topic Re: 14 point drop for address change? in Understanding FICO® Scoring

14 point drop for address change?

Anonymous — Fri, 08 Oct 2021 20:38:19 GMT

As the title states, logged into MyFico this morning to an alert for an address change and a subsequent -14 point hit to my Experian score. Logged into Experian and saw the matching -14 point hit there for the same reason.

Since when it moving a cause for a hit like this?

Re: 14 point drop for address change?

CreditPacMan — Fri, 08 Oct 2021 22:14:08 GMT

This does not make any sense. I've moved many times before and I don't recall that it ever affected my credit score.

Have you pulled your credit report to make sure nothing else is showing that can explain the drop?

Re: 14 point drop for address change?

FireMedic1 — Fri, 08 Oct 2021 22:31:39 GMT

If you have a CK account. Check there and see if any changes occurred. It wasn't an address change. Something else caused the MyFICO trigger. Moving to a new address does not change your credit score.

Re: 14 point drop for address change?

SouthJamaica — Sat, 09 Oct 2021 16:15:51 GMT

@Anonymous wrote:
As the title states, logged into MyFico this morning to an alert for an address change and a subsequent -14 point hit to my Experian score. Logged into Experian and saw the matching -14 point hit there for the same reason.

Since when it moving a cause for a hit like this?

You have no way of knowing that the address change caused the score change. I am skeptical that it did.

Re: 14 point drop for address change?

SoonerSoldier33 — Sun, 10 Oct 2021 18:39:45 GMT

@Anonymous wrote:
As the title states, logged into MyFico this morning to an alert for an address change and a subsequent -14 point hit to my Experian score. Logged into Experian and saw the matching -14 point hit there for the same reason.

Since when it moving a cause for a hit like this?

No chance. Your administrative information like your name, address, or employer have no bearing on your FICO scores. Something else caused your score loss.

Re: 14 point drop for address change?

expatCanuck — Mon, 11 Oct 2021 14:38:56 GMT

I'll offer that if it's an action you're not aware of, then it's one of those invisible items, like a card or account scrolling off, lowering your average age of accounts.

Or a negative like a late, tho' that'd almost certainly cause a more significant point loss.

Re: 14 point drop for address change?

HeavenOhio — Thu, 14 Oct 2021 13:17:37 GMT

@Anonymous, when you reported the address change, was the balance higher than it was previously? I believe that when presented with address changes, most lenders will simply report like they would at statement time. Whatever your balance is at that time will end up on your report.

Re: 14 point drop for address change?

HowDoesThisAllWork — Thu, 14 Oct 2021 14:40:59 GMT

@HeavenOhio wrote:
@Anonymous, when you reported the address change, was the balance higher than it was previously? I believe that when presented with address changes, most lenders will simply report like they would at statement time. Whatever your balance is at that time will end up on your report.

Correct! I experienced this (address change....or, better said, I corrected an incorrect address with Discover (the credit card) and this initiated an off-cycle reporting).

There are certain "events" that result in an immediate reporting. Address change appears to be one of them. So, in my situation, when I corrected the address (in the street address the "House Number" was off by one number.....) with Discover directly this resulted - unbeknownst to me at the time of making the address correction - in an off-cycle reporting. Unfortunately, in my situation, the 'balance' was a lot higher than what I allow to report. It was some $454.....that is to-date the highest reported balance on my Discover card (still, more than one year later).

So, this passes the 'smell test' according to my experiences. Sure does not seem to make sense....until we experience it, right?

Re: 14 point drop for address change?

Anonymous — Wed, 29 Dec 2021 23:45:54 GMT

This just happened to me and I appreciate your explanation!! I dropped 26 point because of this! Do you know how I can fix it? Dispute perhaps?

Re: 14 point drop for address change?

HowDoesThisAllWork — Thu, 30 Dec 2021 03:37:45 GMT

@Anonymous No! There is nothing to dispute (and I would tread very lightly with 'disputes'). The Financial Institutions have 'set events' that result in a so-called off-cycle report. Address change is one of them - as mentioned. The only thing that one can do is (a) know about this and (b) take appropriate action BEFORE making that correction (in this case, the address correction). Sorry that I do not have a better answer....but that is what I would recommend to anyone and to everyone - make sure that the current balance is what you want it to be AND THEN make the correction.

Re: 14 point drop for address change?

millicredi — Mon, 14 Feb 2022 19:43:00 GMT

Yeah, it happened to me this morning. I've paid all my bills on time and paid stuff off and got new accounts all within good mix. For some reason my score just goes down more than anything within last 6 months. Inquiring is low (6) within 2 years.

this has got to be manipulation on behalf of the lenders that make more.

Re: 14 point drop for address change?

OmarGB9 — Mon, 14 Feb 2022 20:14:53 GMT

@millicredi wrote:
Yeah, it happened to me this morning. I've paid all my bills on time and paid stuff off and got new accounts all within good mix. For some reason my score just goes down more than anything within last 6 months. Inquiring is low (6) within 2 years.

this has got to be manipulation on behalf of the lenders that make more.

Not really. Lenders don't control your scores. The bureaus and their proprietary algorithms do. You'd have to thoroughly scan your reports from before and after the score change to truly figure out why your score went down.

Re: 14 point drop for address change?

HeavenOhio — Thu, 17 Feb 2022 02:46:30 GMT

@OmarGB9, wouldn't it be FICO that controls the scores, with the bureaus collecting and maintaining records?

Re: 14 point drop for address change?

OmarGB9 — Thu, 17 Feb 2022 04:16:49 GMT

@HeavenOhio wrote:
@OmarGB9, wouldn't it be FICO that controls the scores, with the bureaus collecting and maintaining records?

Well yes. I kinda muddled things together, though the bureaus can interfere as well when they have inaccurate info.

Re: 14 point drop for address change?

millicredi — Sat, 26 Feb 2022 17:40:20 GMT

It went back up but i think it was due to my cc balances dropping to zero utilization or I also had two cl increase.

I just bought a home so that why my address changed but the mortgage hasn't posted on cr yet.

in other topics I was just approved this morning for 7k navyfed "yay!"

The tips here definitely helped me.