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All Scores Up 100+, Experian FICO8 up 3?

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Anonymous
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All Scores Up 100+, Experian FICO8 up 3?

I recently paid off a large amount of debt. We were absolutely buried, learned our lesson and got it under control. My scores were low - mid 550s, steadily climbing with each payoff. The last big one - Discover at 100%+ utilization finally showed paid off which caused my scores on Vantage, Transunion FICO, Equifax, etc. etc. to rise by 100+. However, even with the payoff registering my Experian FICO8 on the dashboard is only registered a 3 point increase - any insight into why it went up so little would be very helpful, thank you in advance!

11 REPLIES 11
FireMedic1
Community Leader
Mega Contributor

Re: All Scores Up 100+, Experian FICO8 up 3?

Just like CCC's. The CRA's do internal updates also. Everything isnt always instant. Give it some time. It will pop.


Message 2 of 12
Anonymous
Not applicable

Re: All Scores Up 100+, Experian FICO8 up 3?

Your EX score is being shown based on the old data, not the new data post-payoff.

Message 3 of 12
Anonymous
Not applicable

Re: All Scores Up 100+, Experian FICO8 up 3?

Thank you! So even though the actual report shows the $0 Balance and improved account, the score wouldn't go up yet?

Message 4 of 12
BallBounces
Valued Contributor

Re: All Scores Up 100+, Experian FICO8 up 3?

@Mrs_A

What you describe does not make sense to me.  I do not believe it is a matter of "lag".

 

Are you looking at your July 1 Experian FICO08 score AND July 1 Experian report on the Experian site? 

 

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 5 of 12
Anonymous
Not applicable

Re: All Scores Up 100+, Experian FICO8 up 3?


@Anonymous wrote:

Thank you! So even though the actual report shows the $0 Balance and improved account, the score wouldn't go up yet?


It depends on the date of the report/score.  It's possible that the date of your report is (say) July 1, where the date of your score is (say) June 29.  Just because a report updates doesn't necessarily mean that the score updates at the same exact time.

Message 6 of 12
FireMedic1
Community Leader
Mega Contributor

Re: All Scores Up 100+, Experian FICO8 up 3?

+1 I just got an alert yesterday that TU went up 10 points. Reason listed on MyFICO? Nada. Showed nothing. Just the score change.


Message 7 of 12
Anonymous
Not applicable

Re: All Scores Up 100+, Experian FICO8 up 3?

This is what I'm seeing...if the alert registered on 6/29 and my score says updated 6/30 - shouldn't this have made a difference?

Screen Shot 2019-07-02 at 10.36.50 PM.png

Message 8 of 12
FireMedic1
Community Leader
Mega Contributor

Re: All Scores Up 100+, Experian FICO8 up 3?

Some things will kick the score quicker than others. Some lag at times. Again give it time. One thing thats a constant is a HP. They never miss that trigger.


Message 9 of 12
Anonymous
Not applicable

Re: All Scores Up 100+, Experian FICO8 up 3?

Maybe I'm interpreting the graphic above incorrectly, but to me it appears that the score was generated on 6/29 and the balance decrease was reported on 6/30, meaning that the score displayed isn't taking into consideration the balance paydown change yet.

Message 10 of 12
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