topic Re: Credit Limit Increases and score dropped? in General Credit Topics

Credit Limit Increases and score dropped?

nlsnyder80 — Fri, 13 Jan 2023 22:26:26 GMT

I had 3 credit cards increase my limits this last month. Two were soft pulls and one was an auto increase. Nothing else has changed. No new inquiries, no new tradelines. Total credit utilization is less then 5%. My score dropped 36 points on one and 28 on another from the limit increases. Experian shows the limit increases but no change in my score. What the heck? Will it go back up? I've been gardening since December of 2022. Feeling devastated right now.

Re: Credit Limit Increases and score dropped?

Ficoproblems247 — Fri, 13 Jan 2023 16:11:13 GMT

@nlsnyder80 wrote:
I had 3 credit cards increase my limits this last month. Two were soft pulls and one was an auto increase. Nothing else has changed. No new inquiries, no new tradelines. Total credit utilization is less then 5%. My score dropped 36 points on one and 28 on another from the limit increases. Experian shows the limit increases but no change in my score. What the heck? Will it go back up? I've been gardening since December of 2022. Feeling devastated right now.

This was not due to limit increases. You will need to compare your reports line by line, and side by side to see where the issue lies. Have you had any old account drop off of your report changing your AAoA or AoOA? Have you let all trade lines report in at $0 balances? There could be a lot of different cause for the decrease, however it is not due to CLIs.

Re: Credit Limit Increases and score dropped?

Horseshoez — Fri, 13 Jan 2023 16:23:53 GMT

@nlsnyder80 wrote:
I had 3 credit cards increase my limits this last month. Two were soft pulls and one was an auto increase. Nothing else has changed. No new inquiries, no new tradelines. Total credit utilization is less then 5%. My score dropped 36 points on one and 28 on another from the limit increases. Experian shows the limit increases but no change in my score. What the heck? Will it go back up? I've been gardening since December of 2022. Feeling devastated right now.

Are you referring to FICO or Vantage scores?

Re: Credit Limit Increases and score dropped?

RSX — Fri, 13 Jan 2023 17:13:13 GMT

i am guessing it is not the CLIs at all

you state this - "I've been gardening since December of 2022."

maybe you will see a change once the gardening hits 6+ months..not after 1 month

Re: Credit Limit Increases and score dropped?

SouthJamaica — Fri, 13 Jan 2023 18:22:55 GMT

@nlsnyder80 wrote:
I had 3 credit cards increase my limits this last month. Two were soft pulls and one was an auto increase. Nothing else has changed. No new inquiries, no new tradelines. Total credit utilization is less then 5%. My score dropped 36 points on one and 28 on another from the limit increases. Experian shows the limit increases but no change in my score. What the heck? Will it go back up? I've been gardening since December of 2022. Feeling devastated right now.

The credit limit increases did NOT cause any reduction in your scores.

Something else changed. You just need to find out what.

Re: Credit Limit Increases and score dropped?

OmarGB9 — Fri, 13 Jan 2023 18:40:30 GMT

As everyone else has mentioned, it was definitely NOT the CLIs. You need to go back and compare your reports side by side and go over every single line with a fine-tooth comb.

Re: Credit Limit Increases and score dropped?

FireMedic1 — Fri, 13 Jan 2023 21:50:26 GMT

@nlsnyder80Please dont think we judge or anything close around here. We dont. You didnt have to delete your opening post. Now others have really no idea what was asked and then there are responces. We're here to help each other out. Anyone judges or even thinks differently. Mods will take care of that. No question is too dumb. If you happened to find out what was the cause of the decrease. Let us know so others that fall into the same situation can fix or learn from it. Happy FICO'ing!

Re: Credit Limit Increases and score dropped?

RSX — Fri, 13 Jan 2023 22:05:42 GMT

^^^. agreed with above

@nlsnyder80

on the off chance that you took my post negatively - please know that it wasn't remotely meant that way

see my App Spree thread where I opened 5 accts in 2 days, and the resulting 30-45pt drop i had because of it - that certainly wasnt gardening on my part either

my scores are still trying to recover from that one - maybe in March

Re: Credit Limit Increases and score dropped?

nlsnyder80 — Fri, 13 Jan 2023 22:31:58 GMT

No not at all. I'm just super frustrated with it all. I didnt expect score increase but i definitely wasnt expecting such a big drop. I check everything practically daily. Have paid all my debt off except for a tiny bit on two cards. ($3600). The other 10 cards are currently at zero. Total credit limit 75k. My score has been steadily increasing the entire last year. I was feeling super confident I would hit close to 800 or over this next year. Having excellent credit is super important to me. Made lots of mistakes in the past and just was really proud of myself about how far I had came.

Currently going over all my reports line by line seeing what changed and trying to figure out what happened.

I appreciate all of the input and advice. 😊

It's vantage scoring that's showing the drop.

Re: Credit Limit Increases and score dropped?

SouthJamaica — Fri, 13 Jan 2023 22:45:59 GMT

@nlsnyder80 wrote:
No not at all. I'm just super frustrated with it all. I didnt expect score increase but i definitely wasnt expecting such a big drop. I check everything practically daily. Have paid all my debt off except for a tiny bit on two cards. ($3600). The other 10 cards are currently at zero. Total credit limit 75k. My score has been steadily increasing the entire last year. I was feeling super confident I would hit close to 800 or over this next year. Having excellent credit is super important to me. Made lots of mistakes in the past and just was really proud of myself about how far I had came.

Currently going over all my reports line by line seeing what changed and trying to figure out what happened.

I appreciate all of the input and advice. 😊

It's vantage scoring that's showing the drop.

Vantage scoring is much more volatile, and much less predictable, than FICO scoring. So it's inadvisable to get yourself worked up over any sudden movements in your Vantage scores.

Re: Credit Limit Increases and score dropped?

FireMedic1 — Fri, 13 Jan 2023 22:50:15 GMT

BINGO! Vantage is the culrit. If we all took Vantage scores/changes seriously we'd all be on a benzodiazapines for anxiety. Please use them for alerts only. Ignore the scores. Yes Sync uses them. But not everyone has a Sync card. You can get a free FICO score on the banner on top of every page here. Glad you verified and re-listed your post.

Re: Credit Limit Increases and score dropped?

tricie17 — Fri, 13 Jan 2023 22:57:45 GMT

@nlsnyder80 Personally I do not understand Vantage scores that well although I try to understand. I refer to them as hybrid however FICO is the standard of judging your report. You can purchase separate reports or all three to review. I even believe that Experian will give a free 3 Bureau report for a trial of 7 days after which you will need to cancel or keep for a monthly fee.

Re: Credit Limit Increases and score dropped?

FinStar — Sat, 14 Jan 2023 00:08:04 GMT

@nlsnyder80 wrote:
No not at all. I'm just super frustrated with it all. I didnt expect score increase but i definitely wasnt expecting such a big drop. I check everything practically daily. Have paid all my debt off except for a tiny bit on two cards. ($3600). The other 10 cards are currently at zero. Total credit limit 75k. My score has been steadily increasing the entire last year. I was feeling super confident I would hit close to 800 or over this next year. Having excellent credit is super important to me. Made lots of mistakes in the past and just was really proud of myself about how far I had came.

Currently going over all my reports line by line seeing what changed and trying to figure out what happened.

I appreciate all of the input and advice. 😊

It's vantage scoring that's showing the drop.

As mentioned by others, Vantage scores are bound to drive most folks bonkers due to their known fluidity. If a gnat lands on Vantage, scores plummet, but if a dragonfly lands on it, scores rise 🤷‍♂️ The Vantage models have some usefulness for other things, just not for what most financial institutions tend to use.

Do you have access to your FICO scores? You will definitely see a much different spectrum once you obtain them or if you decide to track them.

Re: Credit Limit Increases and score dropped?

nlsnyder80 — Tue, 17 Jan 2023 19:42:16 GMT

I checked my FICO scores and they haven't changed at all, limit increases all showing. So crisis averted. Lesson learned, not to stress over vantage scoring models. Thank you for all the the help and knowledge. Very much appreciated. 😊

Re: Credit Limit Increases and score dropped?

NoMoreE46 — Fri, 20 Jan 2023 03:23:34 GMT

Thank you for the follow up @nlsnyder80 .

Re: Credit Limit Increases and score dropped?

saadmiraaj — Sat, 21 Jan 2023 01:46:10 GMT

vantage score or fico?

@nlsnyder80 wrote:
I had 3 credit cards increase my limits this last month. Two were soft pulls and one was an auto increase. Nothing else has changed. No new inquiries, no new tradelines. Total credit utilization is less then 5%. My score dropped 36 points on one and 28 on another from the limit increases. Experian shows the limit increases but no change in my score. What the heck? Will it go back up? I've been gardening since December of 2022. Feeling devastated right now.

Vantage score or fico

Re: Credit Limit Increases and score dropped?

nlsnyder80 — Sat, 21 Jan 2023 14:50:08 GMT

It was Vantage scoring that showed the drop. FICO scores are unchanged. 😊