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Dropped 29 points?!?!?!

mplssd09
New Visitor

Dropped 29 points?!?!?!

Hello,

 

I was a WAMU customer and checked my FICO frequently. As you probably know, Chase took them over and discontinued the service. I just tried the free 30 day trial and my score went from 699 to 670. The only thing that has happened in that time is that I used my tax return to make even bigger payments to my 2 credit cards. I have not been late in years. My balances are high but, they are getting lower, not higher.

 

What went wrong, what can I do?

 

Thanks!

Message 1 of 5
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medicgrrl
Valued Contributor

Re: Dropped 29 points?!?!?!

FICO basically calculates the scores based on the different credit bureaus and how they want them tweaked.  My Equifax score is called a Beacon score but is still calculated by FICO.  Trans Union calls their score FICO and Experian calls theirs Fair Isaac.  They are all FICOs but are slightly different.  As you can see by my scores, there can be a drastic difference in scores based on what is being reported with each CRA.  My Equifax is the lowest because there are more negative items being reported to them.  Experian has less being reported.  It is important to get your free credit report from all 3 bureaus so you know what is being reported to each.  Also, you can get 2 of your scores from here (TU and Equifax)  Experian no longer allows you to obtain your true FICO score that they use.  I happened to get my Experian from a mortgage company that pulled my credit.  It may be that your score didn't drop but that you are looking at two different scores.


EQ 778 EXP 782 TU 729
Message 4 of 5
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medicgrrl
Valued Contributor

Re: Dropped 29 points?!?!?!

Are you sure those were true FICO scores that WAMU was providing and not FAKO scores from the CRA's?  The only way you would know what changed would be to compare your credit report from when your score was higher to your credit report now.  There may be something that has changed on there that you are not aware of.


EQ 778 EXP 782 TU 729
Message 2 of 5
mplssd09
New Visitor

Re: Dropped 29 points?!?!?!

I know its not the best source but, wikipedia says it was a FICO score that WAMU was providing.

 

I see that you are posting 3 sperate scores... isn't there only 1 FICO score and 3 seperate credit reports?

 

I also see your scores vary by more then 100 points.

 

Maybe I just don't understand what I am looking at? Maybe they were different scores?

 

Thanks for your response!

Message 3 of 5
medicgrrl
Valued Contributor

Re: Dropped 29 points?!?!?!

FICO basically calculates the scores based on the different credit bureaus and how they want them tweaked.  My Equifax score is called a Beacon score but is still calculated by FICO.  Trans Union calls their score FICO and Experian calls theirs Fair Isaac.  They are all FICOs but are slightly different.  As you can see by my scores, there can be a drastic difference in scores based on what is being reported with each CRA.  My Equifax is the lowest because there are more negative items being reported to them.  Experian has less being reported.  It is important to get your free credit report from all 3 bureaus so you know what is being reported to each.  Also, you can get 2 of your scores from here (TU and Equifax)  Experian no longer allows you to obtain your true FICO score that they use.  I happened to get my Experian from a mortgage company that pulled my credit.  It may be that your score didn't drop but that you are looking at two different scores.


EQ 778 EXP 782 TU 729
Message 4 of 5
mplssd09
New Visitor

Re: Dropped 29 points?!?!?!

I really appreciate your time and effort. Thank you very much Smiley Wink
Message 5 of 5
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