topic Re: Strange...My score actually dropped! in Understanding FICO® Scoring

Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 16:03:23 GMT

Hi! First time post here.

So I checked my score for the first time ever a few months ago when myFico was giving out free scores for joining the board. I was reported as a 714. Not bad for never having paid attention to my credit.

I had about 17k in debt out of 35k available credit. Since that time, I have payed it down to 11k in debt. The troubling part is that today when I bit the bullet and signed up for myFico, it reported the same score as 688! The ONLY thing that has changed in 2 months is the ratio. I also added my wife onto my cards as an AU (look at me I'm using the lingo!)

What is going on? Was the "free equifax score" BS?

Re: Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 20:35:42 GMT

@Anonymous wrote:
Hi! First time post here.

So I checked my score for the first time ever a few months ago when myFico was giving out free scores for joining the board. I was reported as a 714. Not bad for never having paid attention to my credit.

I had about 17k in debt out of 35k available credit. Since that time, I have payed it down to 11k in debt. The troubling part is that today when I bit the bullet and signed up for myFico, it reported the same score as 688! The ONLY thing that has changed in 2 months is the ratio. I also added my wife onto my cards as an AU (look at me I'm using the lingo!)

What is going on? Was the "free equifax score" BS?

I can't speak for whether or not the promo was BS just to hook people or not, but there are ALOT of factors that go into credit scoring and with everything going on, there might be other factors. I personally have seen my score act like a rollacoaster and the funny thing is, all I have done is good stuff and all that has occured on my reports are good and there should be no reason for my score to ever dip, but it does. Its a monster that although many claim to understand, no one will EVER truly understand. Take it as a marker and don't over dwell on it. Remember that many things affect the score and it could be something you don't realize or see but has an effect. Best way is to print out the report from then and print the report from now and go through it line by line and see what changed, then decide based on what we know if it was good/bad/ugly/neither and see where you might find explanation of the difference. Hope that helps.

Re: Strange...My score actually dropped!

haulingthescoreup — Thu, 12 Mar 2009 21:34:46 GMT

It was a legit FICO EQ score. I don't think that mine budged more than a couple of points in either direction.

On the new report, what does it list for positive and negative factors (screen 2)?

If you have any charge-offs, collections, etc., check the dates on them to make sure that they're not being "re-aged" --reported with current dates, instead of the dates that they actually happened. This will hurt your scores by making the baddies appear to be more recent than they are.

CA's like to do this in order to get your attention.

Re: Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 23:12:16 GMT

@haulingthescoreup wrote:
If you have any charge-offs, collections, etc., check the dates on them to make sure that they're not being "re-aged" --reported with current dates, instead of the dates that they actually happened. This will hurt your scores by making the baddies appear to be more recent than they are.

CA's like to do this in order to get your attention.

Funny you mentioned this, I said this exact same thing a while back and someone jumped on me and said IT NEVER HAPPENS, no such thing. Since they were a "veteran" if you will, I was inclined to assume I was wrong, so was I right and this happens or no it doesn't happen? dang nabit, sometimes I think credit was an evil created just to screw with mankind or just the CRAs

Re: Strange...My score actually dropped!

haulingthescoreup — Thu, 12 Mar 2009 23:16:44 GMT

Well, the problem is that I'm repeating what I have heard reported. And we all know that a lot of "stuff" gets repeated around here that isn't necessarily so.

But I've read it enough, from enough people who I consider trustworthy, that I think that it probably happens. It's not supposed to happen, but neither is asking for GW and winding up with disputes on all three reports that say they were initiated by consumer. (My own tiny contribution to CRA/ lender insanity.)

Re: Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 23:37:59 GMT

@haulingthescoreup wrote:
Well, the problem is that I'm repeating what I have heard reported. And we all know that a lot of "stuff" gets repeated around here that isn't necessarily so.

But I've read it enough, from enough people who I consider trustworthy, that I think that it probably happens. It's not supposed to happen, but neither is asking for GW and winding up with disputes on all three reports that say they were initiated by consumer. (My own tiny contribution to CRA/ lender insanity.)

That's actually how I knew about this and learned it happens. Plus it happened to two of my own accounts after they were disputed. So I figured, it must have been something to it. funny, you are right, supposed to and what happens are not alwyas consistent.

Re: Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 23:38:27 GMT

The negatives are AAoA, and the percentage of usage. Never had a charge off, collection, not seeking credit etc. That is why it seem so strange.

Adding an AU doesn't change the score does it?

Re: Strange...My score actually dropped!

Anonymous — Thu, 12 Mar 2009 23:46:01 GMT

@Anonymous wrote:
The negatives are AAoA, and the percentage of usage. Never had a charge off, collection, not seeking credit etc. That is why it seem so strange.

Adding an AU doesn't change the score does it?

Make sure you AAoA didn't somehow get readjusted or recalculated weird, compare them with previous reports and see if they are consistent. Does your util vary greatly within 30-90 day period? Remember between increase and update to paid off, there is a lag. Usually an AU can't hurt you too much but I am going to let someone who knows for sure answer that one.

Re: Strange...My score actually dropped!

haulingthescoreup — Fri, 13 Mar 2009 00:00:19 GMT

No, an AU won't hurt the actual card owner, unless the AU goes wild and runs up the balance or something.

Any chance that you had balances report, even though you then paid them off immediately? If it's saying high util, that sounds like what's happening. It would be strange, since in fact you've paid it down, but that's one thing that occurs to me.

Re: Strange...My score actually dropped!

smallfry — Fri, 13 Mar 2009 00:13:33 GMT

Congrats Hauling I see you have real grown up scores now. I envy you. One of these days Alice.

Re: Strange...My score actually dropped!

Anonymous — Fri, 13 Mar 2009 00:18:53 GMT

@smallfry wrote:
Congrats Hauling I see you have real grown up scores now. I envy you. One of these days Alice.

Yes, those are certainly good looking scores I am hoping and crossing my fingers that with everything paid and sockdrawered, that I will finally see some real improvement, I got into 700+ with all of the mid 08 and then suddenly poof back to where they are not for no good reason that I can think of. Anyway, will put the FICO at the end of this month and see, it should be enough time to have everything reported properly and updated. Too bad I won't know what EX score is going to be, this sucks.

Re: Strange...My score actually dropped!

haulingthescoreup — Fri, 13 Mar 2009 00:19:50 GMT

LOL, thanks guys, working at it.

Sit, and wait, and wait, and wait...

Re: Strange...My score actually dropped!

Anonymous — Fri, 13 Mar 2009 00:24:35 GMT

@haulingthescoreup wrote:
LOL, thanks guys, working at it.

Sit, and wait, and wait, and wait...

You are welcome, I know what you mean, I have been working it for a long time too but the darn thing just won't behave

Re: Strange...My score actually dropped!

smallfry — Fri, 13 Mar 2009 01:35:23 GMT

696 720 704. 11 more months and I am squeaky clean. I pray the rebucketing gods are kind to my relatively low average age. Last account hits 1 year in August. I will never apply for another credit card.

Re: Strange...My score actually dropped!

Anonymous — Fri, 13 Mar 2009 16:07:09 GMT

I really don't know. When I got the free score, it wasn't the full blown deal. I just was shown a number.

However, I called my United Card and asked for a CLI (I didn't know how easy it was!) They gave me a 5k bump. That should help!

Re: Strange...My score actually dropped!

Anonymous — Fri, 13 Mar 2009 20:41:13 GMT

@Anonymous wrote:
I really don't know. When I got the free score, it wasn't the full blown deal. I just was shown a number.

However, I called my United Card and asked for a CLI (I didn't know how easy it was!) They gave me a 5k bump. That should help!

You do realize those kinds of things involve inquiries and inquiries lower your points right? So you need to consider all these before thinking you have changed nothing and why did my score go down.

Re: Strange...My score actually dropped!

Anonymous — Tue, 24 Mar 2009 13:33:59 GMT

But your situation did change! You added your wife and thus her negative or positive profile will reflect on you!

Re: Strange...My score actually dropped!

Anonymous — Tue, 24 Mar 2009 13:34:09 GMT

My score drops for a $39.99 credit balance and when I pay it off, it does not change. For a year, I have paid well and on time, and my score still never fluctuates higher than the average.

Re: Strange...My score actually dropped!

Anonymous — Tue, 24 Mar 2009 17:02:42 GMT

@Anonymous wrote:
My score drops for a $39.99 credit balance and when I pay it off, it does not change. For a year, I have paid well and on time, and my score still never fluctuates higher than the average.

A $40 balance does not kill your score unless it constitute a huge util of your revolving credit which would suggest you have no credit. I doubt you have so little credit that $40 would constitute a huge usage. So there has to be something else to it.

Re: Strange...My score actually dropped!

Anonymous — Tue, 24 Mar 2009 18:22:11 GMT

There are many factors that could be effecting your scores. One thing most people don't know about are the soft inquiries that hit your report unless you are opted-out of marketing materials. You can do this by going to www.optoutprescreen.com and electronically opt-out for 5 years. I'm sure there was something that changed on your report to make the score change, but there's no way to know without looking at it.

Message Edited by llecs on 03-24-2009 02:22 PM