topic Re: One Point Decrease in Understanding FICO® Scoring

One Point Decrease

wynona01 — Wed, 11 Jun 2008 03:35:21 GMT

I had a judgement to fall of my experian credit report, My experian score actually went down one point, what a dissapointment, but at least its gone right.

I currently have two high interest credit cards, Rewards 660 credit limit 600/balance is now 0 ( i just paid it off today yay).

I also have a imagine mastercard credit limit 1100/ balance is 1030, I know pretty high but by the end of this month it will be about 50 percent paid off.

With me paying off my rewards credit card, how much do you think my credit score will go up. Currently my scores are Experian 606, Equifax 580, and Transunion 528.

Re: One Point Decrease

Anonymous — Wed, 11 Jun 2008 09:17:06 GMT

It was this little guy that did it:

See the spot toward the left. That's a sunspot...the first we've seen in awhile.

No, I don't know exactly what the correlation between FICO scoring and sunspots is, but I'm working on it.

Re: One Point Decrease

Junejer — Wed, 11 Jun 2008 14:19:26 GMT

@wynona01 wrote:

I had a judgement to fall of my experian credit report, My experian score actually went down one point, what a dissapointment, but at least its gone right.

I currently have two high interest credit cards, Rewards 660 credit limit 600/balance is now 0 ( i just paid it off today yay).

I also have a imagine mastercard credit limit 1100/ balance is 1030, I know pretty high but by the end of this month it will be about 50 percent paid off.

With me paying off my rewards credit card, how much do you think my credit score will go up. Currently my scores are Experian 606, Equifax 580, and Transunion 528.

Overall util is still 58%. You might see a minor bump of roughly 10-15 points or so. Once you get overall util to under 10%, you are going to see a nice bump.

If you don't have any other judgments, that's the reasoning for your score dropping. You have been rebucketed.