topic Re: Major score drop in General Credit Topics

Major score drop

TGG_1976 — Fri, 16 Apr 2021 01:58:28 GMT

I know this may be temporary but FICO scoring always throws me off. Over the past year, I have had my utilization down to 3% across my cards, and all scores have been hovering in the 730 range.

I had an uptick in one-time expenses past month and had the balances report. My utlization for march was at 28%. My Chase Experian score dropped by a 137 point!? I am like what?

I paid down all my balances today to zero (only card reporting a smaller balance). I hope Chase reports mid-cycle (do they still so?) and my scores bounce back since I want to rent a new place in the next month(s).

I checked all Fico reports today. In fact, one inquirie from 2019 fell off, no other change. It's soul crushing!

Thanks for listening!

Re: Major score drop

Jnbmom — Fri, 16 Apr 2021 02:08:15 GMT

@TGG_1976 wrote:
I know this may be temporary but FICO scoring always throws me off. Over the past year, I have had my utilization down to 3% across my cards, and all scores have been hovering in the 730 range.

I had an uptick in one-time expenses past month and had the balances report. My utlization for march was at 28%. My Chase Experian score dropped by a 137 point!? I am like what?

I paid down all my balances today to zero (only card reporting a smaller balance). I hope Chase reports mid-cycle (do they still so?) and my scores bounce back since I want to rent a new place in the next month(s).

I checked all Fico reports today. In fact, one inquirie from 2019 fell off, no other change. It's soul crushing!

Thanks for listening!

Chase's score isn't FICO......................Vantage scores can be vicious with utlization changes, but they are not FICO so nothing to be too concerned about

Re: Major score drop

TGG_1976 — Fri, 16 Apr 2021 02:14:08 GMT

@Jnbmom Thanks so much for the positive spirit, I needed that!

Re: Major score drop

blindambition — Fri, 16 Apr 2021 02:47:49 GMT

Chase will automatically report when paid to $0, so yes they still do that. As @Jnbmom pointed out, Chase's Credit Journey is Vantage 3.0, so nothing to be concerned with.

Re: Major score drop

Anonymous — Fri, 16 Apr 2021 03:13:45 GMT

@TGG_1976 wrote:
I know this may be temporary but FICO scoring always throws me off. Over the past year, I have had my utilization down to 3% across my cards, and all scores have been hovering in the 730 range.

I had an uptick in one-time expenses past month and had the balances report. My utlization for march was at 28%. My Chase Experian score dropped by a 137 point!? I am like what?

I paid down all my balances today to zero (only card reporting a smaller balance). I hope Chase reports mid-cycle (do they still so?) and my scores bounce back since I want to rent a new place in the next month(s).

I checked all Fico reports today. In fact, one inquirie from 2019 fell off, no other change. It's soul crushing!

Thanks for listening!

Wow! That was a huge drop! Are you sure nothing else changed on your report?

Re: Major score drop

Jnbmom — Fri, 16 Apr 2021 06:16:37 GMT

@Anonymous wrote:
@TGG_1976 wrote:
I know this may be temporary but FICO scoring always throws me off. Over the past year, I have had my utilization down to 3% across my cards, and all scores have been hovering in the 730 range.

I had an uptick in one-time expenses past month and had the balances report. My utlization for march was at 28%. My Chase Experian score dropped by a 137 point!? I am like what?

I paid down all my balances today to zero (only card reporting a smaller balance). I hope Chase reports mid-cycle (do they still so?) and my scores bounce back since I want to rent a new place in the next month(s).

I checked all Fico reports today. In fact, one inquirie from 2019 fell off, no other change. It's soul crushing!

Thanks for listening!
Wow! That was a huge drop! Are you sure nothing else changed on your report?

@Anonymous

thats not a huge drop shocker for Vantage scores at all................and again it's not their FICO scores

Re: Major score drop

4sallypat — Sat, 17 Apr 2021 16:56:54 GMT

@Jnbmom wrote:
@Anonymous wrote:
@TGG_1976 wrote:
I know this may be temporary but FICO scoring always throws me off. Over the past year, I have had my utilization down to 3% across my cards, and all scores have been hovering in the 730 range.

I had an uptick in one-time expenses past month and had the balances report. My utlization for march was at 28%. My Chase Experian score dropped by a 137 point!? I am like what?

I paid down all my balances today to zero (only card reporting a smaller balance). I hope Chase reports mid-cycle (do they still so?) and my scores bounce back since I want to rent a new place in the next month(s).

I checked all Fico reports today. In fact, one inquirie from 2019 fell off, no other change. It's soul crushing!

Thanks for listening!
Wow! That was a huge drop! Are you sure nothing else changed on your report?
@Anonymous

thats not a huge drop shocker for Vantage scores at all................and again it's not their FICO scores

Vantage scores are WILD compared to the moderate, calm numbers that FICO generates - sometimes it is sky high while other times it says way low....

Re: Major score drop

NichelleN — Sun, 18 Apr 2021 20:12:07 GMT

I generally ignore my Vantage score. It runs about 70 points behind my FICO score.