Score Watch Credit Alerts

[Smartcor]

I have score watch and some times it can be extremely frustrating. Several times I've had my score drop and the credit alert says: Your FICO score decreased to 738 on August 16, 2007. This score decrease may be caused by these 2 new reasons: * You have multiple accounts showing missed payments or derogatory descriptions. * You recently opened a new credit account. Now, this information is NOT true. I have not opened any cards in about a year and I have not missed payments in many years. There are no derogatory issues there either. So, I called FICO and one person says that it is FICO's mistake, that they were reporting as current something that is 6 years old. But, my score still dropped about 13 points. Then, when it is not corrected, I called again and this time the person says that there are no mistakes. At this point, besides pulling my hair out, what can I do? I'm looking to buy a commercial building and have been working towards 760 or more. But, at this rate it just plummets for no reason!

[sl]

what is your utility? have yo missed any payments? anything change?

[Smartcor]

No missed payments, no changes. The only fluctuation is what I charge each month but I pay if off at the end of the month. Thanks for your reply. I was starting to think that it was invisible.

[Anonymous]

This same thing happens to me....my score just falls for no apparent reason with no changes, even when I DONT use my cards at all. I cannot explain it, but I want you to know that I feel you pain and frustration. I am keeping a log of my scores to see if there is any pattern to the rise and fall. Other than this, I cant suggest much else. Sorry, Missy

[Anonymous]

I'm not certain, but I think it might have to do with any accounts you have that have been inactive for a while. Check the other credit forum. One member said she got a 30+ point increase for using a CC that had been inactive for a while. I think someone else said their score went down for not using it for a while. Hope this helps.

[cadavis0609]

For max Fico points, keep utilization between 1-9%. Sitting dormant in your sock drawer fails to show ability to use credit responsibly

[Smartcor]

Missy, have you called Fico when your falls? If so, what explanation do you get?

[Smartcor]

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@Anonymous wrote:

I'm not certain, but I think it might have to do with any accounts you have that have been inactive for a while. Check the other credit forum. One member said she got a 30+ point increase for using a CC that had been inactive for a while. I think someone else said their score went down for not using it for a while. Hope this helps.

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Digitu, I use mine once every three months precisely for that reason and only for a minimal amount. It is very discouraging to do what is right and have a decrease in your score.

[Smartcor]

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@cadavis0609 wrote:

For max Fico points, keep utilization between 1-9%. Sitting dormant in your sock drawer fails to show ability to use credit responsibly

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Fico recommended that I not use more than 32% of my credit limit per card. Is this what you are referring to?