topic Re: Scorewatch Alert FICO went down :( in General Credit Topics

Scorewatch Alert FICO went down :(

Outdoorstech1 — Fri, 15 Aug 2014 23:08:51 GMT

Scorewatch Alert: August 6th my FICO was 643 then on the 8th it went to 647 because my Amazon Card reported a $0 bal, then today I got an alert my FICO went back to 643 because my Cap 1 reported a bal of $130 my CL is $750. I can see it going even lower because my second Cap 1 will report a balance of $892 w a $1000 CL in the next few days as my statement closes today. But that card is a 0% APR till May and I'm going to pay it off by Jan.

So far I like the service, and the alerts. really shows how a balance affects your score for sure.

Re: Scorewatch Alert FICO went down :(

Swapmeet — Fri, 15 Aug 2014 23:22:09 GMT

@Outdoorstech1 wrote:
Scorewatch Alert: August 6th my FICO was 643 then on the 8th it went to 647 because my Amazon Card reported a $0 bal, then today I got an alert my FICO went back to 643 because my Cap 1 reported a bal of $130 my CL is $750. I can see it going even lower because my second Cap 1 will report a balance of $892 w a $1000 CL in the next few days as my statement closes today. But that card is a 0% APR till May and I'm going to pay it off by Jan.

So far I like the service, and the alerts. really shows how a balance affects your score for sure.

Re: Scorewatch Alert FICO went down :(

mongstradamus — Fri, 15 Aug 2014 23:27:39 GMT

My score took an little dive also about 5 points becuase my csp reported an balance. So two cards reporting balance is no bueno.

Re: Scorewatch Alert FICO went down :(

Swapmeet — Fri, 15 Aug 2014 23:32:53 GMT

I feel that pain mong. I had a card with a 0 bal charge me interest on a cash adv at the last min before the statement cut, so a $2.10 bal reported--lowering my score about 5 points as well.....I say, "whatever man!"

Re: Scorewatch Alert FICO went down :(

mongstradamus — Fri, 15 Aug 2014 23:34:34 GMT

@Swapmeet wrote:
I feel that pain mong. I had a card with a 0 bal charge me interest on a cash adv at the last min before the statement cut, so a $2.10 bal reported--lowering my score about 5 points as well.....I say, "whatever man!"

having 0 report is an whole lot worse than having 2 report with balance i have noticed. With zero reporting it went down almost 25 points.

Re: Scorewatch Alert FICO went down :(

maiden_girl — Fri, 15 Aug 2014 23:36:22 GMT

Request to move to correct forum "General".

Re: Scorewatch Alert FICO went down :(

taxi818 — Sat, 16 Aug 2014 00:11:23 GMT

I agree. good service. but man. is equifax very fickle.

I lost 3 points because i had balance from 0 to 21 dollars report.

No other changes. thats sad. i guess i teaches. me. let everything go to 0 except 1 account and leave 3 dollars on it. for equifax to thrive.

Re: Scorewatch Alert FICO went down :(

mongstradamus — Sat, 16 Aug 2014 00:12:29 GMT

@taxi818 wrote:
I agree. good service. but man. is equifax very fickle.
I lost 3 points because i had balance from 0 to 21 dollars report.
No other changes. thats sad. i guess i teaches. me. let everything go to 0 except 1 account and leave 3 dollars on it. for equifax to thrive.

yeah they are picky but luckily i have some padding if it drops an few points here and there. Thats all you really can do :-)

Re: Scorewatch Alert FICO went down :(

dursty87 — Sat, 16 Aug 2014 00:15:29 GMT

My statement just cut for a card I charged 5000/6000 on a 0% offer I got. It will be interesting to see how bad my score tanks. I am not too worried about it as I won't be applying for anything soon and will pay off within 6 months.

Re: Scorewatch Alert FICO went down :(

taxi818 — Sat, 16 Aug 2014 00:18:18 GMT

Keep us posted. I'm curious now. That is huge uti.

Re: Scorewatch Alert FICO went down :(

lg8302ch — Sat, 16 Aug 2014 00:34:50 GMT

For me it has completely changed about 4 months ago. Before I got dinged 40+ points for reporting balances and today with 7 accounts reporting balances my scores remain pretty much the same as long as overall util stays around the same... wonder what happened to EQ Fico all the sudden ? .. I like it better that way and it also makes a whole lot more sense

Re: Scorewatch Alert FICO went down :(

cashnocredit — Sat, 16 Aug 2014 00:42:25 GMT

@lg8302ch wrote:
For me it has completely changed about 4 months ago. Before I got dinged 40+ points for reporting balances and today with 7 accounts reporting balances my scores remain pretty much the same as long as overall util stays around the same... wonder what happened to EQ Fico all the sudden ? .. I like it better that way and it also makes a whole lot more sense

I saw the same thing when SW was upgraded to FICO 8. If most or all my cards are carrying a balance there is only a slight change in scores. Before I could see 40 point swings or more.

Re: Scorewatch Alert FICO went down :(

OHWWCB — Sat, 16 Aug 2014 00:55:07 GMT

I'm going to be reporting a $1000 balance on my Discover for my new road bike because it's 0% and probably another $800 on my Freedom which is still 0%. These are the highest balances I've ever carried. I keep getting antsy about potentially transferring some $$ to pay it off but I'm trying not to worry too much. They'll be paid off in 3 months and I'm not applying for anything until 2015.

Re: Scorewatch Alert FICO went down :(

j_casteel — Sat, 16 Aug 2014 02:32:34 GMT

@maiden_girl wrote:
Request to move to correct forum "General".

why?

OP is referring to CC uti affecting his scores.

Re: Scorewatch Alert FICO went down :(

lg8302ch — Sat, 16 Aug 2014 06:43:24 GMT

@cashnocredit wrote:
@lg8302ch wrote:
For me it has completely changed about 4 months ago. Before I got dinged 40+ points for reporting balances and today with 7 accounts reporting balances my scores remain pretty much the same as long as overall util stays around the same... wonder what happened to EQ Fico all the sudden ? .. I like it better that way and it also makes a whole lot more sense
I saw the same thing when SW was upgraded to FICO 8. If most or all my cards are carrying a balance there is only a slight change in scores. Before I could see 40 point swings or more.

Thanks....so I am glad I was not dreaming and others get the same results....lol

Re: Scorewatch Alert FICO went down :(

Outdoorstech1 — Tue, 19 Aug 2014 18:43:20 GMT

Yeah my score went down a few more points today to 634 because my 0% Cap One card first statement reported with a $892 balance with a $1,000 CL. I'm not stressing tho because I got the card to make a large purchase to pay over time and thats exacty what I am going to do.