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myFico EQ says I have recently missed a payment

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ceejay78
Contributor

myFico EQ says I have recently missed a payment

I received an alert on myFico that my EQ 8 dropped 10pts 693 - 683 and when I checked why, a remark mentioned I have recently missed a payment, which I have not. I have 2 paid CO that are scheduled to fall in 6 and 12 months, and a BK 7 DC in April 2014. I even got a report from annualcreditreport.com and checked my Equifax without the recently missed payments. I am wondering where myFico is getting this info... No rhyme or reason. My paid reports from Experian do not have this negative remark. TIA!

 

Screen Shot 2022-06-08 at 08.07.36.png

FICO 8: EX 764 TU 770 EQ 762
FICO 9: EX 781 TU 781 EQ 785
Message 1 of 9
8 REPLIES 8
SouthJamaica
Mega Contributor

Re: myFico EQ says I have recently missed a payment


@ceejay78 wrote:

I received an alert on myFico that my EQ 8 dropped 10pts 693 - 683 and when I checked why, a remark mentioned I have recently missed a payment, which I have not. I have 2 paid CO that are scheduled to fall in 6 and 12 months, and a BK 7 DC in April 2014. I even got a report from annualcreditreport.com and checked my Equifax without the recently missed payments. I am wondering where myFico is getting this info... No rhyme or reason. My paid reports from Experian do not have this negative remark. TIA!

 

Screen Shot 2022-06-08 at 08.07.36.png


You're looking at the negative reason codes, not an "alert". I'm guessing it's just a reference to the chargeoffs, rather than some new information.

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 687

Message 2 of 9
ceejay78
Contributor

Re: myFico EQ says I have recently missed a payment

hello @SouthJamaica thanks for the response and for the clarification, but the recent missed payment which is new to me and is incorrect. I am well aware of my negatives, but a recent missed payment is incorrect and caused my score to drop down 10 pts. my 2 COs are 7 and 6 years old and one is about to be removed in October per Equifax.

FICO 8: EX 764 TU 770 EQ 762
FICO 9: EX 781 TU 781 EQ 785
Message 3 of 9
SouthJamaica
Mega Contributor

Re: myFico EQ says I have recently missed a payment


@ceejay78 wrote:

hello @SouthJamaica thanks for the response and for the clarification, but the recent missed payment which is new to me and is incorrect. I am well aware of my negatives, but a recent missed payment is incorrect and caused my score to drop down 10 pts. my 2 COs are 7 and 6 years old and one is about to be removed in October per Equifax.


1. It's probably not a reference to any recent event, but just a negative reason code which has been suppressed but popped up now due to the removal of a higher negative reason code.

 

2. There is no reason to think that the emergence of a negative reason code caused a score change. It wouldn't and it didn't.

 

3.  This was not an alert.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 687

Message 4 of 9
ceejay78
Contributor

Re: myFico EQ says I have recently missed a payment

@SouthJamaica very well noted! thank you for the explanation

FICO 8: EX 764 TU 770 EQ 762
FICO 9: EX 781 TU 781 EQ 785
Message 5 of 9
donkort
Valued Contributor

Re: myFico EQ says I have recently missed a payment

You would probably lose much more than 10 points for an actual missed payment.

 

I lost 89 points (since reversed) when I missed a payment because my automatic payment didn't go through.

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 6 of 9
ceejay78
Contributor

Re: myFico EQ says I have recently missed a payment

@donkort thanks for clarifying. From history of missing payments, you are correct that a score will drop down 60+ pts for it. Now, I am guessing it may be because i tried disputing for an EE of a paid CO that EX and TU did, but of course EQ would not budge.

FICO 8: EX 764 TU 770 EQ 762
FICO 9: EX 781 TU 781 EQ 785
Message 7 of 9
Iusedtolurk
Established Contributor

Re: myFico EQ says I have recently missed a payment


@ceejay78 wrote:

@donkort thanks for clarifying. From history of missing payments, you are correct that a score will drop down 60+ pts for it. Now, I am guessing it may be because i tried disputing for an EE of a paid CO that EX and TU did, but of course EQ would not budge.


@ceejay78  Not sure when you requested an EE from Equifax but they generally don't do them until 30 days out. Trans generally does them 6 months out and Experian 3 months out.

Message 8 of 9
ceejay78
Contributor

Re: myFico EQ says I have recently missed a payment

@Iusedtolurk Experian was reporting it to be removed in July 2022. I requested all 3 in May. EX and TU removed them right away. I called EQ and was told that it is scheduled to drop off my report in Oct 2022. -- (weird that they have a different date) I also learned from EQ when I called that Cap1 reported a 2016 missed payment  - disputed this one as acct paid and closed and should not be reporting a missed payment again that happened in 2016 - this caused the 10 pts to drop. I called Cap1 and said they have not reported any old missed payments - EQ is such a mess sometimes...

FICO 8: EX 764 TU 770 EQ 762
FICO 9: EX 781 TU 781 EQ 785
Message 9 of 9
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