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FAKO scores confuse me..

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Established Contributor

FAKO scores confuse me..

Why am I being penalized for decreasing my balance? No wonder I can't get any increases on my Synchrony cards. 

 

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8 REPLIES 8
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Valued Contributor

Re: FAKO scores confuse me..

It's likely because of other information added as well so even though the amount went down is a plus it is probably taking into account other information that was updated/added that negatively affected it.










Message 2 of 9
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Established Contributor

Re: FAKO scores confuse me..


@Girlzilla88 wrote:

It's likely because of other information added as well so even though the amount went down is a plus it is probably taking into account other information that was updated/added that negatively affected it.


That was the only thing that updated. My Equifax is still way higher than my now TransUnion. Discover updates on the 23rd on all reports.. except TU reported it today for some reason. I don't understand why the decrease in balance affected only TU negatively. 



Message 3 of 9
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Moderator

Re: FAKO scores confuse me..


@Girlzilla88 wrote:

It's likely because of other information added as well so even though the amount went down is a plus it is probably taking into account other information that was updated/added that negatively affected it.


I would tend to think this is the possibility.  The alert may have included the latest decrease in utilization, but it's fairly possible other factors were included as part of the score fluctuation, such as your recently reported new accounts. 

 

What source was the update from?

 

ETA - your thread was moved to the General Credit Topics section as that is the most appropriate area for these types of discussions.

Message 4 of 9
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Established Contributor

Re: FAKO scores confuse me..


@FinStar wrote:

@Girlzilla88 wrote:

It's likely because of other information added as well so even though the amount went down is a plus it is probably taking into account other information that was updated/added that negatively affected it.


I would tend to think this is the possibility.  The alert may have included the latest decrease in utilization, but it's fairly possible other factors were included as part of the score fluctuation, such as your recently reported new accounts. 

 

What source was the update from?

 

ETA - your thread was moved to the General Credit Topics section as that is the most appropriate area for these types of discussions.


My actual FICO8's are all fine, no dramatic changes. This source is from CKarma (VS 3.0). I follow that a little more closely now that Synchrony uses it (VS 4.0) for CLI's nowadays.



Message 5 of 9
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Valued Contributor

Re: FAKO scores confuse me..

Keep us posted I'm very curious as to what it says is the issue?!










Message 6 of 9
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Community Leader
Senior Contributor

Re: FAKO scores confuse me..

VS3.0 showed me similar wonky scoring behavior last month when Synch purged my old Amazon derog. The account was old (6-1/2 years), but was a paid chargeoff that has been closed at zero balance for 5 years. The day of the update, my reports reflected two positive changes (IIRC one account aging past 3 months and one less account over 30%), plus the removal of the chargeoff. Net result was a drop of over 70 VS points. Seems to me that getting an account into good UTI territory and aging an account past 3 months, plus deleting a derog, should show a gain, but VS3.0 put more weight on the age of the derog than on the fact that it was basically the worst status a derog could have.

This kind of screwy scoring basis defies logic in my mind.


Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | PenFed PCR | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $95,400 | Agg. Util under 5%
Message 7 of 9
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Super Contributor

Re: FAKO scores confuse me..

513credit There is no doubt that something else happened other other than lowering the balance between this update and the last.

But the real reason I write is to address your concern with Synchrony. You can no more predict VS4 (which synchrony uses) from VS3 (that CK uses) than you could EX2 from EX8. VS4 is the first algorithm I’m aware of that uses trended data.

Therefore the difference between version 3 and 4 is so significant that there’s no way version 3 is going to offer much insight into version 4, but if you have a synchrony account you can follow your version 4.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Nov 2020, Clean/Thick/Mature/No New Account Scorecard (EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 8 of 9
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Established Contributor

Re: FAKO scores confuse me..

Still not sure what happened but my scores are back to normal now. 

 

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Message 9 of 9
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