Experian score increased...

[Anonymous]

I belong to credit expert and ordred my experian report yesterday my score was 667 today I re ordered it and it was 704 the only thing that changed between yesterdays and todays report was a 7.00$ balance is now reporting at 0. I also know that these scores are not FICOS but are a FAKO score. I had a lender pull on the 6th and between waht the FAKO and FICO was is a 14 pt difference. My question is what reason would my score go up for? Can a 7.00 balance really make such a difference?? I guess im always afraid that they will realize they made an updating error then take my points away :/

[GregB]

One of the factors in a FICO is the utilization percentage. That is the total amount you owe on revolving credit divided by your total credit limit on your revolving accounts. There is another factor that is probably causing the effect you noticed. It is the number of accounts with balances divided by the total number of accounts.

Let's say you have 6 open accounts and you had 4 of them with balances. One of the accounts had a balance of $7. You could pay that $7 off, which wouldn't change the utilization by much BUT you now have 3 accounts with balances instead of 4.

The FAKO from Experian also seems to change in a similar manner. I do know they are different. I have seen some changes affect one but not the other. When a change on both reports make a change in the score, they have always been in the same direction. They are rarely changed by the same amount of points.

Currently my EQ FICO is 708 and my EX FAKO is 766. They would not always be 58 points different.

[Anonymous]

Experian has a sliding scale you can use and shows how

your score will change.  They allow up to 15% utilization with

 no change; inquiries  will change 2-3, 4-5, etc. ; open accounts

changes at 1-2, 2-3, etc.  You can actually see your score move

up and down.