62 point drop, did I finally find the answer.

[Anonymous]

Not following you. I lost 22 points from Equifax and then 20 points from Experian and then 20 points from TU all within 2 days. That totals 62 points. Am I looking at this wrong?

[newhis]

Yes, 3 bureaus, 3 scores, all lost 20-22 points is not the same as a 62 point drop.

Lenders usually pull 1 bureau, they will not see a 62 point drop, they will see a score that is 20-22 points less than the previous month.

A 62 point drop in 1 score is a lot. 20-22 is not as big.

[Anonymous]

Following you now. (third cup of coffee) Combined scores were 708 and after hit combined were 687. Wasn't looking at it that way.  So 21 point drop in total across all 3. 

So, if I go back to my original theory that reported 2 cards by accident that month caused that drop as that is what it said on the alert. Balance increase, I since only reported one card, that would be 3 months of reporting and never recovered. Does that make any sense?  Or is it that combined with the removal of myself on my husbands card?

[Revelate]

---

@Anonymous wrote:

Following you now. (third cup of coffee) Combined scores were 708 and after hit combined were 687. Wasn't looking at it that way.  So 21 point drop in total across all 3. 

So, if I go back to my original theory that reported 2 cards by accident that month caused that drop as that is what it said on the alert. Balance increase, I since only reported one card, that would be 3 months of reporting and never recovered. Does that make any sense?  Or is it that combined with the removal of myself on my husbands card?

---

20 points for the removal of an AU on a thin file is a lot more plausible.  Waiting to see what happens with it's being added back on is reasonable as SJ suggested way back up above in the thread.  

Nomenclature difference, as people have rightfully pointed out when we talk about point drops it's confined to a single bureau; a 62 point drop is huge and that's why our (my) conjectures were getting a bit wild franky.

While it's still a difference between the earlier models and the new models and as such has interest, it's not an OMG THE SKY IS FALLING event from a credit perspective .

[Anonymous]

Feeling Oh So Much Better This Morning !!!! You guys have been terrific. I don't know why I didn't see that calculation before. I just saw 62 points and that was it.  So now its a wait and see game on adding myself back as a AU on his card, which still boggles me as its not like he had the card years before or anything, we basically got them at the same time, right after we starting rebuilding in Oct of 14. Anyway, we shall see.  

Again, I so appreciate all of your help in this. I can handle 20 points, much better than 62.   Its the mortgage scores that really matter right now and they were not affected by any of this.  You have opened by eyes to several things during this process and I am very grateful.

[newhis]

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@Anonymous wrote:

Versions used for Credit Card Decisioning

711Good

 

FICO® Bankcard Score 8 based onEquifax data as of 11/7/2016

SCORE FACTORS

• You have a serious delinquency or derogatory indicator, public record and/or collection on your credit report.
• You have one or more accounts showing missed payments or derogatory indicators.
• You have a short credit history.
• You have too many credit accounts with balances. 

---

Can you comment on that? You say that only have 1 card reporting a balance. Can you put the balance and limit on all your cards and auto loans. For auto loans what you owe and the original amount?

I don't know how AU report. Could it be that the AU is reporting a balance even if it is no longer active?

[Anonymous]

I have no idea . I pulled up my current 3b report last night. Do you want to see that. In the meantime, I will get all the balances for you.  I am not showing that that AU card is still in report. Never got any alerts either since took off that balances were being reported on that. No making sense. Do you want the current balances on all of my cards and auto loans as of today? Just one Capital One of mine reported this month and reported a few days ago, was for 116.00. All others coming up will be reporting 0. My UTL comes up 1%.

[Anonymous]

Newhis, Here is my 12/20/16 Fico 8 Bankcard scores. Now, it doesn't say too many credit accounts with balances on Experian, now says it on Equifax. I am not getting this. Sending all balances over in a few.

714Good

 

FICO® Bankcard Score 8 based onEquifax data as of 12/20/2016

SCORE FACTORS

• You have a serious delinquency or derogatory indicator, public record and/or collection on your credit report.
• You have one or more accounts showing missed payments or derogatory indicators.
• You have a short credit history.
• You have too many credit accounts with balances.

711Good

 

FICO® Bankcard Score 8 based onTransUnion data as of 12/20/2016

SCORE FACTORS

• You have a serious delinquency or derogatory indicator, public record and/or collection on your credit report.
• You have not established a long revolving credit history.
• The remaining balance on your mortgage or non-mortgage installment loans is too high.
• You have few accounts that are in good standing.

695Good

 

FICO® Bankcard Score 8 based onExperian data as of 12/20/2016

SCORE FACTORS

• You have a serious delinquency or derogatory indicator, public record and/or collection on your credit report.
• The balances on your non-mortgage credit accounts are too high.
• You have a short credit history.
• You have missed payments or derogatory indicators on your credit accounts

[newhis]

It is better to know what was reported on the day you have a score. As I learned, things change in a few days, there is no point to use a FICO score for 1 day and balance report from other day.

Things we know:

- your score is down 21 points (average) FICO 8 since September and we don't know why

- your mortgage score didn't change or just a little

If you want to find the issue, you need to compare your reports with score and see what was reported when the score was generated. No need to know what is reported today if you don't have the score for today. I hope it is clear. Sometimes my English is not as good as I want it to be. Good luck.

[Anonymous]

Und erstood. Well I know on the day that I lost the points, a Barclays card that had a 0 balance reported 384.00. This was the alert I rec'd. That same month a cap 1 card of mine reported as well, small balance. So this is what I thought caused it.

I am still very confused as to why reason codes are saying too may credit accounts with balances even today. 

699Good

FICO® Score 8 based onEquifax data as of 12/20/2016

683Good

FICO® Score 8 based onTransUnion data as of 12/20/2016

685Good

FICO® Score 8 based onExperian data as of 12/20/2016

FICO Score Ingredients

PAYMENT HISTORY

 Good

 Good

 Good

DEBT AMOUNT

 Exceptional

 Very Good

 Exceptional

LENGTH OF CREDIT HISTORY

 Very Good

 Very Good

 Very Good

NEW CREDIT

 Good

 Very Good

 Very Good

Positive Factors

You've limited the use of your available revolving credit.

You have an established credit history.

You've recently been paying your bills on time.

You have many accounts that are in good standing.

Negative Factors

You have a serious delinquency or derogatory indicator, public record and/or collection on your credit report.

You have not established a long revolving credit history.

The remaining balance on your mortgage or non-mortgage installment loans is too high.

You have one or more accounts showing missed payments or derogatory indicators.

You have a short credit history.

Your Risk to the Lender

Each lender determines the information they access to evaluate a consumer’s credit risk. Many lenders use FICO® Scores in making loan decisions due to the power of the FICO Score to predict which borrowers are risky. How the consumer has managed their credit in the past is predictive of future credit risk. The reason consumers with good FICO Scores get better interest rates is because they pose less risk of missing payments or defaulting on a loan.

   

Most lenders would consider consumers with a score between 650 to 699 to be medium risk because approximately 13% of consumers in this score interval get into serious credit trouble.

RISK RATE  

13%

 

13%

 

13%

The risk rate shown here is the percentage of borrower's who reach 90 days past due or worse (bankruptcy, account charge-off) on any credit account over a two-year period.

Actual rates vary by lender.

Generally speaking, each lender determines which credit bureau they want to access on an applicant and whether they want to access more than one. However, most lenders will access all three FICO® Scores and credit reports on applicants for mortgage-related lending decisions. The lender may require that all three FICO scores are above a given score cutoff or they may look at the three sco