@Jenja wrote:Hi
My car lease term just ended. That day (total coincidence) my score on 2 bureaus jumped 30 pts which was totally weird as nothing else has changed at all. Then when the car loan reported as ended they both fell 40 pts. I expected the fall when the loan ended but what would cause such a huge jump first?! The only thing I can think is my age of oldest acct happened to reach one additional year ? For context my scores were 790ish then bumped to 830 then down to 780. Any ideas on what makes a score jump 40 pts overnight?!
My guess would be it was a score bump from account age... oldest account hit a threshold? Average age of accounts hit threshold age? Youngest account hit threshold? Or a combination of the three, is my best guess.
For scores to jump and fall that dramatically usually has to do with moving from one score card to another... but I'm not positive what triggers all of the changes in score cards.
@Jenja wrote:Hi
My car lease term just ended. That day (total coincidence) my score on 2 bureaus jumped 30 pts which was totally weird as nothing else has changed at all. Then when the car loan reported as ended they both fell 40 pts. I expected the fall when the loan ended but what would cause such a huge jump first?! The only thing I can think is my age of oldest acct happened to reach one additional year ? For context my scores were 790ish then bumped to 830 then down to 780. Any ideas on what makes a score jump 40 pts overnight?!
You haven't given us any clues as to what might have caused the 30 point increase before the 40 point fall, other than that the age of oldest account increased. That could move you to another scorecard, which could cause an increase, but I doubt it would be 30 points.
