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Question on CC reporting and Utilization

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Super Contributor

Re: Question on CC reporting and Utilization


@beachglass wrote:

Update. Increased my Cap 1 reporting to 116.00, waiting to see what happens.  Also ordered credit reports to see what changes might have happened in Sept. to see what might have caused this score drop, other than 2 cards reporting a small balance as the cause of this. I did check my 3b report that I ordered in November after this happened and still see no real cause for this point drop across all three CRA's.   Question, is it possible it was a rebucket situation?  Most new CC's aged their 2 year mark in October, on both mine and my husband's. We both had this significant drop in scores in October.  We are post bk now about 2 1/2 years. So wondering if maybe these cards hit a 2 year mark in October, changed the AAOA, changing the FICO scorecard, causing the drop. Just a thought.

 

 

Here is the drop that occurred.

 

9/19/2016  Alert:  Eq: From 718 To 696,  Reason Alert: Balance increase of 384.00

 

9/18/2016 Alert:   TU: From 700 To 682,  Reason Alert: Bankcard Balance Change

 

9/18/2016 Alert:    Exp. From  705 To 685   Reason Alert: Balance increase of 384.00

 

Again, this was from reporting 2 balances, which I should have recovered from by now.   Worked so hard after Bk was closed over 2 years ago and to see those scores drop so much and not recover is concerning me.

 

Ch.13 Discharge 8/2014

They are not "reason alerts". They are merely events that are being reported. If they have a score change attached, that's just because there was a score change. There is not necessarily any causal connection.


Total revolving limits 653000 (575000 reporting)

Message 21 of 30
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Established Contributor

Re: Question on CC reporting and Utilization

I know, I just put that wording in there, Reason Alert, just to clarify that was what the alert said.    Still nothing explains big drop in scores. Can't find anything as of yet.

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 22 of 30
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Moderator Emeritus

Re: Question on CC reporting and Utilization


@beachglass wrote:

I know, I just put that wording in there, Reason Alert, just to clarify that was what the alert said.    Still nothing explains big drop in scores. Can't find anything as of yet.


I would concur something else is conflated in there.

 

On the assumption your BK = similar scorecard as my tax lien (only difference would be age), I'm pretty confident in saying other than EQ you shouldn't have taken a hit for 2 cards with balances on FICO 8 and it would likely be small.




        
Message 23 of 30
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Established Contributor

Re: Question on CC reporting and Utilization

Yes, just cant find anything. I checked my CR via My Fico in early November and nothing stood out/changed that would have caused this drop.

I did try reporting a higher UTL thinking I wasn't reporting enough on my one card the last few months so increased the reporting balance by 67.00 to a total of 116.00. I rec'd alerts today it reported just noted increase in balance change, no change in points either way. It did say 0 % percent to 1 % which was my question when I posted. Was I not reporting enough of a balance on that one card, but I don't really think this is it. I have ordered CR's from annualcreditreport as well this week, just waiting for them, for some reason I could not get them online, computer issues on there end, not sure?  It was way too many points to lose just because of an error in Sept of reporting two small balances on 2 cards and has been only reporting 1 card the last few months, just never recovered.

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 24 of 30
Highlighted
Moderator Emeritus

Re: Question on CC reporting and Utilization


@beachglass wrote:

Yes, just cant find anything. I checked my CR via My Fico in early November and nothing stood out/changed that would have caused this drop.

I did try reporting a higher UTL thinking I wasn't reporting enough on my one card the last few months so increased the reporting balance by 67.00 to a total of 116.00. I rec'd alerts today it reported just noted increase in balance change, no change in points either way. It did say 0 % percent to 1 % which was my question when I posted. Was I not reporting enough of a balance on that one card, but I don't really think this is it. I have ordered CR's from annualcreditreport as well this week, just waiting for them, for some reason I could not get them online, computer issues on there end, not sure?  It was way too many points to lose just because of an error in Sept of reporting two small balances on 2 cards and has been only reporting 1 card the last few months, just never recovered.


Yeah it's hard to tell.  Basically you need a before and after report which is why Credit Karma is so darned good because if you pull weekly you can get a pretty good snapshot of before and after for two different bureaus.  I'm sort of stuck on EX unless I go find another monitoring service, which is unfortunate as EX is really the bureau I care about.

 

Also aging factors complicate it, and those can be really hard to pin down.  AAOA to 2 years was a small boost for me, like 4 points across the board: hardly significant but not a drop.  That said my tax lien at that point was 4ish years old and that might be different than a 2.5 year BK for scorecard assignment, maybe.

 

I'm really irritated with annualcreditreport on Equifax, going to snail mail that one I guess... was never a problem before I moved now they can't get my address right no matter what I do.




        
Message 25 of 30
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Established Contributor

Re: Question on CC reporting and Utilization

Funny thing is, I check CK on a weekly basis, nothing had changed. I have been a bit obsessed with rebuilding my credit since the BK and the fact that we will be going for a mortgage in the next few months. I check everything, this is why I am so perplexed. 

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 26 of 30
Highlighted
Moderator Emeritus

Re: Question on CC reporting and Utilization


@beachglass wrote:

Funny thing is, I check CK on a weekly basis, nothing had changed. I have been a bit obsessed with rebuilding my credit since the BK and the fact that we will be going for a mortgage in the next few months. I check everything, this is why I am so perplexed. 


Start looking at the age on everything, which actually I need to start doing since I got a random +6 boost on EQ FICO 8 on 12/1, which is awfully coincidental timing being the first report after a new month started.

 

If you had a report with reason codes from before when your score was better, if you're worried about mortgage this is one of the times I'd consider pulling another report and see if the reason codes shifted... since it was on all 3 bureaus it's not something idiosyncratic with a particular bureau so just one bureau'd be fine.




        
Message 27 of 30
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Established Contributor

Re: Question on CC reporting and Utilization

I will take you up on that and take a look at the age of the accounts to see if something changed there. Hoping I find the answer to this soon. Thank you for all of your help.

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 28 of 30
Highlighted
Moderator Emeritus

Re: Question on CC reporting and Utilization


@beachglass wrote:

I will take you up on that and take a look at the age of the accounts to see if something changed there. Hoping I find the answer to this soon. Thank you for all of your help.


Yeah I just trawled through my own EQ report and there was only one doozy: my lien was filed Dec 1st 2010.  Maybe I got a few points for it's being 6 years old, wasn't inquiry, wasn't AAOA wasn't age of oldest accounts, and it certainly wasn't the balance increase that got reported so hrm.




        
Message 29 of 30
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Established Contributor

Re: Question on CC reporting and Utilization

It is a bit of a challenge to figure it out sometimes. 

 

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 30 of 30
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