topic Re: OMG - Score Watch Alert Today +15 (801 to 816) in Understanding FICO® Scoring

OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Sun, 05 Oct 2008 16:30:06 GMT

Reaching 700 was a major accomplishment. Reaching 800 was a dream come true. Reaching 816 is just unbelieveable. I've been pinching myself for a year now. LOL

Thanks to the MyFico forums and handling my credit responsibly, I am being rewared.

BTW - This gain may be temporary. I just opened a Chase Visa to take advantage of a balanace transfer.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

haulingthescoreup — Sun, 05 Oct 2008 16:53:26 GMT

Sweet!

Enjoy for now. 800's + new account + balance = ???

But that's a temporary ding. The 816 is the real measure. Nice work!

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Sun, 05 Oct 2008 18:11:37 GMT

Nice work! Was the +15 reducing number of balances or something newer aging, ect...

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Sun, 05 Oct 2008 18:45:26 GMT

@Anonymous wrote:
Nice work! Was the +15 reducing number of balances or something newer aging, ect...

Thanks Pizza! I opened a new account last month. I guess it just reported. SW said:

Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:

You recently opened a new credit account.

I thought I would be dinged...

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Sun, 05 Oct 2008 18:46:32 GMT

@haulingthescoreup wrote:
Sweet!

Enjoy for now. 800's + new account + balance = ???

But that's a temporary ding. The 816 is the real measure. Nice work!

Thanks Hauling! The credit goes too you and the other fantastic Mods!

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Sun, 05 Oct 2008 20:12:22 GMT

You were dinged for the new account. But the new account had other positive benefits with it. When the new account was added the benefits were higher or equal to the ding. When the short term ding wears off it shows as a point gain. These points were probably there earlier but held down. If this is the case you might have more points to look forward to when it gets a bit older too.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Lel — Sun, 05 Oct 2008 21:49:10 GMT

@BBYGRL wrote:
@Anonymous wrote:
Nice work! Was the +15 reducing number of balances or something newer aging, ect...
Thanks Pizza! I opened a new account last month. I guess it just reported. SW said:
Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:

You recently opened a new credit account.
I thought I would be dinged...

Goes to show that the FICO score is a complex creature that is difficult to predict. The variables are dynamic, and certainly have different effects depending on where on the FICO scale you are.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Lel — Sun, 05 Oct 2008 21:50:09 GMT

Oh, I forgot to mention, congratulations on your meteoric rise in score!

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Mon, 06 Oct 2008 02:48:16 GMT

ilovepizza wrote:
You were dinged for the new account. But the new account had other positive benefits with it. When the new account was added the benefits were higher or equal to the ding. When the short term ding wears off it shows as a point gain. These points were probably there earlier but held down. If this is the case you might have more points to look forward to when it gets a bit older too.

Come on Pizza- you know this is a scorecard change-

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Mon, 06 Oct 2008 04:26:47 GMT

@Lel wrote:
@BBYGRL wrote:
@Anonymous wrote:
Nice work! Was the +15 reducing number of balances or something newer aging, ect...
Thanks Pizza! I opened a new account last month. I guess it just reported. SW said:
Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:

You recently opened a new credit account.
I thought I would be dinged...
Goes to show that the FICO score is a complex creature that is difficult to predict. The variables are dynamic, and certainly have different effects depending on where on the FICO scale you are.

That it is - extremely complex. Once I think I have it figured out, it throws another variable in the mix.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Mon, 06 Oct 2008 04:27:13 GMT

@Lel wrote:
Oh, I forgot to mention, congratulations on your meteoric rise in score!

Thanks!!!

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Mon, 06 Oct 2008 18:00:05 GMT

Congrats on the great scores! That is a very impressive rise that will motivate a lot of people.

Are you sure the temporary increase wasn't because during the balance transfer it has disappeared from the old card, but not yet shown up on the new one?

That happened to me a while back and my Experian score jumped to 809. It then came back down when the balance showed up on the new card.

Edit: forgot to mention mine didn't involve a new card though, just a balance transfer.

Message Edited by vawt on 10-06-2008 11:00 AM

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Mon, 06 Oct 2008 20:23:54 GMT

I had the same thing just happen, from opening a new account only.

778 to 787

took me a minute to figure it out.

its almost like reading a double negative statement.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Wed, 08 Oct 2008 02:11:17 GMT

@Anonymous wrote:
I had the same thing just happen, from opening a new account only.
778 to 787

took me a minute to figure it out.
its almost like reading a double negative statement.

Did your score increase as the new account aged?

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Wed, 08 Oct 2008 02:17:04 GMT

@Anonymous wrote:
Congrats on the great scores! That is a very impressive rise that will motivate a lot of people.

Are you sure the temporary increase wasn't because during the balance transfer it has disappeared from the old card, but not yet shown up on the new one?

That happened to me a while back and my Experian score jumped to 809. It then came back down when the balance showed up on the new card.

Edit: forgot to mention mine didn't involve a new card though, just a balance transfer.
Message Edited by vawt on 10-06-2008 11:00 AM

Your theory is probable although the "official balance transfer" hasn't shown up on my reports yet. I anticipate a temporary drop when it does.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Anonymous — Wed, 08 Oct 2008 20:12:30 GMT

@BBYGRL wrote:
@Anonymous wrote:
I had the same thing just happen, from opening a new account only.
778 to 787

took me a minute to figure it out.
its almost like reading a double negative statement.
Did your score increase as the new account aged?

its brand new (well a month i guess now)

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Junejer — Wed, 08 Oct 2008 21:11:18 GMT

Congrats Babygirl. What about some birthday that happened at the same time? 6 months, a year, etc.?

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Thu, 09 Oct 2008 04:05:27 GMT

@Junejer wrote:
Congrats Babygirl. What about some birthday that happened at the same time? 6 months, a year, etc.?
Thanks ByrdMan. That's it! My Citi card turned 6 months. I forgot about that.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

BBYGRL — Wed, 22 Oct 2008 02:41:29 GMT

SW alert on Sunday - Lost 25 points when new account posted with balance transfer. Ouch. Achieving a 816 score was fun while it lasted. Now I plan on paying off the 5k balance transfer by 2/09. We'll see what happens with my score(s) in the meantime.

Re: OMG - Score Watch Alert Today +15 (801 to 816)

Junejer — Thu, 23 Oct 2008 00:44:29 GMT

Heck yeah. It was fun for me just reading your post about it. Not many ever achieve that score even for a moment. You're still in the stratosphere.