topic Re: FICO Dropped 42 points after $360 CC balance decrease?? in Understanding FICO® Scoring

FICO Dropped 42 points after $360 CC balance decrease??

Anonymous — Thu, 04 Jul 2013 18:30:36 GMT

Hi Board - HAPPY 4TH! Hoping someone can help me make sense of this odd drop. FICO dropped 42 points today with an alert showing a balance decrease on a CC of only $360. NOTHING else has changed since last FICO change reported on 6/24 ( which was a FICO increase of 11 points after paying off 1/2 of a large $30K CC balance). No new credit, activity, public records. Checked bureau to determine if there were any odd CR lines reporting, fraud, new accounts...nothing?????

Re: FICO Dropped 42 points after $360 CC balance decrease??

pizzadude — Thu, 04 Jul 2013 18:55:00 GMT

What is credit limit on the card that had a balance increase, and the utilization before the additional balance reported ?

Re: FICO Dropped 42 points after $360 CC balance decrease??

Anonymous — Thu, 04 Jul 2013 19:07:42 GMT

Hi - Thanks for the quick reply. The card that was reported in the alert which contained the FICO score drop had a balance decrease (not increase) of $360 -balance =$2,760. The total line on the card is$11,000. The new balance after the decrease is only $2,400.

Re: FICO Dropped 42 points after $360 CC balance decrease??

HiLine — Thu, 04 Jul 2013 19:17:54 GMT

Sometimes, for Score Watch, scores move before alerts are issued. You should expect another alert in the next couple of days....

Re: FICO Dropped 42 points after $360 CC balance decrease??

Anonymous — Thu, 04 Jul 2013 20:08:45 GMT

hmmm...Interesting. I'll keep an eye out for another alert in the next few days and report back my findings. Can't imagine what would have caused such a big drop in FICO. I pulled my bureau 30 minutes ago and all looks as it should. APPRECIATE the responses!

Re: FICO Dropped 42 points after $360 CC balance decrease??

bluescale — Thu, 04 Jul 2013 23:36:33 GMT

From what I've read on this board, if you have a fairly high score (750+), even small negatives can cause a temporary sharp decline in score. Assuming nothing big happened with you realizing, it should recover quickly.

No old, positive TLs fell off your report I take it?

Re: FICO Dropped 42 points after $360 CC balance decrease??

llecs — Fri, 05 Jul 2013 14:29:30 GMT

@bluescale wrote:
No old, positive TLs fell off your report I take it?

+1 . IME, most of my accounts dropped on the first of the month. SW doesn't alert to dropped accounts and of course the 42-point change was a net change that could have included balance changes, util changes, dropped TLs, etc.

Re: FICO Dropped 42 points after $360 CC balance decrease??

Anonymous — Fri, 05 Jul 2013 22:34:47 GMT

any cards have birthdays this month (youngest card hitting a year, oldest card turning another yeard older, AAoA turning another year older?) Rebuckting from Age has given some peoeple some wild fluctuations.

Re: FICO Dropped 42 points after $360 CC balance decrease??

Anonymous — Sun, 07 Jul 2013 18:19:28 GMT

Hello HiLine - you were right. I did receive another alert on 7/5...but it was for another very small $60 balance DECREASE on another card??? I also checked to see if any of my cards might have decreased my line amounts (increasing my util % - only thing I could think of with no other changes on my bureau). No changes there either. I'm so confused what could have caused this large drop in score. Another member suggested checking to see if an old TL dropped off my bureau - no to that too. My oldest TL of 24 years (AMEX) is still there and it's a card I still use.