This does not make any sense. I've moved many times before and I don't recall that it ever affected my credit score.
Have you pulled your credit report to make sure nothing else is showing that can explain the drop?
If you have a CK account. Check there and see if any changes occurred. It wasn't an address change. Something else caused the MyFICO trigger. Moving to a new address does not change your credit score.
@Anonymous wrote:As the title states, logged into MyFico this morning to an alert for an address change and a subsequent -14 point hit to my Experian score. Logged into Experian and saw the matching -14 point hit there for the same reason.
Since when it moving a cause for a hit like this?
You have no way of knowing that the address change caused the score change. I am skeptical that it did.
@Anonymous wrote:As the title states, logged into MyFico this morning to an alert for an address change and a subsequent -14 point hit to my Experian score. Logged into Experian and saw the matching -14 point hit there for the same reason.
Since when it moving a cause for a hit like this?
No chance. Your administrative information like your name, address, or employer have no bearing on your FICO scores. Something else caused your score loss.
I'll offer that if it's an action you're not aware of, then it's one of those invisible items, like a card or account scrolling off, lowering your average age of accounts.
Or a negative like a late, tho' that'd almost certainly cause a more significant point loss.
@HeavenOhio wrote:@Anonymous, when you reported the address change, was the balance higher than it was previously? I believe that when presented with address changes, most lenders will simply report like they would at statement time. Whatever your balance is at that time will end up on your report.
Correct! I experienced this (address change....or, better said, I corrected an incorrect address with Discover (the credit card) and this initiated an off-cycle reporting).
There are certain "events" that result in an immediate reporting. Address change appears to be one of them. So, in my situation, when I corrected the address (in the street address the "House Number" was off by one number.....) with Discover directly this resulted - unbeknownst to me at the time of making the address correction - in an off-cycle reporting. Unfortunately, in my situation, the 'balance' was a lot higher than what I allow to report. It was some $454.....that is to-date the highest reported balance on my Discover card (still, more than one year later).
So, this passes the 'smell test' according to my experiences. Sure does not seem to make sense....until we experience it, right?
Starting Score: Exp 627
@Anonymous No! There is nothing to dispute (and I would tread very lightly with 'disputes'). The Financial Institutions have 'set events' that result in a so-called off-cycle report. Address change is one of them - as mentioned. The only thing that one can do is (a) know about this and (b) take appropriate action BEFORE making that correction (in this case, the address correction). Sorry that I do not have a better answer....but that is what I would recommend to anyone and to everyone - make sure that the current balance is what you want it to be AND THEN make the correction.