topic Re: Experian weirdness in Understanding FICO® Scoring

Experian weirdness

AlanGJP — Mon, 27 Jul 2020 20:19:49 GMT

In the last couple months my EX score hasn't moved even 1 point. In that time I've paid down all my cards - many were in the 80-90% UTIL range down to either $0 or near $0. My FAKO (TU - CK, etc) has jumped to ~720. My last card that had around 50% UTIL dropped to a few bucks (Merrick AF) and again, no movement on EX (They alerted me of the change - as they do with all changes. Always with "Your credit score did not change, but your rating did").

My FAKO was ~620 (Approx matching my FICO - I have a monthly sub here) before I started paying down. Jumped to ~720 (yes, ~100 PTS) I did a post about it here after I paid down everything. My EQ jumped about 30 PTS to mid-650's, TU about 10-20 PTS, zero movement on EX. I did add 3 cards over the last couple months (IKEA, Good Sam & WS - See sig. So I'd expect a slight drop - or SOME movement) but again, nothing on EX - no drop, no gain - nothing. EQ and TU both moved a bit, as expected. Before paying down, I always had some movement either direction with UTIL changes. Now nothing at all.

I did my monthly pull on myFICO and again, no movement for EX. What is going on here? Not even ONE point either direction with such major changes? (~80% UTIL to near zero, 3 new cards added, major baddie dropped off around the same time)

Then I get this on EX's site: (Anyone ever gotten this at ~3% UTIL? Just trying to understand what's going on here.)

My feeling is that somehow my EX score is frozen and not being updated. I mean 3% UTIL is considered High Credit Usage? Was there a change in how FICO is calculated at EX where they take a longer period into account? Because I'm at a complete loss once I saw that screen cap.

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 21:43:49 GMT

@AlanGJP I’m gonna guess that you have derogatories? Which if you do, new accounts don’t give a penalty, the only effect is the HP and the potential average age hits.

How about listing out all your tradelines? Willing to bet you either have an AmEx charge card or a heloc or a funny LOC or some other type of debt that is causing the high utilisation. maybe unpaid chargeoff?

Do you have any public records? Please detail any delinquencies.

Re: Experian weirdness

AlanGJP — Mon, 27 Jul 2020 21:51:04 GMT

All of my tradelines except for my Amex Gold (AU) account - also at zero, but shouldn't matter anyway?

I think I found out what this is about...

I have an old First Premier (Charged off 12/2014 - So drops off next year) that started reporting again after 2 years of no updates. It's at 135% UTIL ($538 of $400) It hasn't reported to TU in a couple years, started reporting to EX and EQ in the last couple months. Must be the culprit?

Weird though that my EX score didn't move 1 point? With many cards paid to or near zero? I'd expect some movement.

Given that it drops off next year, recommend I let it fall off? $538 is not a big deal to pay, but if it's not going to help dramatically -- and I'm gardening for about a year after just getting those 3 new cards. Won't be home buying for a couple years.

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 22:05:08 GMT

@AlanGJP wrote:
All of my tradelines except for my Amex Gold (AU) account - also at zero, but shouldn't matter anyway?

I think I found out what this is about...

I have an old First Premier (Charged off 12/2014 - So drops off next year) that started reporting again after 2 years of no updates. It's at 135% UTIL ($538 of $400) It hasn't reported to TU in a couple years, started reporting to EX and EQ in the last couple months. Must be the culprit?

Weird though that my EX score didn't move 1 point? With many cards paid to or near zero? I'd expect some movement.

Given that it drops off next year, recommend I let it fall off? $538 is not a big deal to pay, but if it's not going to help dramatically -- and I'm gardening for about a year after just getting those 3 new cards. Won't be home buying for a couple years.

@AlanGJP congratulations you found the culprit my friend. Since it's updating you wouldn't have much of a catch up penalty, paying it off would simply lower your utilisation and increase your score.

Nevertheless you would still be under significant penalty until it drops next year. If you have no use for credit score until next year what is the point? When it drops you'll see a nice boost. I'm assuming you don't have any other derogatories?

Re: Experian weirdness

AlanGJP — Mon, 27 Jul 2020 22:20:04 GMT

Nope. MyFico simulation is showing a jump to 800 a year from now, so that's probably why.

Is it normal for FP to report 90 Days Late every month, even though the account was closed over 6 years ago? I'm not sure if that's standard practice, just seems odd to me. (They're doing this on both EQ and EX, but not TU) TU shows it closed 12/2014 - EX and EQ do not show as closed. Also appears the previous months where there was no reporting are now filled with "CO" and listed as 90 Days Late in the lower column.

And no, I don't plan to app for anything new for at least a year. Planning to garden for a year and see how things go. Just frustrating when I expected to see a change and didn't.

My concern is they're trying to push past 7 years on this? (Maybe I'm wrong, hopefully I'm wrong.)

Other thing I noticed is EX is listed as "Revolving" where-as the others are not.

Re: Experian weirdness

CreditCuriosity — Mon, 27 Jul 2020 22:21:58 GMT

yes they are reporting monthly to try to get you to pay.. They are going to make it as painful as they can for you and this is typical from some creditors.

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 22:26:58 GMT

Go to annualcreditreport.com and pull your reports there to get the DOFD and find out when they really fall off.

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 22:29:10 GMT

@AlanGJP wrote:
Nope. MyFico simulation is showing a jump to 800 a year from now, so that's probably why.

Is it normal for FP to report 90 Days Late every month, even though the account was closed over 6 years ago? I'm not sure if that's standard practice, just seems odd to me. (They're doing this on both EQ and EX, but not TU) TU shows it closed 12/2014 - EX and EQ do not show as closed. Also appears the previous months where there was no reporting are now filled with "CO" and listed as 90 Days Late in the lower column.

And no, I don't plan to app for anything new for at least a year. Planning to garden for a year and see how things go. Just frustrating when I expected to see a change and didn't.

My concern is they're trying to push past 7 years on this? (Maybe I'm wrong, hopefully I'm wrong.)

Other thing I noticed is EX is listed as "Revolving" where-as the others are not.

@AlanGJP as for them reporting late, I wouldn't make much of it. I think the reasonableness standard is 90 days, but remember they don't have to report at all, they just have to report accurately if they do. Just get the credit report where I said and see when it really falls off.

Re: Experian weirdness

AlanGJP — Mon, 27 Jul 2020 22:48:25 GMT

@Anonymous wrote:
Go to annualcreditreport.com and pull your reports there to get the DOFD and find out when they really fall off.

So I did that just now: (Thanks btw!)

Date Opened: 07/11/2014

Date Reported: 07/05/2020

Date of Last Payment: 09/01/2014

Deliquency First Reported: 12/01/2014

Date of First Deliquency: 10/01/2014

So, it falls off December 2014 if I'm reading this correctly?

(TU) Estimated month and year that this item will be removed:

09/2021

EDIT: That was EQ, just hit EX (Was looking over my EQ) and got "We're sorry. A condition exists that prevents Experian from being able to accept your request at this time. To obtain your Experian annual credit report --" {Address listed below}

Any idea why I'd get that? I can login to my EX account via my iPhone and see my FICO there. Weird?

Re: Experian weirdness

AlanGJP — Mon, 27 Jul 2020 22:38:24 GMT

@CreditCuriosity wrote:
yes they are reporting monthly to try to get you to pay.. They are going to make it as painful as they can for you and this is typical from some creditors.

I mean, it's hard to blame them considering. But I haven't received anything in the mail in years, seems like that would be a better way to get my attention. As it sits now, seems it's better to just let it fall off.

Re: Experian weirdness

CreditCuriosity — Mon, 27 Jul 2020 22:53:48 GMT

@AlanGJP wrote:
@CreditCuriosity wrote:
yes they are reporting monthly to try to get you to pay.. They are going to make it as painful as they can for you and this is typical from some creditors.
I mean, it's hard to blame them considering. But I haven't received anything in the mail in years, seems like that would be a better way to get my attention. As it sits now, seems it's better to just let it fall off.

Depends if you want them to report until it falls off in 7 or 7 years and 6 months from DOFD.. So it could be on your reports until 7 years and 6 months after the DOFD which was 10/2014 which would put it at sometime in 4/2021 on your reports...I could be wrong as not in rebuilding section much but believe can be on reports for 7 years and 6 months vs just 7 years although @Anonymous might know this better than myself. Really comes down to how much you value 500ish dollars.. If it was me i would pay the trivial amount, but what is trivial for me isnt trivial for everyone.

Re: Experian weirdness

AlanGJP — Mon, 27 Jul 2020 22:57:51 GMT

@CreditCuriosity wrote:
Depends if you want them to report until it falls off in 7 or 7 years and 6 months from DOFD.. So it could be on your reports until 7 years and 6 months after the DOFD which was 10/2014 which would put it at sometime in 4/2021 on your reports...I could be wrong as not in rebuilding section much but believe can be on reports for 7 years and 6 months vs just 7 years although @Anonymous might know this better than myself. Really comes down to how much you value 500ish dollars.. If it was me i would pay the trivial amount, but what is trivial for me isnt trivial for everyone.

It's trivial. With that said, I won't be app'ing for quite some time, so it's not imparative it fall off anytime soon.

TU is reporting "Estimated month and year that this item will be removed: 09/2021". Not sure if TU falls off earlier, same, later or what. But that's roughly a year from now.

If I do pay it, it won't be removed any sooner, correct? So in paying I might gain some points, but until it drops I'm not going to see anything dramatic?

Re: Experian weirdness

CreditCuriosity — Mon, 27 Jul 2020 23:05:01 GMT

That is correct it won't be removed any sooner if paid unless they agree to but first premier doesn't do that.

with that said early exclusion is possibly an option as tu allows it 6 months early and eq I believe is 1 month early and Experian notts if I recall correctly so really up to you. If you are past statute of limitations aka sued for your state then your choice as you said might gain a few points but nothing earth shattering

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 23:12:35 GMT

@CreditCuriosity is correct. 7.5 years from the DOFD, tho in practice it's frequently seven years.

paying it will offer you some benefit but you will still be under significant penalty until it drops, so is it worth paying the small amount for an increase for a small amount of time? Only you can decide.

Re: Experian weirdness

Anonymous — Mon, 27 Jul 2020 23:14:03 GMT

Notice it says it will fall off in September 2021 which is seven years from the DOFD. they could report it another six months, if they wanted to.

Re: Experian weirdness

AlanGJP — Wed, 26 Aug 2020 21:24:14 GMT

UPDATE: A month passes and EX jumps nearly 30 points - I see no explanation for the change other than the jump. I did get three new cards in the last 1-3 months (two in the last month, one about 3 months out). Other than that, nothing has changed. My feeling is this 30pts is the jump from over a month ago. EQ was about a 30pt jump too, TU about 10-20pts. It just seems EX took two months to show. (TU and EQ have not jumped since then - so my best guess is there was some lag before they updated *shrug*)

Re: Experian weirdness

Anonymous — Thu, 27 Aug 2020 08:23:42 GMT

Maybe they reported late at EX? Did you check?

Re: Experian weirdness

AlanGJP — Sat, 29 Aug 2020 04:58:55 GMT

I don't know how I would recognize that they'd reported late. I can tell you, nothing else has changed relative to my original post. It seems (from all I can disern) that there was a delay in the update of my score. I only post this to help others. If things change and their EX doesn't update, they may want to wait a month or two. There's a chance there's a delay in the update.

Re: Experian weirdness

Anonymous — Sat, 29 Aug 2020 08:48:53 GMT

@AlanGJP The way you do that is by opening your Experian app at least once a day, then you can always go back and pull reports for that day or the day before and see when a balance was reported and when it wasn’t.

that is the beauty of having an Experian subscription, U just have to remember to open it once a day to create the archive for that day

Re: Experian weirdness

AlanGJP — Sun, 30 Aug 2020 05:17:37 GMT

OK, well that would be my mistake. I check it maybe once a week or once every two weeks. (I have a subscription - yes, I'll be checking it more now ) Unfortunately I can't see any obvious change between the previous update. What I can say - TU and EQ both had big jumps, EX had no change. So from my POV, it seems that the change was merely delayed about a month or so - why, I don't know. But as of now, all three seem to have had approx the same jump. In the end - I'm alright with the update. Just confused why there was a delay compared to TU and EQ.