topic Re: Sudden F8 drop of 25-30 points in Understanding FICO® Scoring

Sudden F8 drop of 25-30 points

isik — Sun, 01 Dec 2024 21:02:35 GMT

I got an email that said my score was "updated". I was expecting a 1-2 point increase as that's what most of those emails end up being about, but instead I saw a drop of about 25 points on EQ F8. Surprised, I refreshed my report, and didn't find anything unexpected.

I logged in to Experian to check and saw a 27 point decrease. Report also looked fine. I don't have an easy way of checking TU F8 on demand, but will check when my bank updates it.

Since not everything on reports shows up on those platforms, I checked Annual Credit Report for all 3 and saw nothing out of the ordinary. Same 10 accounts reporting, no lates or any other derogs, highest CC UTIL 10%, rest below 6%. No closed accounts or surprise CLDs. Loans look normal, no new inquiries and no public records. I can't find a single thing that changed for the worse, or changed at all.

I logged into CK and Cap1 to check my VS and they didn't drop. They showed a minor few point increase as usual.

What could be the reason for this sudden F8 drop? Only change I can think of is later this month my credit will be 3 years old. But I would expect this to help scores, not hurt them.

Dropped from about 760-770 to 730-740.

Re: Sudden F8 drop of 25-30 points

GZG — Sun, 01 Dec 2024 21:21:21 GMT

@isik wrote:
What could be the reason for this sudden F8 drop? Only change I can think of is ~~later this month~~ as of December 1st your credit is 3 years old. But I would expect this to help scores, not hurt them.

Dropped from about 760-770 to 730-740.

3 years is a big scorecard milestone for when your file becomes aged and you go from young to mature

and now your file is being compared relative to thick aged files of 20 years+ you'll get those points back over time

Re: Sudden F8 drop of 25-30 points

Patient957 — Mon, 02 Dec 2024 01:22:55 GMT

@isik was it your oldest account that turned 3 years or your average age of accounts?

If it was your oldest, check out the thread below. You are not alone.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Oldest-account-hits-3-yrs-scores-drops-up-to-22-points/m-p/5421665

Re: Sudden F8 drop of 25-30 points

isik — Mon, 02 Dec 2024 01:47:08 GMT

Wow so I guess it is the aging credit. That is ridicilous, it should indicate less risk not more. I guess I shouldn't be surprised since F8 does other weird things too, like punishing paying off loans.

Re: Sudden F8 drop of 25-30 points

SouthJamaica — Mon, 02 Dec 2024 21:39:41 GMT

@isik wrote:
Wow so I guess it is the aging credit. That is ridicilous, it should indicate less risk not more. I guess I shouldn't be surprised since F8 does other weird things too, like punishing paying off loans.

I don't think I've ever lost points due to a scorecard promotion, but I'm told it's possible. If that is what caused it, I'm sure you'll get the points back -- and then some -- in no time. And by no time, I mean a month or two.