topic I've given up trying to understand in Understanding FICO® Scoring

I've given up trying to understand

demi — Mon, 22 Jun 2009 21:43:41 GMT

OK, I opened a new credit card a week ago. As much as I promised myself I wouldn't, I have aquired a few since I bought my house last summer. Anyway, I received a score alert just now to tell about the inquiry...its gone up four points. My scores seem to be counterintuitive of everything I have learned on this board...my balances go up, my score goes up. I open new cards, my score goes up. It however doesn't like my outstanding balances, and went down a minor amount a few months ago, so I am right about where I was when I bought. Went up when my mortgage reported as well.

Oh well, not complaining...just weird. My inquiries on my mortgage and first card will drop off by end of August, will be interesting to see how that affects it.

Re: I've given up trying to understand

Anonymous — Mon, 22 Jun 2009 23:14:12 GMT

You might have been rebucketed, that's why points are going up when balances are going up. I started in January, and I can tell you, it is very tricky when it comes to your own scores.

Re: I've given up trying to understand

llecs — Tue, 23 Jun 2009 02:28:11 GMT

SW alerts don't tell the full picture. Something else happened to EQ to cause the increase (e.g. util drop, baddie removal, longer history, etc.).

I once got a SW alert for a 20 pt increase due to an inquiry. Also got a SW alert for a balance increase and a FICO score increase at the same time. In both cases, stuff was happening to my CR to warrant the change that SW didn't report on.

Re: I've given up trying to understand

FocusOnFICO — Tue, 23 Jun 2009 02:57:40 GMT

I agree that the scores can be a little weird, too. I rebalanced my credit portfolio, adding 7 new card accounts in less than 3 months, with the requisite amount of inquiries spread over the three agencies. I was expecting some kind of ding, but all scores increase 10-15 points.

Keep in mind that if you're doing the right strategies, you will be fine over time. This forum will help to inspire you.