topic Re: Experian drop from CLI in Understanding FICO® Scoring

Experian drop from CLI

Anonymous — Sat, 18 Apr 2015 13:53:52 GMT

I received a CLI of $1000 and experian dropped 3 points because of it.

I don't understand why

Re: Experian drop from CLI

Anonymous — Sat, 18 Apr 2015 14:02:39 GMT

@Anonymous wrote:
I received a CLI of $1000 and experian dropped 3 points because of it.

I don't understand why

Did the CLI arise from a hard pull, or soft? If they did an HP, that might explain the ding.

Re: Experian drop from CLI

Anonymous — Sat, 18 Apr 2015 14:20:12 GMT

No I didn't have a hard pull. It was a preapproved cli.
I was not alerted of a hard pull from myfico or any other credit monitoring site and the increase was weeks ago.

Re: Experian drop from CLI

Anonymous — Sat, 18 Apr 2015 17:12:31 GMT

@Anonymous wrote:
No I didn't have a hard pull. It was a preapproved cli.
I was not alerted of a hard pull from myfico or any other credit monitoring site and the increase was weeks ago.

Likely the score change was unrelated to the CLI. Perhaps you had an old account that aged off? Without knowing the whole picture its hard to say, but its normal to fluctuate up and down as we go though the rebuilding process.

Re: Experian drop from CLI

Anonymous — Sat, 18 Apr 2015 21:25:43 GMT

I was basing the 3 pt drop off what myfico 3 score monitoring said In my alerts. It said you have an account change then shows the cli and shows the 3 pt drop.

Is this accurate? Is myfico accurate when telling you the reasons for your fico score change.

Re: Experian drop from CLI

taxi818 — Sun, 19 Apr 2015 09:43:22 GMT

@Anonymous wrote:
@Anonymous wrote:
No I didn't have a hard pull. It was a preapproved cli.
I was not alerted of a hard pull from myfico or any other credit monitoring site and the increase was weeks ago.
Likely the score change was unrelated to the CLI. Perhaps you had an old account that aged off? Without knowing the whole picture its hard to say, but its normal to fluctuate up and down as we go though the rebuilding process.

+1 peope see the last alert and always blame it. 3 points is not a lot. and mostly i attribute that up or down to utiilization. even a 1 -percent difference. example. on experian. i got 4 point gain for utilization yesterday. yet my other 2 has not changed at all. i get alert saying new inquiry. which the inquiry happened a week ago. so nothing new here. really no need to worry of that. now if it dropped like 30 points. then its time to worry.

Re: Experian drop from CLI

taxi818 — Sun, 19 Apr 2015 09:47:27 GMT

@Anonymous wrote:
I was basing the 3 pt drop off what myfico 3 score monitoring said In my alerts. It said you have an account change then shows the cli and shows the 3 pt drop.

Is this accurate? Is myfico accurate when telling you the reasons for your fico score change.

No. it is not accurate.

I paid old collcection and lost 60 points.

i got alert say balance decrease.

what the hell.

from 730-670 because of balance decrease.

But i knew the status change on collection from unpaid to paid. from open to closed was the culprit.

As in the eye of fico. it looked like a new collection. which in fact it was 5 years old. i only decided to pay it off. too bad my score suffers from that. but i know once it is gone. my scores will fly.

Re: Experian drop from CLI

lg8302ch — Sun, 19 Apr 2015 10:42:27 GMT

@Anonymous wrote:
I was basing the 3 pt drop off what myfico 3 score monitoring said In my alerts. It said you have an account change then shows the cli and shows the 3 pt drop.

Is this accurate? Is myfico accurate when telling you the reasons for your fico score change.

It is most likely something else changed at the same time. With the alert you get the "strongest" reason for the change ...you can look at this example here:

If you look at the reason that a 3K balance increase would get Fico score 6 points up....too good to be true. Now if you wonder how that happened. My overall utilization did not change and at the same time 1 of my accounts just passed the 2 year anniversary - so for Fico no longer a new account. That is most likely the reason for the score increase and definitely not the increase of my balance. But for this you do not get the alert.

So it is probably something else that triggered it.. higher util, rebucketing, .......many reasons. Fico formula is secret and complex ..don't worry it will recover ...congrats and enjoy your increase!

Re: Experian drop from CLI

Imhotrodcrazy — Sun, 19 Apr 2015 17:16:43 GMT

My question is, if you can't go by what the monitoring alert says, what good is the service?

Re: Experian drop from CLI

taxi818 — Sun, 19 Apr 2015 17:19:39 GMT

@Imhotrodcrazy wrote:
My question is, if you can't go by what the monitoring alert says, what good is the service?

Other than actual fico scores. Not much. Imo. Better to go free service. Which I will do after my 3 months up. I will get. T.u. And ex free thru discover and amex. Freeze eq. So I don't care what that score is.

Re: Experian drop from CLI

Imhotrodcrazy — Sun, 19 Apr 2015 17:25:22 GMT

I agree, not much sense in paying for something you are not getting.