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Eeeek! 50 point drop on Credit Karma

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Anonymous
Not applicable

Re: Eeeek! 50 point drop on Credit Karma


@Anonymous wrote:

myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.


 

The alert actually listed the inquires as the reason for the score change (increase). 

Message 11 of 17
sarge12
Senior Contributor

Re: Eeeek! 50 point drop on Credit Karma


@Anonymous wrote:

@Anonymous wrote:

Take it as a grain of salt. CK told me my scores went down 8 points due to recent inquires on Transunion & Equifax. When I got the FICO alert, I was nervous because of what CK said, but on TU my score actually went up 37 points because of the inquiries. ............... I don't know why, but it did. 


myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.

 

For a better insight as to what's causing FICO 8 scores, and likewise with related FICO models, to change is to subscribe to a service that provides frequent, detailed updates, such as CreditCheckTotal.com


But not to be overlooked is the new accounts that I suspect were a result of the inquiries. If new credit limits resulted in a much lower utilization...that could result in a large credit score increase.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 12 of 17
Anonymous
Not applicable

Re: Eeeek! 50 point drop on Credit Karma

I agree with everyone else.  Just use credit karma to monitor your reports.  

 

I see weekly up and downs (especially on TU) anywhere from 60-75 points up and down.   But my ficos on credit check total only fluctuate a couple points either way.  

Message 13 of 17
Anonymous
Not applicable

Re: Eeeek! 50 point drop on Credit Karma


@Anonymous wrote:

@Anonymous wrote:

myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.


 

The alert actually listed the inquires as the reason for the score change (increase). 


Yes, it will often appear that way. The inquiries are the reason for the alert, but any score change is the result of ALL cumulative report changes since the last score recalculation, not simply the alert trigger.

Message 14 of 17
Anonymous
Not applicable

Re: Eeeek! 50 point drop on Credit Karma

My CK scores updated yesterday and I got a 20 & 26 point increase (to 708 TU and 700 EQ) - I'm not too sure what caused the jump.

 

I've been paying down some debt that I've had to carry this year, I paid down $4K in July, but just made normal payments in August. 

 

I'm not putting much stock into the jump on CK.... I'm anxiously waiting for MyFico to update so I can see if I at least got a bump on my FICO scores.

Message 15 of 17
Anonymous
Not applicable

Re: Eeeek! 50 point drop on Credit Karma

 
Message 16 of 17
FireMedic1
Community Leader
Mega Contributor

Re: Eeeek! 50 point drop on Credit Karma

Scores on CK are useless. TU and EQ are 55-65 points lower than FICO for me. But when my HP for Discover It showed up last week. They listed as a Gas Card! Smiley Very Happy


Message 17 of 17
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