topic Re: Why no EQ increase? in Understanding FICO® Scoring

Why no EQ increase?

MontegoMack — Fri, 13 Apr 2012 23:12:38 GMT

I got a ScoreWatch alert today but I didn't get ANY change in my score! It was the only change in my report (I compared it to my USAA CMS report updated today), so why wouldn't I get some kind of bump? It's a closed account, could that be the reason? They lure me in to believing that my Fico score could go up, then BAM! No increase to be found. Do I have to wait a day or so before the new score is calculated?

Ugh.

Description: Closed or Paid Account/Zero Balance

Auto Loan

Status:	Not more than four payments past due	Pays account as agreed
Last activity:	1/1/2011	1/1/2011

How account changes impact your score:

The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.)

The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts.
The balance on the account decreased. Generally, less debt is better for your FICO® score.
The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations.
The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score.
The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score
.

Re: Why no EQ increase?

llecs — Fri, 13 Apr 2012 23:28:39 GMT

Any credit change would have resulted in a FICO change, if that change had led to a score increase. What changed within the TL? MyFICO and USAA only show the last two years of history. Did any lates drop? You can have a "paid as agreed" but still have lates showing in the past.

Part of the alert is redacted. What is the before and after comments change?

Re: Why no EQ increase?

MontegoMack — Sat, 14 Apr 2012 00:02:18 GMT

The TL hasn't changed any, but the comments and payment status changed in my favor.

Ugh. Still...

Re: Why no EQ increase?

Booner72 — Sat, 14 Apr 2012 15:25:06 GMT

I feel your pain. I have had some major things happen that I thought would surely cause a score increase. I got nothin. And other times I got more than I would expect. You just never know.

Re: Why no EQ increase?

gsxraddict — Tue, 01 May 2012 21:29:13 GMT

if you have other negative tl's remaining, then don't expect a Fico increase.