Score dropped 50 points, only change was a balance decrease of $390

[RickNATL]

I don't put too much into CK...I use it moreso to monitor for ID Theft, balace updates, etc.(basic activites). I use the MYFICO service to monitory my true scores...CK on some whole other level that determines your score...your balance goes down, score goes down, pay off too much and the score drops again, bla bla bla...

[Anonymous]

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@Anonymous wrote:

I have no idea what to make of this. Nothing on my report changed, except that I paid off $390 on one of my credit cards.  

This is a screenshot from Credit Karma, Transunion VantageScore 3.0  

https://i.imgur.com/1d7rHsm.png 

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This actually happens with FICO scores too. What is happening is CK is sending you an alert and displaying whatever changes that they monitor that last happened on your report. I know it is kind of confusing but the alerts are not necessarily tied to the score change, the software just makes it look that way. For example you said you paid off $7,000 in debt. Did you pay all your CC down to zero? That will drop your score. Also there is no such thing as "nothing changed on my report". Every day things on your report age and somethings age off your report. Your report is in constant change. CK lets you see historical reports. Look at your report before the score change and after. Look for old accounts aging off.

[tricie17]

Sometimes Transunion will use a Vantage score as Fico 8 and/or they have to alter their scoring to fit into the Fico scoring system.   Transunion uses this Vantage scoring regardless of the fico 8 algorithyms.  I sometimes have a Vantage score populate as Fico 8 scoring on my reports and I always pull fico 8 scores.  I believe this is why Transunion will drop scores when an account has shown a decrease in useage. This scoring confuses that particular Bureau causing decreases on peoples reports.  Transunion needs to get with the program or check out.

[silver_idle]

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@Anonymous wrote:

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@Anonymous wrote:

I have no idea what to make of this. Nothing on my report changed, except that I paid off $390 on one of my credit cards.  

This is a screenshot from Credit Karma, Transunion VantageScore 3.0  

https://i.imgur.com/1d7rHsm.png 

---

This actually happens with FICO scores too. What is happening is CK is sending you an alert and displaying whatever changes that they monitor that last happened on your report. I know it is kind of confusing but the alerts are not necessarily tied to the score change, the software just makes it look that way. For example you said you paid off $7,000 in debt. Did you pay all your CC down to zero? That will drop your score. Also there is no such thing as "nothing changed on my report". Every day things on your report age and somethings age off your report. Your report is in constant change. CK lets you see historical reports. Look at your report before the score change and after. Look for old accounts aging off.

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This. FICO and Vantage will decrease if utilization is 0% or extremely low. This happened to me after paying off a card when my utilization was around 6% but now its 1% (or 0.55% exactly but its rounded to 1%) and this dropped my score by 12 points on average with FICO 8 across the board and by 50 points on average with vantage 3.0 (atleast with TU and EQ on CK and WH, EX vantage havent changed by much it seems). Kind of my fault since a charge didnt get included in a statement for it to be higher but not concerned. Just continued making on time payments, practice good credit habits (eg low utilization, pay in full, etc) and leave enough on your card (around $10) for it to report to the CRA so the utilization would be a tad higher, or if your credit line is higher, leave a little more to report.

Credit Karma does give a "nothing changed" but they also dont talk about the aging of accounts, which is a factor in your score. They also say its nothing because everything is done throughout the month that factors into the score (which seems to always have a major update each month depending on the report the previous month). However, I wouldnt rely on them for scoring to much as many others have stated. FICO is commonly used in the lending industry and even though Vantage is used by a small few, it doesnt really warrant paying attention to it since they are two scoring models that handles your CR data differently to determine the score.

[Anonymous]

Any recent late payments?

[Anonymous]

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@Anonymous wrote:
Any recent late payments?

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I actually was late by 2 days on one account, it was not a "missed payment" on my credit report since it was not 30 days late. I was charged a late fee, and the balance decreased by $3 rather than the normal $30.

I forgot to enable email notifications when a payment is due which is how I normally track payments. For the last year I guess I have just been remembering without seeing an email.

[Anonymous]

That $3 balance decrease was reported in my Jan 25th report, and there was no score change from that.