65 point drop with no new info

2ball · ‎11-20-2023

My sons credit score dropped 65 points from 756 to 691 since last month. He had 3 credit cards listed. Two in his name that have $75 balance and a $150 balance. He also is listed on one of my cards that has a $1800 balance. All the cards get paid every month. My cards always have balance between $1500 and $3500 or so. I use them for everything and pay them off every month.

The only thing new on his credit report from the previous months is that they listed the house he is renting.

My card has a credit limit of 22K. I have had that card for at least 15 years.

His two credit cards Amex platinum claims to have no set limit and the gold is at 30K.

He had had the Amex cards for about a year and the other for 3 months.

He has no loans, no other credit cards, never missed a payment and has not hard inquiries.

Could the new address make his score go down? Especially if it does not match the address on hi band accounts?

Is him having my card hurting him? He has not used it in years.

Why did his score drop?

SouthJamaica · ‎11-20-2023

@2ball wrote:
My sons credit score dropped 65 points from 756 to 691 since last month. He had 3 credit cards listed. Two in his name that have $75 balance and a $150 balance. He also is listed on one of my cards that has a $1800 balance. All the cards get paid every month. My cards always have balance between $1500 and $3500 or so. I use them for everything and pay them off every month.
The only thing new on his credit report from the previous months is that they listed the house he is renting.
My card has a credit limit of 22K. I have had that card for at least 15 years.
His two credit cards Amex platinum claims to have no set limit and the gold is at 30K.
He had had the Amex cards for about a year and the other for 3 months.
He has no loans, no other credit cards, never missed a payment and has not hard inquiries.

Could the new address make his score go down? Especially if it does not match the address on hi band accounts?
Is him having my card hurting him? He has not used it in years.
Why did his score drop?

Sounds like a Vantage score, not a FICO score. Nothing you've mentioned would cause a FICO score to drop.

Unify FCU Platinum Visa Variable Rate 35k

TD Bank Business Solutions Visa (Bus) 25k

FNBO Evergreen Business Edition Visa (Bus) 20k

Liberty (formerly Evansville Teachers) FCU Platinum Prime Plus MC 15k

US Bank Triple Cash Rewards Visa (Bus) 12k

Geo-fenced credit union Platinum Visa 10500

Members 1st FCU Low Rate Platinum Visa 5k

PLOC: Langley FCU 40k; Penfed CU 15k; NFCU 15k; Teachers FCU 15k; Affinity FCU 10k. BLOC: NFCU 5k

Total revolving limits 569520 (505320 reporting) FICO 8: EQ 689 TU 684 EX 682

2ball · ‎11-21-2023

He was notified through the credit moniterting system the Amex gives him for free.

I will have to double check if he also got his score directly through one of the 3 credit companies.

RBD22 · ‎11-21-2023

To expand on @SouthJamaica's question, where did you get that score from, OP? If it's from Credit Karma, then you're referencing a Vantagescore, which basically isn't used by any lender. FICO scores are the only ones that you should ever worry about.

STARTING SCORE: FICO as of 08/03/2015:

CURRENT SCORES: FICO as of 07/09/2024:

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CK Vantagescores as of 07/09/2024:

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2ball · ‎11-21-2023

The score came from the credit monitoring product that Amex gives for free for having a Platinum account. it looks like its a scaled down version of CreditSecure.

from the web site

FICO® Score 8 2

CreditSecure will automatically generate your 3-Bureau FICO® Score 8 once per month. Your Experian FICO® Score 8 will be available up to an additional 3 times per month.

2ball · ‎11-21-2023

He is an authorized user on my Discover. Last month I had a $4000 bill on a 22K limit.

that is a 22% credit utilization on one card. Could that have made the fico score drop 65 points?

SouthJamaica · ‎11-21-2023

@2ball wrote:
He is an authorized user on my Discover. Last month I had a $4000 bill on a 22K limit.
that is a 22% credit utilization on one card. Could that have made the fico score drop 65 points?

No. That probably wouldn't have dropped it more than a few points.

Total revolving limits 569520 (505320 reporting) FICO 8: EQ 689 TU 684 EX 682

Thomas_Thumb · ‎11-21-2023

I thought AMEX had gone from EX Fico 8 to TU VS3 and last month decided to go back to EX Fico (8?). This, from other threads on MyFico. If so, a change in scoring model could certainly shift score +/- 50 points.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950

Zoostation1 · ‎11-22-2023

@Thomas_ThumbAs part of "My Credit Guide" Amex previously provided a TU report and a TU VS3.0 score that updated as changes to your reprot happened. They also provided a monthly EX8 score update that you could find separately. That's all changed now annd the "My Credit Guide" product gives you an EX8 score and EX report that updates as your report changes. Mine just updated today to show the new balance on my BCP (statement closed 2 days ago so seems reasonable)..

Rebuild Started Nov 2021
June 2022 FICO 8:

June 2022 FICO 9:

June 2025 FICO 8:

June 2025 FICO 9:

Junejer · ‎11-25-2023

@Thomas_Thumb wrote:
I thought AMEX had gone from EX Fico 8 to TU VS3 and last month decided to go back to EX Fico (8?). This, from other threads on MyFico. If so, a change in scoring model could certainly shift score +/- 50 points.

He would be able to see the history from his EX F8 on AmEx back to when the change was made in September. So, there shouldn't be any confusion between the different models.