topic Re: Lower Util and Score Drop in Understanding FICO® Scoring

Lower Util and Score Drop

800goal800 — Sun, 17 Jan 2021 13:50:52 GMT

Lowered my Disco Util from 38% to 7.5% and EX mortgage score DROPPED 11 points ! No other alerts or updates. Credit cards are all AZEO...

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 18:26:14 GMT

You too 11 points, wow. Several others including myself saw the same thing. There is another thread talking about it. Something is going on.

@800goal800 wrote:
Lowered my Disco Util from 38% to 7.5% and EX mortgage score DROPPED 11 points ! No other alerts or updates. Credit cards are all AZEO...

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 18:27:13 GMT

@800goal800 wrote:
Lowered my Disco Util from 38% to 7.5% and EX mortgage score DROPPED 11 points ! No other alerts or updates. Credit cards are all AZEO...

There's so many things that can cause this. Lowering balances definitely will not lower EX2. It loves low balances and lower number of cards reporting a balance, no matter how small those individual balances are.

I lost -22pts on EX2 just from aging: 1yr 11mo to 2yr 0mo, and paid down my cards to report exactly the same as the month before, because I wanted to isolate score changes.

Dropping an installment loan, inquiries, aging to a number of various thresholds on oldest account, new account being reported, an old account with a new update....lots of things can lower EX2 besides utilization.

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 18:30:21 GMT

The weird thing is that yesterday several of us reported losing the same 11 points on the EX mortgage score.

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 18:31:16 GMT

Here is the other thread. Something must be going on.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Experian-Mortgage-Score-DROPPED-for-now-reason/td-p/6231362

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 21:19:50 GMT

What’s the credit limit on the Discover card please? Aging Metrics also please

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 21:20:06 GMT

Source for your score as well please

Re: Lower Util and Score Drop

800goal800 — Sun, 17 Jan 2021 21:22:54 GMT

$2k limit and balance is now 150. Approx 16 months old. Score from Experian site.

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 21:29:41 GMT

I can tell you mine. But my discover card reported on the 10th. I took mine from 45 util to zero. Saw no score change. Card was opened Jan 2018.

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 22:55:09 GMT

@800goal800 wrote:
$2k limit and balance is now 150. Approx 16 months old. Score from Experian site.

@800goal800 OK do you have any derogatories on file? Number of accounts on your credit report? Age of your oldest account? Is it a revolver or a loan? If it's a loan, what's the age of your oldest Revolver? What's the age of your youngest Revolver? What's the age of youngest account?

do you have the before and after negative Reason Codes Please?

Regardless of notifications and alerts were there any other changes or expected changes?

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 22:55:54 GMT

@tooleman694 wrote:
I can tell you mine. But my discover card reported on the 10th. I took mine from 45 util to zero. Saw no score change. Card was opened Jan 2018.

@tooleman694 please give me the same information I requested above from @800goal800 .

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 23:07:19 GMT

@Anonymous wrote:
@800goal800 wrote:
$2k limit and balance is now 150. Approx 16 months old. Score from Experian site.

@800goal800 OK do you have any derogatories on file? Number of accounts on your credit report? Age of your oldest account? Is it a revolver or a loan? If it's a loan, what's the age of your oldest Revolver? What's the age of your youngest Revolver? What's the age of youngest account?

do you have the before and after negative Reason Codes Please?

Regardless of notifications and alerts were there any other changes or expected changes?

Chapter 13 BK, opened Sept 2015.

17 accounts.

Oldest account 13 years, student loan.

Oldest credit card 3 years old.

Youngest credit card 3 months old, also newest.

Codes are exactly the same.

No changes at all.

Re: Lower Util and Score Drop

Anonymous — Sun, 17 Jan 2021 23:46:37 GMT

@tooleman694 wrote:
@Anonymous wrote:
@800goal800 wrote:
$2k limit and balance is now 150. Approx 16 months old. Score from Experian site.

@800goal800 OK do you have any derogatories on file? Number of accounts on your credit report? Age of your oldest account? Is it a revolver or a loan? If it's a loan, what's the age of your oldest Revolver? What's the age of your youngest Revolver? What's the age of youngest account?

do you have the before and after negative Reason Codes Please?

Regardless of notifications and alerts were there any other changes or expected changes?
Chapter 13 BK, opened Sept 2015.
17 accounts.
Oldest account 13 years, student loan.
Oldest credit card 3 years old.
Youngest credit card 3 months old, also newest.
Codes are exactly the same.
No changes at all.

@tooleman694 what is the source of your scores please? Please give me those negative Reason Codes even though they were the same and didn't change. Do you have daily access through Experian? Do you have MF?

The reason I'm asking is, if your oldest credit card turned three years old this month, I'd like to know if you got any points on the first of the month for that. Age of oldest revolver awards points independent of average age of accounts.

Re: Lower Util and Score Drop

tooleman694 — Sun, 17 Jan 2021 23:58:59 GMT

I have 2 sources, first here on myfico I get a monthly 3B report and I also have an account on experian where I get daily reports and all the EX fico scores.

Codes are, Negative items, Bad payment history, High credit usage, Short account history.

Jan first this year my score went up 6 points on both EX Fico 8 and my Mortgage score.

Re: Lower Util and Score Drop

Anonymous — Mon, 18 Jan 2021 01:37:50 GMT

@tooleman694 wrote:
I have 2 sources, first here on myfico I get a monthly 3B report and I also have an account on experian where I get daily reports and all the EX fico scores.

Codes are, Negative items, Bad payment history, High credit usage, Short account history.

Jan first this year my score went up 6 points on both EX Fico 8 and my Mortgage score.

@tooleman694 awesome thank you for the data point. Most people have a credit card first, so when they reach 3 years they experience scorecard reassignment on version 8 and we're unable to determine the award for the oldest Revolver hitting 3 years, so your data point is very helpful. Thank you again! @Anonymous will enjoy the DP as well!

To verify you do not have any closed credit cards or revolvers that are older, correct?

The situation does seem very strange. You are in a public records scorecard and I'm assuming it's a mature/PR Scorecard, even though we don't actually know wherevthe threshold is where a PR card goes from young to mature. But if that's from 2015 I'm thinking that by 6 years you should be in a mature card. I really don't know but I have a hunch they switch at 2 years or 4 or 5 years.

I would ask you to look for any accounts that may have aged off or be in dispute. Other than that and considering other people are experiencing the same thing, I am kind of wondering if there isn't a glitch like there was recently when for instance Cassie was getting a no revolving activity code when she had a qualifying card with activity, 2 actually.

if you're certain nothing else aged off and you're certain the score change happened on that date, I don't know what else to think.

Re: Lower Util and Score Drop

Anonymous — Mon, 18 Jan 2021 03:58:51 GMT

@800goal800 wrote:
Lowered my Disco Util from 38% to 7.5% and EX mortgage score DROPPED 11 points !

Under no circumstance could this change above result in an 11 point Fico score drop. If your score dropped it 100% came due to another change with your file, more than likely one that isn't alertable or easily seen.

Re: Lower Util and Score Drop

800goal800 — Mon, 18 Jan 2021 15:49:07 GMT

@Anonymous

Mortgage Score and Alerts if any

Jan 9: 623

Jan 10: n/a

Jan 11: n/a

Jan 12: 623 and PORTFOLIO RECOV ASSOC has reported Positive Activity: Account Paid. ( Still have another collection )

Jan 13: 623

Jan 14: 625 up 2 pts

Jan 15: 625

Jan 16: 614 down 11 and Your DISCOVER FIN SVCS LLC account's Credit Usage significantly decreased to 7.25%.

Jan 17: 614

Jan 18: 614

The " What's harming your score section" is the same every day

Re: Lower Util and Score Drop

Anonymous — Tue, 19 Jan 2021 01:32:09 GMT

@800goal800 wrote:
@Anonymous
Mortgage Score and Alerts if any

Jan 9: 623
Jan 10: n/a
Jan 11: n/a
Jan 12: 623 and PORTFOLIO RECOV ASSOC has reported Positive Activity: Account Paid. ( Still have another collection )
Jan 13: 623
Jan 14: 625 up 2 pts
Jan 15: 625
Jan 16: 614 down 11 and Your DISCOVER FIN SVCS LLC account's Credit Usage significantly decreased to 7.25%.
Jan 17: 614
Jan 18: 614

The " What's harming your score section" is the same every day

@800goal800 I cannot explain it if nothing else changed on your report.