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Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% "

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Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% "

It was a crazy alert, quite shocking, but "Math." Really it was a whole lot of nothing. No score change. No real impact on my overall UTL. 

 

Previous balance on the card, $1.  New Balance $187. Card has a $10,000 limit. 

 

 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & Freedom 6.6k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Marcus Loan. 30k second marcus load 15k.
Message 1 of 7
6 REPLIES 6
Super Contributor

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &qu

The alert wasn't quite right.  Your balance increased 18600%, not 18700%.

 

People complain about this kind of alert all the time here.  A more user-friendly alert would probably be a raw dollar value.  I.e. in your case "Your balance increased $186."

Message 2 of 7
Super Contributor

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &am

The important thing here is that the alert has absolutely zero impact on your score. 

 

I'd really like it if MF or any other CMS would find a way to incorporate this into their product, because it's a daily thread occurance on this forum where people are wrongly chasing incorrect reasons for their score changes due to alerts.  I know this isn't the case here with the OP, but something worth mentioning.  Had the OP or anyone else received such an alert that their balance increased by a 5-figure percentage and for some other reason at the same time their score dropped 10-20 points, all we would hear about is that a balance change from 1%-2% (in this example) caused a significant score drop.

Message 3 of 7
Community Leader
Senior Contributor

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &am

I just scanned through my alerts. They're all for dollar amounts. There's nothing indicating a balance change in terms of percentage.

 

As everyone who's posted to this thread understands, an alert like the OP mentions would have nothing to do with scoring. My guess is that its purpose is fraud or identity protection.

Message 4 of 7
Moderator Emeritus

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &am


@HeavenOhio wrote:

I just scanned through my alerts. They're all for dollar amounts. There's nothing indicating a balance change in terms of percentage.

 

As everyone who's posted to this thread understands, an alert like the OP mentions would have nothing to do with scoring. My guess is that its purpose is fraud or identity protection.


TU is dollar amounts.

 

I forget which of the other two sometimes do percentages, I've had both in the myFICO product over the years.




        
Message 5 of 7
Established Contributor

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &am


@Revelate wrote:

@HeavenOhio wrote:

I just scanned through my alerts. They're all for dollar amounts. There's nothing indicating a balance change in terms of percentage.

 

As everyone who's posted to this thread understands, an alert like the OP mentions would have nothing to do with scoring. My guess is that its purpose is fraud or identity protection.


TU is dollar amounts.

 

I forget which of the other two sometimes do percentages, I've had both in the myFICO product over the years.


Equifax shows both the dollar amounts and the percentages (doubled alerts...) When going from $0 to any positive number, it's hard-coded to display 100%... but when starting from $1, the displayed percentages do get a little silly-looking.

 

EQ8:850 TU8:850 EX8:850
EQ9:850 TU9:850 EX9:850
EQ5:809 TU4:789 EX2:819 - 2019-09-06
Message 6 of 7
Senior Contributor

Re: Crazy myFICO credit alerts "The balance on one of your accounts has increased by 18700% &am

Just scrolled back a year on alerts. EQ is the only one that list both dollar amounts and % separately. The rest is just $ amounts. This was 1 account thats the AZEO card.

eq.PNG





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 7 of 7
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