Hey guys,
Over the past few months, my score has been steady increasing. September 21: 737; October 28: 749; November 8: 768 but now on December 27: 767. One point, I'm not concerned, except for the following:
I recently received a Score Watch alert, and decided to check it out.
Under alerts, I see "this decrease in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert." I spent a little more than normal on Christmas presents, and paid back pieces throughout the month, so by the 4th or 5th day of the billing cycle, a payment was made, so its not possible I missed the payment. The ending balance for the month is about $500 more than the starting balance, but that's only because the last of like ten payments was made after the end of the billing cycle. That easily explains the score change, but now that balance is once again down, so I would expect an increase for next time.
However, Score Watch also says:
"This score decrease may be caused by this new reason:
- You have missed payments or derogatory indicators on your credit accounts."
That disturbs me as I always pay on time. So, I order an Equifax credit report (as Equifax was mentioned in the alert), as I want to know what this is about. Last report is from when I started as a subscriber to Score Watch three months ago, and the only "Negative Indicator" was a 30 day late payment to CitiBank 3 years and a month ago.
This report shows no negative indicators other than that same late payment. There is nothing new. All accounts show "Pays as agreed" and nothing under Collections. However, I see in Understanding Your Score: "You have missed payments or derogatory indicators on your credit accounts." This statement did not exist with that last Equifax report I ordered with myFico. However, as I have already stated, no accounts show delinquency, and I have checked and all accounts have been paid by checking my online billing associated with my accounts. Again, no collections information is apparent. I have one medical bill outstanding, but that payment isn't due until the end of the first week of January, and this doesn't even show in Collections.
Does anyone have any suggestions where to go next? Its apparent from "Understanding Your Score" my Equifax report does show something negative, but by examining the report, there's nothing there. Is myFico's Equifax report complete, or a "dumbed down" version? I want to know what this derogatory remark is as I have been working hard to bring my score up. I don't have money issues, its just as I am 31 years old, I don't have a lengthy credit history (only a few years), and I've learned it takes hard work under those circumstances for a very good score and I want to keep it that way.
Oh, and sorry for the long rambling post 
Thank you,
Anthony
Hi, and welcome to the forums!
Don't worry about the "you might have a late." I still get those, nearly four years after my most recent (and last-ever) late.
Scorewatch is notorious for scaring the whee out of people with these things. You do have a late, so there is this negative factor, but it didn't cause your one-point drop.
@Anonymous wrote:
...That disturbs me as I always pay on time. So, I order an Equifax credit report (as Equifax was mentioned in the alert), as I want to know what this is about. Last report is from when I started as a subscriber to Score Watch three months ago, and the only "Negative Indicator" was a 30 day late payment to CitiBank 3 years and a month ago.
This report shows no negative indicators other than that same late payment. There is nothing new. All accounts show "Pays as agreed" and nothing under Collections. However, I see in Understanding Your Score: "You have missed payments or derogatory indicators on your credit accounts." This statement did not exist with that last Equifax report I ordered with myFico. However, as I have already stated, no accounts show delinquency, and I have checked and all accounts have been paid by checking my online billing associated with my accounts. Again, no collections information is apparent. I have one medical bill outstanding, but that payment isn't due until the end of the first week of January, and this doesn't even show in Collections.
Does anyone have any suggestions where to go next? Its apparent from "Understanding Your Score" my Equifax report does show something negative, but by examining the report, there's nothing there. Is myFico's Equifax report complete, or a "dumbed down" version? I want to know what this derogatory remark is as I have been working hard to bring my score up. I don't have money issues, its just as I am 31 years old, I don't have a lengthy credit history (only a few years), and I've learned it takes hard work under those circumstances for a very good score and I want to keep it that way...
Thank you,
Anthony
As for the negative comments, you do have a late payment as you indicated, to Citi 37 months ago. It should show up when you click the + sign by the Citi account. That would be the same negative factor that is referenced on Understanding Your Score. It doesn't mean that you have two lates; it just points out the late in two different places.
You probably still have a few more negatives floating around out there, but because your scores are so high, your myFICO report only displays one. The higher your score, the fewer negatives displayed by myFICO. This is mainly because as your score gets better, any additional negatives have an infinitesimal impact, so they're not displayed. (Also, myFICO CS gets worn out by irate members of the 800 club calling to complain that they actually have a negative. 
) Additional negatives might include such things as short installment history, low average age of accounts, too many accounts with balances, presence of a consumer finance account, and other kinda random stuff.
If you're curious to see what else is out there, try myfico.com/12 to see the (up to) four negatives that lenders would see when they pull your reports. But if you do this, be sure to clear the cookies out from your browser afterwards, or you will always be taken back to that site when pulling future scores. Don't panic, because you won't get the warm fuzzies about the positive elements on your reports, and the sim, and (often) such things as your AAoA. It's just a straightforward representation of what a lender sees when pulling your report.
eta: Oh, I meant to add: I don't know why that comment (the second one that I highlighted in red) didn't appear with your previous report. Was there something else there instead? But anyway, that section is just an educational area. The important place to look on myFICO reports is on screen two, on the left, where the negative factors are listed. These are, in order and verbatim, the factors that are holding down your score. Everything else in there is just cheerful warm fuzzies and FYI stuff. hth