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Can you do TOO many positive things to your credit?

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Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?

tomato...tomahto...Any score that drops 137 points after one card is paid down to $5 from thousands and a collection is removed that you're supposed to "ignore" seems pretty unreliable to me. I think it's safe to say I *can't RELY* on my vantage scores that no one uses to assess my credit situation making it UNRELIABLE. 

Message 11 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?

I happened by WalletHub earlier today & upon checking my Credit Timeline I noticed this: 

 

Credit Score Increase!
Congratulations! As of Feb 14, 2019, your credit score rose 30 points relative to the day before. This could help you qualify for better terms on credit cards and loans.
Got It
 
Having read this thread earlier in the day it occurred to me Vantage 3.0 score volatilty might be intentionally programmed. This message is all but pushing me out the door to go apply for a credit product which, thankfully, WalletHub provides links for. Hypothesis: greater score variance produces more applications for credit products. 
 
The OP is distraught today, down 100+ points. Next week when the score rebounds, maybe a message similar to mine encourages a credit card application or two?
 
Message 12 of 24
FlaDude
Established Contributor

Re: Can you do TOO many positive things to your credit?


@Anonymous wrote:

tomato...tomahto...Any score that drops 137 points after one card is paid down to $5 from thousands and a collection is removed that you're supposed to "ignore" seems pretty unreliable to me. I think it's safe to say I *can't RELY* on my vantage scores that no one uses to assess my credit situation making it UNRELIABLE. 


You'll know how reliable the VS scores are when you get your next FICO scores. In your shoes I'd be taking a close look at my EQ report for any unexpected items.

Scores: March 21 FICO 8: EX 810, TU 808, EQ 813
AoOA: closed: 36 years, open: 25 years; AAoA: 11.8 years
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Freedom Unlimited, Chase Amazon, Chase CSP, Chase United Explorer, Citi AA Plat, Sync Lowes, Sync JC Penney - total CL 145k
Loans: Chase car loan (35k/6yrs 0.9%)
Message 13 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?


@Anonymous wrote:

tomato...tomahto...Any score that drops 137 points after one card is paid down to $5 from thousands and a collection is removed that you're supposed to "ignore" seems pretty unreliable to me. I think it's safe to say I *can't RELY* on my vantage scores that no one uses to assess my credit situation making it UNRELIABLE. 


Actually, you just learned something about the VS 3.0 algorithm, such that if you were to replicate the same event again in the future, you could "rely" on a similar result.  Score changes under any model are drawn only from data.  Data goes one way, score movement is X.  Data is exactly reversed, score movement is -X.  To me that's reliable, just not relevant/meaningful if you're talking VS 3.0 scores.

Message 14 of 24
Caardvark
Frequent Contributor

Re: Can you do TOO many positive things to your credit?

On the surface... you are absolutely right. Nothing that you did should have dropped your FAKO scores that much. 

 

The point everyone is trying to make is simply that "because they are FAKE scores, it doesn't matter." That said, is it a possible red flag? Maybe. The only way to find out for sure is to get your true FICO scores. Then, update the thread and people will gladly help diagnose (if needed). As someone earlier mentioned, you can get your scores for $1 so, there is no reason not to get them. One of two things will happen: 1) you'll find they barely budged (if at all) and your mind will be at ease, or 2) they will have moved and the experts here can provide guidance. Win-Win

 


@Anonymous wrote:

Nothing I have done would make my FAKO scores drop that much either...that’s the point I made.


 


Message 15 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?

Scores from the VS 3.0 model are not "fake," they're just from a non-FICO model.  They are two different products and one isn't trying to pretend to be the other.  It's like a Honda verses a Toyota.  Different products.  Apples and Oranges.  If someone chizzled their Honda emblems off of their car and glued on Toyota emblems, perhaps the argument could be made that it was a "fake" Toyota or something, but that's not what VS 3.0 is trying to do here.  Smiley Wink

Message 16 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?

AGAIN, I have my fico scores. I've posted multiple times what they are doing and they are going up while VS is going 137 down. 

Message 17 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?

BINGO! I 110% agree. Thank you for being one of two that didn't try to dumb me down. 

Message 18 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?


@Anonymous wrote:

AGAIN, I have my fico scores. I've posted multiple times what they are doing and they are going up while VS is going 137 down. 


Which is 100% fine and can even be considered "normal" as they are two completely different scoring models and there's no correlation between them.

Message 19 of 24
Anonymous
Not applicable

Re: Can you do TOO many positive things to your credit?


@Anonymous wrote:

AGAIN, I have my fico scores. I've posted multiple times what they are doing and they are going up while VS is going 137 down. 


You’re missing the point so I am just going to break it down for you. 

 

This site is owned by Fair Isaac Corporation, the makers of the FICO score as well as the myFICO consumer line of credit products and it should be a natural expectation to be asked to post your FICO scores when asking for assistance here. 

 

Your VantageScore is a meaningless number when it comes to your credit. No lenders are using VantageScore exclusively to make their credit decisions and the sheer volatility of VantageScore makes them unsuitable for anything other than what they’re used for and that’s to market credit products to consumers who don’t know any better. 

 

Lastly, not once in this whole thread have you shared what your FICO scores are, despite repeatedly being asked for your FICO scores and told how to obtain them so I am unsure what assistance you are expecting — you are literally freaking out over a score that has no impact on your actual creditworthiness while posting on the very forum that could assist you with your credit goals if you provided those very numbers. 

 

From your post you seem to actually have a myFICO subscription and thus have access to your scores so I don’t understand why you haven’t shared them and continue to go on about your VS which you yourself admit is unreliable. 

Message 20 of 24
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