topic Credit Score has not changed... Why? [Changed Forum] in Understanding FICO® Scoring

Credit Score has not changed... Why? [Changed Forum]

nenuco — Thu, 04 Oct 2012 14:35:53 GMT

Hello! So at the end of August I decided to purchase a MacBook Pro for $3,000. I put it on my Citi card for points. As it posted on my $4,000 Citi CL, my credit went down 60+ points due to the utilization of 70% on this card. Prior to this, my FAKO score from Credit Karma was ~ 770. It went down to 710, then back up to 730 in mid September due to 2 inquiries falling off. Foolishly enough I did not pay for it before it posted. As soon as it did I paid the card in full. This month I have been waiting for my utilization to go down. Today my Citi card finally posted. My utilization has updated and is down to 3% across the board ($740 total spending.) The thing is my credit score is still 730 as it was in September. I have no baddies, negatives, or new inquiries. Any idea why this might be? I wanted to apply for a new credit card but was waiting for my old score to repost. I wanted to know why my score has not gone back up to where it was previous to my credit card utilization spike. Please let me know if anyone has any ideas or thoughts. I have 6 CC, $20,000 total credit. ~ 2 years of AAOA & always pay in full. I appreciate any help in advance. Thanks!

Re: Credit Score has not changed... Why? [Changed Forum]

Walt_K — Thu, 04 Oct 2012 14:39:21 GMT

As mentioned previously, you're talking about a FAKO score from CK. Who knows why it didn't change back to what it was before. It doesn't mean that your FICO score dropped 60 points, or that your FICO score hasn't completely recovered to what it was before.

Re: Credit Score has not changed... Why? [Changed Forum]

nenuco — Thu, 04 Oct 2012 14:41:50 GMT

Is there a preffered date to get a Fico score? I mean I don't want to purchase it without knowing that the utilization has been updated.. or is there no real way of knowing unitl you buy the score? Thanks

Re: Credit Score has not changed... Why? [Changed Forum]

Walt_K — Thu, 04 Oct 2012 14:48:56 GMT

CK provides you with your report. That information is accurate, so if you can see that the utilization has updated on CK, then that means it has updated on your TransUnion report. You would be ok to get your score now knowing that the utilization has updated.

One other point though, the TU score that is offered here is an older version, TU98. A lot of lenders are using TU04. You can't get your TU04 score except from a lender, like in a mortgage application. So in many ways the TU score here is almost as bad as a FAKO.

If I were going to get one score, I would get your EQ score. The EQ FICO you get here is the same version that most lenders use.

ETA: Not sure whether your utilization would have updated on EQ or not, but I imagine it would have. If you haven't done so already, you can request your free trial of ScoreWatch and get your EQ score that way. And then you aren't out any money if your utilization hasn't updated.

Re: Credit Score has not changed... Why? [Changed Forum]

nenuco — Thu, 04 Oct 2012 14:49:35 GMT

Thanks man for all this useful knowledge. I appreciate it! I will follow your advice.