topic Equifax FICO 8 dropped 26 points in Understanding FICO® Scoring

Equifax FICO 8 dropped 26 points

debianx74 — Sat, 17 Dec 2022 00:23:30 GMT

First off, long time lurker first time poster. This forum has helped me greatly.

Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22

Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22

USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC

NFCU - $18.5k limit, $70 balance

Sync Amazon - $10k limit, $301 balance

Sync Ebay - $10k limit, $302 balance

Sync Paypal World CB - $7k limit, $70 balance

Ollo - $5k limit, $34 balance

Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.

Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22

Capital One - $926 DOFD 10/2016, PIF 8/22

Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores

Transunion FICO 8 719

Equifax FICO 8 was 717 yesterday, but now 691

Experian FICO 8 712

7/7/2022 FICO 8 scores before refi

Transunion FICO 8 663

Equifax FICO 8 638

Experian FICO 8 628

Re: Equifax FICO 8 dropped 26 points

Suzette2 — Sat, 17 Dec 2022 01:49:04 GMT

@debianx74 wrote:
First off, long time lurker first time poster. This forum has helped me greatly.
Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22
Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22
USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC
NFCU - $18.5k limit, $70 balance
Sync Amazon - $10k limit, $301 balance
Sync Ebay - $10k limit, $302 balance
Sync Paypal World CB - $7k limit, $70 balance
Ollo - $5k limit, $34 balance
Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.
Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22
Capital One - $926 DOFD 10/2016, PIF 8/22
Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores
Transunion FICO 8 719
Equifax FICO 8 was 717 yesterday, but now 691
Experian FICO 8 712

7/7/2022 FICO 8 scores before refi
Transunion FICO 8 663
Equifax FICO 8 638
Experian FICO 8 628

Equifax is a mystery, imho. I had a zero penalty two days ago (changed the next day on Tu and EX after another AU card reported) but EQ went DOWN. I'm honestly not sure what they are looking at when the other two seem more consistent.

Re: Equifax FICO 8 dropped 26 points

millionsofmiles — Sat, 17 Dec 2022 02:30:10 GMT

SAME thing happened to me today.

Looking at Equifax on MyFico, it says that my last late payment was 7 months ago. My payment grade also went from Good to Fair, I haven't had a late payment in 6 years. I seen through Mysquifax and could not find a single late payment or an update to any account thst was included in BK.

Something is going on with Equifax. My score went down 15 points for no reason. I tried calling EQ but they just closed.

Going through EQ, there is not a single late payment 7 months ago on my report anywhere. My CO from 6.5 years ago still shows the original date.

The only thing I see from around 7 months ago was my old Nordstrom Visa which was IIB in 2017 says it was UPDATED 4/2022. Could thwt have triggered this issue of being accused of a late payment or derogatory 7 months ago?

Re: Equifax FICO 8 dropped 26 points

Brooklyn2018 — Sat, 17 Dec 2022 02:22:28 GMT

@debianx74 wrote:
First off, long time lurker first time poster. This forum has helped me greatly.
Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22
Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22
USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC
NFCU - $18.5k limit, $70 balance
Sync Amazon - $10k limit, $301 balance
Sync Ebay - $10k limit, $302 balance
Sync Paypal World CB - $7k limit, $70 balance
Ollo - $5k limit, $34 balance
Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.
Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22
Capital One - $926 DOFD 10/2016, PIF 8/22
Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores
Transunion FICO 8 719
Equifax FICO 8 was 717 yesterday, but now 691
Experian FICO 8 712

7/7/2022 FICO 8 scores before refi
Transunion FICO 8 663
Equifax FICO 8 638
Experian FICO 8 628

A bit off topic: I noticed you're allowing 5 of 6 cards reporting a balance. IMHO, you're leaving points on the table. Try the AZEO(All Zeros Except One) Method to keep from using more than 50% of your cards. You are being ding'd for that. Hope that also helps moving forward.

I❤️NY

Re: Equifax FICO 8 dropped 26 points

FireMedic1 — Sat, 17 Dec 2022 10:24:46 GMT

@Brooklyn2018 wrote:
@debianx74 wrote:
First off, long time lurker first time poster. This forum has helped me greatly.
Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22
Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22
USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC
NFCU - $18.5k limit, $70 balance
Sync Amazon - $10k limit, $301 balance
Sync Ebay - $10k limit, $302 balance
Sync Paypal World CB - $7k limit, $70 balance
Ollo - $5k limit, $34 balance
Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.
Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22
Capital One - $926 DOFD 10/2016, PIF 8/22
Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores
Transunion FICO 8 719
Equifax FICO 8 was 717 yesterday, but now 691
Experian FICO 8 712

7/7/2022 FICO 8 scores before refi
Transunion FICO 8 663
Equifax FICO 8 638
Experian FICO 8 628
A bit off topic: I noticed you're allowing 5 of 6 cards reporting a balance. IMHO, you're leaving points on the table. Try the AZEO(All Zeros Except One) Method to keep from using more than 50% of your cards. You are being ding'd for that. Hope that also helps moving forward.

GL

I❤️NY

@debianx74 Clarification: More than 50% of cards reporting not using. Use them all you want. Dont have them all report or none report before statement date.

Re: Equifax FICO 8 dropped 26 points

sznthescore — Sat, 17 Dec 2022 19:53:42 GMT

Something weird is going on with EQ. I received an apology email and free credit report from them a month or two ago for the inconvenience of incorrect scoring. Almost don't trust the scores they provide anymore after that.

I noticed that my EQ score was considerably low during those months, then after the correction they went back up. I said to myself... really!? 🤷🏽‍♂️ Not to mention after trying to verify the "change" that allegedly dropped score and it's not there... 🤔

Maybe the scoring algorithm has bugs in it.

Re: Equifax FICO 8 dropped 26 points

SouthJamaica — Sat, 17 Dec 2022 14:10:53 GMT

@debianx74 wrote:
First off, long time lurker first time poster. This forum has helped me greatly.
Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22
Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22
USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC
NFCU - $18.5k limit, $70 balance
Sync Amazon - $10k limit, $301 balance
Sync Ebay - $10k limit, $302 balance
Sync Paypal World CB - $7k limit, $70 balance
Ollo - $5k limit, $34 balance
Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.
Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22
Capital One - $926 DOFD 10/2016, PIF 8/22
Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores
Transunion FICO 8 719
Equifax FICO 8 was 717 yesterday, but now 691
Experian FICO 8 712

7/7/2022 FICO 8 scores before refi
Transunion FICO 8 663
Equifax FICO 8 638
Experian FICO 8 628

The only thing I can think of to do is to get a full EQ report and send in disputes of anything incorrect in your report.

Re: Equifax FICO 8 dropped 26 points

debianx74 — Sat, 17 Dec 2022 15:20:18 GMT

@FireMedic1 @Brooklyn2018 Thank you for the suggestion for AZEO, I give that I try. I think my Amazon store card will be the perfect candidate as the only one reporting with a balance, as it usually has a balance the next day after paying the entire balance. While I use my other cards throughout the month, and typically have all at $0 balance by statement date, this last update got away from me with Christmas shoping. I typically have my Amazon store card and NFCU platinum card report balances but will go down to one reporting.

@SouthJamaica Thanks, I'll do that and dispute anything that's incorrect.

Re: Equifax FICO 8 dropped 26 points

SouthJamaica — Sat, 17 Dec 2022 16:22:11 GMT

@debianx74 wrote:
@FireMedic1 @Brooklyn2018 Thank you for the suggestion for AZEO, I give that I try. I think my Amazon store card will be the perfect candidate as the only one reporting with a balance, as it usually has a balance the next day after paying the entire balance. While I use my other cards throughout the month, and typically have all at $0 balance by statement date, this last update got away from me with Christmas shoping. I typically have my Amazon store card and NFCU platinum card report balances but will go down to one reporting.

@SouthJamaica Thanks, I'll do that and dispute anything that's incorrect.

You're welcome.

Actually your Amazon store card is not a good candidate for your balance-reporting card, as store cards are often overlooked in the calculation.

Re: Equifax FICO 8 dropped 26 points

Brooklyn2018 — Sat, 17 Dec 2022 19:20:32 GMT

@FireMedic1 wrote:
@Brooklyn2018 wrote:
@debianx74 wrote:
First off, long time lurker first time poster. This forum has helped me greatly.
Anyway, got a myfico alert today about changes to my Equifax and was floored by a 26 point drop. At first, thought that it maybe due to getting 2 cli for my Sync Amazon(2k) and Ebay(2k) cards, but that wasn't the case in the past with other SP cli's. So after pulling a fresh myFico 3B report, noticed that my Payment History dropped to Fair from Good on my Eqifax report. Comparing, my 3B from 12/7 with my 3B from today 12/16, I see that "Time since most recent late payment" went from 5yrs. 5mo to 0mo.

The only change that I can think of is, I submitted an EE for Capital One and Target on my Transunion but was denied the EE. Looking at my Equifax report on Equifax's site, noticed that the date reported changed for my 3 paid COs. Not sure how disputing on Transunion had anything to do with Equifax, totally baffled, but I know that Equifax has been called the "Devil", so I guess it's possible. So my question is how/what would I dispute on Equifax's side? Would it be the date reported? I'm having a mini meltdown, so asking the masters, what would be my best course of action to try and regain my lost points.

Target 12/9/22 report: Date Reported on 8/12/22, on 12/15/22 report: Date Reported on 12/10/22
Capital One 12/9/22 report: Date Reported on 9/13/22, on 12/15/22 report: Date Reported on 12/10/22
USAA 12/9/22 report: Date Reported on 9/6/22, on 12/15/22 report: Date Reported on 2/09/22

6 credit cards with balances at 2% utilization across all cards - $50.5k total credit, $54,893 with Upgrade LOC
NFCU - $18.5k limit, $70 balance
Sync Amazon - $10k limit, $301 balance
Sync Ebay - $10k limit, $302 balance
Sync Paypal World CB - $7k limit, $70 balance
Ollo - $5k limit, $34 balance
Upgrade LOC/CC - $5k limit, $0 balance, in SD, reports $4393 limit on CRAs

1 mortgage - refianced in July to pull some equity out for home upgrades & to pay off all credit card debt. This was also my last hard pull across all 3 CRAs.
Before the refi had 3 COs, that were paid in full in July-August 2022

USAA - $1944 DOFD 4/2016, PIF 8/22
Capital One - $926 DOFD 10/2016, PIF 8/22
Target - $481 DOFD 9/2016, PIF 8/22

12/16/22 FICO8 scores
Transunion FICO 8 719
Equifax FICO 8 was 717 yesterday, but now 691
Experian FICO 8 712

7/7/2022 FICO 8 scores before refi
Transunion FICO 8 663
Equifax FICO 8 638
Experian FICO 8 628
A bit off topic: I noticed you're allowing 5 of 6 cards reporting a balance. IMHO, you're leaving points on the table. Try the AZEO(All Zeros Except One) Method to keep from using more than 50% of your cards. You are being ding'd for that. Hope that also helps moving forward.

GL

I❤️NY
@debianx74 Clarification: More than 50% of cards reporting not using. Use them all you want. Dont have them all report or none report before statement date.

Thanks @FireMedic1 for the clarification(fix) 👍

Re: Equifax FICO 8 dropped 26 points

debianx74 — Sun, 18 Dec 2022 15:24:56 GMT

@SouthJamaica Thanks, would my NFCU platinum be a good choice?

Update, I pulled my full Equifax report and noticed on both of my CapOne and Target COs, there was a "Date of major delinquency reported/Delinquency First Reported" was 12/10/2022. Both still list DOFD as 09/2016 & 10/2016, though weird. So I submitted a dispute for those. My USAA CO has that line is blank. Hopefully they remove that date on both and I get my "Time since most recent late payment" back to 5 years,5 months.

Re: Equifax FICO 8 dropped 26 points

SouthJamaica — Sun, 18 Dec 2022 16:03:16 GMT

@debianx74 wrote:
@SouthJamaica Thanks, would my NFCU platinum be a good choice?

Update, I pulled my full Equifax report and noticed on both of my CapOne and Target COs, there was a "Date of major delinquency reported/Delinquency First Reported" was 12/10/2022. Both still list DOFD as 09/2016 & 10/2016, though weird. So I submitted a dispute for those. My USAA CO has that line is blank. Hopefully they remove that date on both and I get my "Time since most recent late payment" back to 5 years,5 months.

I believe so. There are reports that some credit unions don't work, but there are reports that NFCU does work.

Good luck on the dispute.

Re: Equifax FICO 8 dropped 26 points

millionsofmiles — Thu, 22 Dec 2022 22:53:16 GMT

I had the same problem as the OP. EQ did something and re-reported a CO which is due to fall off in 3 months. This made my EQ FICO 8 go down 15 points. I disputed. The dispute took 3 days. I can't really tell what they fixed, but I gained back my 15 points and an additional 3 on top of that. Total of 18 points.

Re: Equifax FICO 8 dropped 26 points

mfinsmi1 — Sun, 25 Dec 2022 08:54:21 GMT

@debianx74 my Equifax score consistently goes up and down its crazy, when you look at a chart the line is literally outrageous. Literally every week I drop 20 points and go up 30 - this has happened consistently for the past 4 weeks. I have so many issues with Equifax i literally don't even care what they report anymore. I look toward TU and Experian to verify information if need be. Even though it sits as my highest score , i know that the wind could cause it to come crashing down tomorrow. Equifax is the biggest joke of a credit bureau that ever existed.

Re: Equifax FICO 8 dropped 26 points

debianx74 — Sun, 25 Dec 2022 21:56:26 GMT

Disputed Both my Capital One & Target COs as they both had "Date of Major Delinquency 1st Reported" as 12/2022 and not the original date of 10/2016 & 9/2016 on Equifax. Dispute for Capital One has been changed back 10/2016, and just waiting for Target dispute to be changed to 9/2016 and updated.

Re: Equifax FICO 8 dropped 26 points

debianx74 — Wed, 28 Dec 2022 21:31:04 GMT

Update - Dispute for Target CO was completed and "Date of Major Delinquency 1st Reported" was changed back to 9/2016. Time Since Most Recent Late Payment went back to 6 years, 1 month after pulling a new myFico report and I got my 26 points, back to a 717 FICO 8 score. Yipee!!! Thanks all for the help and suggestions.