FICO just doesn't make sense. When I was alerted to possibly a fraudulent attempt for AMEX, I decided to check all my accounts and credit reports (Credit Karma and the Experian app). Everything checked out to normal, but I noticed that my EX Fico8 dropped by 15 points, to 699.
I check my EX report for new accounts, high utilization, etc....nothing. The only change was a decrease in balance of $119, which was me paying off my Disco account to $0. I don't do AZEO, and I usually have accounts report a balanced one month and let it report $0 the upcoming month. My total utilization stayed at 2%. I don't get it, and I know my score will rebound, but EX is always my lowest score and slowest score to update, while most of the lenders use EX over TU and EQ IMO.
@citymunky wrote:FICO just doesn't make sense. When I was alerted to possibly a fraudulent attempt for AMEX, I decided to check all my accounts and credit reports (Credit Karma and the Experian app). Everything checked out to normal, but I noticed that my EX Fico8 dropped by 15 points, to 699.
I check my EX report for new accounts, high utilization, etc....nothing. The only change was a decrease in balance of $119, which was me paying off my Disco account to $0. I don't do AZEO, and I usually have accounts report a balanced one month and let it report $0 the upcoming month. My total utilization stayed at 2%. I don't get it, and I know my score will rebound, but EX is always my lowest score and slowest score to update, while most of the lenders use EX over TU and EQ IMO.
You don't know what occurred, or on what date. All you know is that one of your balances decreased from $119 at one point in time to zero at another point in time. Since you had balances on some of your other cards, at both points in time, paying that card to zero did not cause a point drop. So it was something else.
That is all the info I got from the EX app. I really dont get it, as over that past few months I have paid down my Disco card to $0 dollars as I manage which account reports balances and which ones don't. I'm will waiting on MyFico reports to see the change and hopefully add more details.
I recenently removed myself from an AU card and it reported as zero balance rather than just not reporting at all since I am no longer tied to that account, and my EX dropped 26 points. @SouthJamaica does make a good point, but its still confusing, as its been weeks now and no change/updates so it leads me to believe it was related to that.
Are scores more likely to respond greater negatively if you have a dirty profile already vs someone who doesn't ?
@Blender wrote:I recenently removed myself from an AU card and it reported as zero balance rather than just not reporting at all since I am no longer tied to that account, and my EX dropped 26 points. @SouthJamaica does make a good point, but its still confusing, as its been weeks now and no change/updates so it leads me to believe it was related to that.
Are scores more likely to respond greater negatively if you have a dirty profile already vs someone who doesn't ?
No. In fact I'd say it's the opposite. IMHO utilization changes are less important for files with negatives already baked in.
@citymunky wrote:That is all the info I got from the EX app. I really dont get it, as over that past few months I have paid down my Disco card to $0 dollars as I manage which account reports balances and which ones don't. I'm will waiting on MyFico reports to see the change and hopefully add more details.
you're not all 0 reporting revolving balances or all 0 on AU reported revolving balances?
@GZG, that was my guess--an accidental all zero revolving balance.
Starting Score: 469Current Score: 819
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
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@GZG wrote:
@citymunky wrote:That is all the info I got from the EX app. I really dont get it, as over that past few months I have paid down my Disco card to $0 dollars as I manage which account reports balances and which ones don't. I'm will waiting on MyFico reports to see the change and hopefully add more details.
you're not all 0 reporting revolving balances or all 0 on AU reported revolving balances?
Personnally, no I always have a balance reporting somewhere, based on EX currently I'm reporting 2% credit usage across 3 credit cards, 1 charge card and 1 LOC.
AU, yes I have one account (also Discover) that is reporting $0.
Also just loss 4 points from TU by decreasing the total of all my balances by $85.
For the past few months my scores have only moved either up a point, down a point and/or stayed the same. I don't like these point downs as I'm feel that I'm trending in the wrong direction and I know I will not gain the point back as fast as they dropped.
@citymunky wrote:
@GZG wrote:
@citymunky wrote:That is all the info I got from the EX app. I really dont get it, as over that past few months I have paid down my Disco card to $0 dollars as I manage which account reports balances and which ones don't. I'm will waiting on MyFico reports to see the change and hopefully add more details.
you're not all 0 reporting revolving balances or all 0 on AU reported revolving balances?
Personnally, no I always have a balance reporting somewhere, based on EX currently I'm reporting 2% credit usage across 3 credit cards, 1 charge card and 1 LOC.
AU, yes I have one account (also Discover) that is reporting $0.
Also just loss 4 points from TU by decreasing the total of all my balances by $85.
For the past few months my scores have only moved either up a point, down a point and/or stayed the same. I don't like these point downs as I'm feel that I'm trending in the wrong direction and I know I will not gain the point back as fast as they dropped.
You might be getting the separate all zero penalty for AU cards. Yes, believe it or not, there is such a penalty. I would advise you to ditch the AU card and see if you get the 15 points back.
My average age of accounts would drastically drop if I remove that AU account. I don't under how their is a penalty for an AU reported zero.
In other news I didn't spend that much on my AMEX this month and I gained a point. Go figure 🤔.
