9 wrote:
@Remedios wrote:
@californiaboy935 wrote:
April 2019 - Ex: 700 Eq:715 Tu: 656
June 2019 - Ex: 755 Eq: 742 Tu: 701
October - Ex: 647 Eq: 770 Tu: 801
January - Ex: 774 Eq: 718 Tu: 731

That is my delema haha.

801 in october when you would of had 11 months of credit history 😐
I'm not sure which and whose report you're looking at, honestly
Maybe OP made a typo. Maybe it was supposed to be 701 again instead of 801.

OP, as has been mentioned, we need details of your accounts and everything else on your report in order to begin trying to give you answers.

Re: FICO SCORE - CRAZYNESS

Remedios — Mon, 20 Jan 2020 06:03:48 GMT

You said dad filed BK. When was that?

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Mon, 20 Jan 2020 07:25:56 GMT

2008 maybe? Dont think I was really able to know much about it at that age @Remedios

@Remedios wrote:
You said dad filed BK. When was that?

Re: FICO SCORE - CRAZYNESS

martypav7 — Mon, 20 Jan 2020 16:28:07 GMT

To be honest i think you are asking quetions but providing false info. in pictures you put up are Experian scores one picture and Equifax second. Your equifax score for october shows 701 but in thread u mention its 770.

Re: FICO SCORE - CRAZYNESS

californiaboy935 — Mon, 20 Jan 2020 17:47:51 GMT

It says differnt things throughout my account and on differnt websites. Not sure the discrepancy.

@martypav7 wrote:
To be honest i think you are asking quetions but providing false info. in pictures you put up are Experian scores one picture and Equifax second. Your equifax score for october shows 701 but in thread u mention its 770.