topic Re: Scoring system is a scam in Understanding FICO® Scoring

Scoring system is a scam

Anonymous — Wed, 31 Mar 2021 16:09:53 GMT

Please someone help me understand how it makes sense for my score to drop ridiculous amounts of points, for example, 77 points, smdh, because I paid down to $0 four of my credit cards, for a total combined $900 ish, but increased two of my other credit card balances, one increased $4 and the other $56. It makes no sense for my score to go up by having debt and down for having paid my debt.

Re: Scoring system is a scam

SouthJamaica — Wed, 31 Mar 2021 16:22:40 GMT

@Anonymous wrote:
Please someone help me understand how it makes sense for my score to drop ridiculous amounts of points, for example, 77 points, smdh, because I paid down to $0 four of my credit cards, for a total combined $900 ish, but increased two of my other credit card balances, one increased $4 and the other $56. It makes no sense for my score to go up by having debt and down for having paid my debt.

I have a hunch you're not looking at FICO scores, but Vantage scores, which are entirely different.

What you're reporting simply did not happen.

Re: Scoring system is a scam

Slabenstein — Wed, 31 Mar 2021 16:24:20 GMT

Are you looking at Vantage or FICO scores? Vantage scores can be pretty random and volatile. For FICO scores, the general answer is that aggregate revolving utilization is only one of many scored metrics, so while a decrease in that ratio can cause an increase in score, a change to other metrics over the same time period can result in a net score loss. For a specific answer for the score change you've seen, we'd need the details of your profile before and after the change to help you zero in on it.

Re: Scoring system is a scam

Anonymous — Wed, 31 Mar 2021 17:37:01 GMT

^^^ and the source of the quoted scores.