@cambia46 wrote:Can anyone explain why my score would have increased, versus decrease?
This morning I got an alert saying that my credit scores increased by 40 point since yesterday (Now EX 764, EQ 683, Trans 683). I have scrutinized all of the reports and the absolute only change is that my student loans were switched from being deferred to a "payment due" status. This is accurate, as I am scheduled to start paying them back in April. The loans total $44K and some change. While the Direct Lender shows that I have only 6 individual loans, they are reported to the CRA's with split balances into 11 separate loans. The only other debt reporting is,
- Two credit cards, both in good standing, 1 with a zero balance and 1 with less than 20% usage
- 3 paid/closed loans in good standing
- 1 paid collection and 2 unpaid. (working with an attorney to have all 3 removed)
- Two charge offs (auto loan and installment loan), one of which is supposed to be removed this month, after winning a case against the original creditor and the other one we're working on.Thanks for any insight provided.
Maybe that charge-off was removed?
If not, then, when was the last time you received updated scores (prior to today)?
Your student loans coming out of deferment wouldn't affect your scores -- but it is an alertable event which would result in a pull of updated scores. So the ~40 points would have been gained some time between the last score update and this one. If your last update was over a week ago, prior to 3/1, then it's possible the increase is due to account aging as FICO ages everything on the first of the month. Look at your AAoA, AoOA, AoYA, and AoYRA (age of youngest revolving account) -- did they pass any age milestones?
@cambia46 wrote:Can anyone explain why my score would have increased, versus decrease?
This morning I got an alert saying that my credit scores increased by 40 point since yesterday (Now EX 764, EQ 683, Trans 683). I have scrutinized all of the reports and the absolute only change is that my student loans were switched from being deferred to a "payment due" status.
Just to clarify:
Are you using myFICO for monitoring? If so, your reports don't update with alerts - only scores. So if your reviewing reports on myFICO looking for changes, you won't find any because those reports are oudated; changes won't show up till your next 3B report upate as per your subscription.
And, did all 3 scores increase or just one bureau?
