48 point drop? Followed by 38 point Gain? All In Two Days?

[e123]

Not sure what is going on. I applied for and was approved for two credit cards so I expected my scores to drop slightly. Transunion report went from 783 down to 735 on Feb. 

7th. The alert shows the drop but no reason for the drop? So I pull my Transunion report today ( 2/10 ) and score has returned to 773? No changes in my report other than new accounts being listed? Any ideas of why the sudden drop and then gain? 

[Anonymous]

Maybe the action of applying dropped your score. Followed by the approval and new credit raising it. It just seems like it didn't reflect all of the changes yet.

[e123]

Could be. I found it odd the score alert did not list a reason for the 48 point drop. Two days later 30 something point gain. 

[takeshi74]

To determine the cause(s) of any scoring change you have to carefully review reports from before and after the change.

If you're using myFICO's monitoring then make sure you understand that it is trigger based.  Not all activity with a scoring impact is a trigger so you cannot rely solely on alerts/updates or assume that all of the scoring impact occured when the trigger activity occurred.

http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bu...

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@e123 wrote:

No changes in my report other than new accounts being listed? Any ideas of why the sudden drop and then gain? 

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Changes are not just additions or deletions.  We have no idea are there are many possisiblities.  The reasons are in your report data (well, the changes, that is).  Any score is generated based on the data in a report.

[e123]

One more time. Yesterday ( 4-7-2016 ) I get an alert that a new address has been added ( not mine ) to my Transunion credit report and my score dropped by 25 points?

I start to file a dispute but first look over my Transunion report. Everything looks as it should and the address that set of the alert is not on the report. Today ( 4-8-2016) I order a Transunion report from myfico and now my score is 772. So yesterday the alert said my score was 740 after the 25 point drop and new address being added - today all 25 points regained plus 7 more points. This is the second time I have seen major point losses and gains in 24 hours.

Anyone have any idea of what's going on?  

[Berk]

I learned a long time ago to not obsess over my scores. They go up and down month to month. I want a steady increase over time. Trigger based scores will do that. You use a credit card not used the month before - 3 point drop. You charge less this month then last month - 2 point increase. You charge 328% more this month than last month - 10 point increase. I've had one CRA give me a 5 point increase and another CRA give me a 10 point decrease for the exact same activity. 

Unless you are in the middle of buying a house or going through a re-fi I wouldn't worry about the changes you see on MyFico - unless, of course, the bottom drops out of your scores. I am also not suggesting that you do not research what caused your scores to drop - I look at every change in mine - I am suggesting to not obsess about it - life is too short and there are way too many credit cards to app for!

[e123]

Thanks. I know you are right. I try not to get overly concerned about anyone credit event. 

I worked hard to overcome a divorce and chapter 7. I am happy as long as my scores trend up. I hope to crest 800 later this year. 

[Anonymous]

Transunion is screwy, has been for about a year. As long as nothing has changed in your file, don't worry about it.

[Berk]

I ruined my credit by my late 20s. Took me 20 years to get to where I am now. Of course, for 15 of those years, I didn't have the benefit of My Fico. 

[e123]

Thanks for the info. I'd have to agree Transunion has been screwy, at least recently for me.