topic Re: SCORE DROPPED 17 points? in Understanding FICO® Scoring

SCORE DROPPED 17 points?

rchvmz — Sun, 23 Jan 2022 16:49:36 GMT

My EQ went from 703 to 686. None of the others decreased, YET----I closed 2 AF cards, Credit 1 and First Access after getting better no AF cards. Cap 1 and Mercury--both 4k SL. My 13 BK was discharged 12/21. Current Fico 8 scores---EQ 686 TU 660 EX 680. I have my CRA's frozen, my total credit line with 8 cards and one Share loan with Penfed is 20k. My utilization is 3% all cards/share loan are on time.

Will my EQ score go back up after a few months like regular files do, or will the BK keep it from going back up.

Re: SCORE DROPPED 17 points?

DJRobbieD — Mon, 24 Jan 2022 14:44:25 GMT

~~Your average age of accounts probably took a hit after you closed two cards. That'll recover in time.~~

Disregard, I was wrong

Re: SCORE DROPPED 17 points?

mgood — Sun, 23 Jan 2022 18:13:15 GMT

You're better off in the long run since you've shed those particular cards. Just accept the short-term hit and move onwards and upwards. The points will come back.

Re: SCORE DROPPED 17 points?

FireMedic1 — Sun, 23 Jan 2022 19:43:21 GMT

Did you go from 6 to 2 cards if I read it correctly? Below 3 cards could be why.

Re: SCORE DROPPED 17 points?

FireMedic1 — Sun, 23 Jan 2022 19:46:02 GMT

@DJRobbieD wrote:
Your average age of accounts probably took a hit after you closed two cards. That'll recover in time.

AAoA's isnt affected by closed cards in FICO. Counts open and closed. Once the closed cards age off at 10yrs or sooner. Then that effects AAoA's.

Re: SCORE DROPPED 17 points?

rchvmz — Sun, 23 Jan 2022 20:01:41 GMT

@FireMedic1 wrote:
Did you go from 6 to 2 cards if I read it correctly? Below 3 cards could be why.

No, I had 11 cards..actaually closed 3 AF cards, two, credit1(400 cl) and 1st access(400 cl)have shown up closed. The 3rd, Indigo (300 cl) has not shown up closed yet. I closed them when I got Cap 1 and Mercury, both no AF and both 4k SL. Both of them has shown up as neww accounts. Equifax has been the only CRA effected as of today. I have 9 active cards.

Re: SCORE DROPPED 17 points?

rchvmz — Sun, 23 Jan 2022 20:31:48 GMT

@FireMedic1 wrote:
@DJRobbieD wrote:
Your average age of accounts probably took a hit after you closed two cards. That'll recover in time.

AAoA's isnt affected by closed cards in FICO. Counts open and closed. Once the closed cards age off at 10yrs or sooner. Then that effects AAoA's.

The strangest thing just happened.

I just got an alert from the FICO app. Logged in and my Equifax score was updated, back to 703. The 17 points were added back. It says, that one closed account balance went to 0. So it went down 17 points this morning and back up 17 point just now?...thats wild. Have you seen that before, as I know you been here a good long while

Re: SCORE DROPPED 17 points?

FireMedic1 — Sun, 23 Jan 2022 22:17:11 GMT

As I said in another thread. MF alerts are whacky at times. Ive had a AZEO card report a high balance. Oh your balance went up by this much. 0 points. Then a couple days later. Oh theres the ding. Point loss. Then back down to usual <8% next month. Your balance went down by this much. Days later my score went up to where it was. So 4 alerts for 2 movements.

Re: SCORE DROPPED 17 points?

mgood — Mon, 24 Jan 2022 00:10:40 GMT

@FireMedic1 wrote:
As I said in another thread. MF alerts are whacky at times. Ive had a AZEO card report a high balance. Oh your balance went up by this much. 0 points. Then a couple days later. Oh theres the ding. Point loss. Then back down to usual <8% next month. Your balance went down by this much. Days later my score went up to where it was. So 4 alerts for 2 movements.

YES! The good and bad things they report to you in the alerts do NOT necessarily coincide with the change in the scores.

Re: SCORE DROPPED 17 points?

rchvmz — Sat, 29 Jan 2022 20:33:43 GMT

So the same thing just happened----EQ went down exactly 17pts AGAIN after AMEX updated the BK discharged on another card--this is weird stuff.