topic Re: Fraud Account removed, no score change? in Understanding FICO® Scoring

Fraud Account removed, no score change?

EaglesFan2006 — Thu, 21 May 2015 11:47:38 GMT

I know Credit Karma scores are FAKOs so I'm not reading a lot into the score itself. However, I was surprised to see that my score didn't change one bit even though the fraudalent collection was removed from my report yesterday. I did the score update today and it looks like the negative item is not there, but the score didn't change. This was my only negative item (other than higher that I'd like util). Is this maybe a timing thing? Shouldn't my score, even FAKO, improve by having this removed?

Re: Fraud Account removed, no score change?

Anonymous — Thu, 21 May 2015 13:11:50 GMT

@EaglesFan2006 wrote:
I know Credit Karma scores are FAKOs so I'm not reading a lot into the score itself. However, I was surprised to see that my score didn't change one bit even though the fraudalent collection was removed from my report yesterday. I did the score update today and it looks like the negative item is not there, but the score didn't change. This was my only negative item (other than higher that I'd like util). Is this maybe a timing thing? Shouldn't my score, even FAKO, improve by having this removed?

You score improving is dependant on a number of factors on your report not just the negative on your report being removed. So if FAKO hasn't changed, check to see if something else has changed. For example, has utilization increased?

Re: Fraud Account removed, no score change?

EaglesFan2006 — Thu, 21 May 2015 13:23:02 GMT

@Anonymous wrote:
@EaglesFan2006 wrote:
I know Credit Karma scores are FAKOs so I'm not reading a lot into the score itself. However, I was surprised to see that my score didn't change one bit even though the fraudalent collection was removed from my report yesterday. I did the score update today and it looks like the negative item is not there, but the score didn't change. This was my only negative item (other than higher that I'd like util). Is this maybe a timing thing? Shouldn't my score, even FAKO, improve by having this removed?
You score improving is dependant on a number of factors on your report not just the negative on your report being removed. So if FAKO hasn't changed, check to see if something else has changed. For example, has utilization increased?

Nope. In fact util dropped from last week, albeit slightly...so I wasn't expecting that to have an impact. Nothing else new. When the fraud collection showed up the CK scores dropped about 30 points. They're still at that same level.

Re: Fraud Account removed, no score change?

Anonymous — Thu, 21 May 2015 13:30:53 GMT

And was it on a closed account? V3.0 weighs closed accounts very lightly, if at all.

Re: Fraud Account removed, no score change?

cdtotten — Thu, 21 May 2015 13:59:58 GMT

As mentioned above, there are many factors that go into a score and the factors that go into FAKO scores can very. Just because a negative item was removed (or was it closed), there may be offsetting factors that kept your score similar. Maybe it hasn't updated again since as well.

If you are curious about your actual scores, I would pull a FICO report.