cancel
Showing results for 
Search instead for 
Did you mean: 

14 point increase followed by 21 point decrease??

Savace88
Established Member

14 point increase followed by 21 point decrease??

Hello all, my fico equifax score rose 14 points on a balance increase on my discover card 0 - $549 I then paid it off 2 days later and then I just recieved a 21 point decrease in score... 1st I'm wondering why I gained points on a increase of balance with a credit card. And 2nd why I just lost 21 points?. The fico alerts show no reason why. My overall utilization is 3% as I still have other cards with small balances. I'm totally confused can anybody help or relate to this? 

Message 1 of 5
4 REPLIES 4
ImTheDevil
Community Leader
Super Contributor

Re: 14 point increase followed by 21 point decrease??

Did Discover report the increased balance? My guess is the increase was due to something else happening on your profile, and the decrease happened when Disco showed the balance increase. 

A lot of score changes are not tied to a specific event that you witness on your profile and FICO doesn't do a good job of tying reasons to score changes. Certain events are alertable, and when you pull the score, it is a score based upon all data currently on your reports. Not every score change alerts you - maybe you cross an age threshold and your score increases, and then something alertable happens and you see a new score that is actually due to some prior event.

 

If Disco did report that balance increase, then depending on your profile it could cause that 21-point loss. Good thing is, it's paid off now. If you don't want to wait a month for an update, Disco is one of the lenders who will grant an off-cycle report upon request - just call and they'll do it. You'll see the results the next day.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 2 of 5
SouthJamaica
Super Contributor

Re: 14 point increase followed by 21 point decrease??


@Savace88 wrote:

Hello all, my fico equifax score rose 14 points on a balance increase on my discover card 0 - $549 I then paid it off 2 days later and then I just recieved a 21 point decrease in score... 1st I'm wondering why I gained points on a increase of balance with a credit card. And 2nd why I just lost 21 points?. The fico alerts show no reason why. My overall utilization is 3% as I still have other cards with small balances. I'm totally confused can anybody help or relate to this? 


You don't know that your score rose "on a balance increase" or that the score dropped because of it being paid off. The FICO alerts do not give you the reason for a score increase or decrease.

 

MyFICO alerts don't provide reasons for a score change. There are certain events which trigger MyFICO alerts. If there happens to be any difference between your present score at that particular bureau and the previous score reported to you from that bureau, the score change is tacked on to the alert. There is not necessarily any connection at all between the score change and the alert substance.

MyFICO explains this in the "learn more" link contained in the alert:

"Why did my score go up when I got an alert for something negative (or why did my score go down when I got an alert for something positive)?
The short answer: Your FICO(TM) Score may change because of other events not monitored by an alert.
Whenever we send you a credit alert, we also send an updated FICO Score. To ensure you get the most current score, we calculate it based on your entire credit report at that point in time - not just the new information on the alert. This means your new score may reflect other changes that are outside of the things we watch for (see everything we monitor).
Sometimes you may see your score increase when you think it should've decreased, and vice-versa, but you'll always have your most up-to-date and accurate score."

 

In your case it is highly unlikely that a credit limit increase would have increased your score, or that paying off a balance would have decreased your score.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 721 TU 747 EX 715

Message 3 of 5
Savace88
Established Member

Re: 14 point increase followed by 21 point decrease??

Screenshot_20210503-192508_myFICO.jpg

Apr 28th a utilization increase on my discover card caused a 14 point increase. 3 days later it dropped 21 points. That is what I'm confused about and honestly I don't know if the score decrease is from paying it off or not which I dought. Other than that nothing new has been added to my CR. I've been gardening for over 6 months now.

Message 4 of 5
SouthJamaica
Super Contributor

Re: 14 point increase followed by 21 point decrease??


@Savace88 wrote:

Screenshot_20210503-192508_myFICO.jpg

Apr 28th a utilization increase on my discover card caused a 14 point increase.

 

You do NOT know that.  And it is highly unlikely that it did. And you do not know the date on which your score increased, or the date on which your increased utilization was reported. You do not know what changes went into the score increase.

 

3 days later it dropped 21 points.

 

You don't know what change occurred in the report data during the April 28th to May 1st period. That is what I'm confused about

 

You're confused because you're trying to draw cause-and-effect conclusions without the data needed to reach any conclusions

 

and honestly I don't know if the score decrease is from paying it off or not which I dought.

 

You simply do not know what factor(s) caused the decrease.

 

Other than that nothing new has been added to my CR.

 

I can assure you there's some difference between your April 28th data and your May 1st data.

 

I've been gardening for over 6 months now.


 


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 721 TU 747 EX 715

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.