EXP down 8 pts - WHY?!

[Anonymous]

I just paid off one of my credit cards. I have 3, and one is reporting a low balance. Why would my EX score go down 8 pts?!

I thought paying this off would increase my scores!!

Frustrated!

[App_Addict]

People will need MUCH more info. in order to try to help you understand why this would have happened.  SOOOO much goes into your FICO score and chances are good that paying off that credit card did not make your score go down, it just triggered the alert that shows your score lower. Is this your FICO score that went down?  If you pay all of your accounts down this can happen because FICO like to see at least one account reporting.  Sorry couldn't be more help but with the info. provided just no way to tell.

[Anonymous]

It must be something else then that triggered the decrease. It is an alert from myFICO. All I know is I had a CO recently removed, a CLI of 1500 on one of my Cap cards (not yet reporting), and paid all CC's off except one that is currently at 150/500.

Just a setback. Hopefully temporary...

[Anonymous]

I really wish myFICO would indicate all triggers to our scores. Is there a way to actually track when things are added, or removed on a daily basis...

[Anonymous]

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@Anonymous wrote:

I really wish myFICO would indicate all triggers to our scores. Is there a way to actually track when things are added, or removed on a daily basis...

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In answer to your question, no there isn't any way to track every change.

As to why they don't indicate all triggers; you would be bombarded with alerts because your score is constantly changing and if they provided alerts for every change it would reveal far more about their scoring algorithm than they would want others to know.  They are a for profit business and have competitors so like any business they are not going to reveal trade secrets.

Its ts really important not to focus on every change up and down. Just like you see a decrease for an alert that seems not to make sense, there are just as many that report increase for something that shouldnt/doesn't cause increases, such as inquiry.  It's far better to concern yourself with scores over a much longer time period and what's in your file.

[racer-x]

Soooo, what is being said is, we get alerts on things that don't trigger score changes, but get no alerts on things that trigger score changes?  Got it.  rollseyes

[Anonymous]

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@racer-x wrote:

Soooo, what is being said is, we get alerts on things that don't trigger score changes, but get no alerts on things that trigger score changes?  Got it.  rollseyes

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No one ever said that the alerts are about things that don't cause score changes.  No one forces you to use the service either..  You seem unwilling to accept the fact that FICO is not going to explain every detail of the formulas that cause score changes.  FICO, if you ready Barry's blog was concerned about this very thing; that providing consumers their scores would cause exactly this kind of confusion.

[racer-x]

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@Anonymous wrote:

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@racer-x wrote:

Soooo, what is being said is, we get alerts on things that don't trigger score changes, but get no alerts on things that trigger score changes?  Got it.  rollseyes

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No one ever said that the alerts are about things that don't cause score changes.  No one forces you to use the service either..  You seem unwilling to accept the fact that FICO is not going to explain every detail of the formulas that cause score changes.  FICO, if you ready Barry's blog was concerned about this very thing; that providing consumers their scores would cause exactly this kind of confusion..

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uh, nice edit.

I knew I should've quoted it.

SOMEBODY just said that 'chances are, the score drop was due to something else that changed in the OPs report and paying the balance down/off is what triggered the alert, but was not necessarily the cause of the score drop.'  In other words, changes that cause score changes aren't reported, but a change can trigger an alert that will then show the score change.  In other words, I stand by my statement.  I"ve read  that  'reasoning/explanation' of score drops many many times on here.

"Oh, oh, your score didn't drop 20 pts because you went from 40% util to 2 % util on one card, it was some hidden change that you're not allowed to see.;

Is obama running myfico too?  Transparency right?

I coulda swore somebody posted that prior to me making my comment.  It's early, probably just me.  My bad.

[Anonymous]

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@Anonymous wrote:

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@racer-x wrote:

Soooo, what is being said is, we get alerts on things that don't trigger score changes, but get no alerts on things that trigger score changes?  Got it.  rollseyes

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No one ever said that the alerts are about things that don't cause score changes.  No one forces you to use the service either..  You seem unwilling to accept the fact that FICO is not going to explain every detail of the formulas that cause score changes.  FICO, if you ready Barry's blog was concerned about this very thing; that providing consumers their scores would cause exactly this kind of confusion.

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+1

This.   It's time for this to end.  In recent days, I've come across too many posts saying the same thing; I paid off my credit cards and my score..."

And much of it is nothing more than window dressing; people looking to sooth their inner sense and seeking validation that they did what was right; manage their debts.     

The monitoring service works.  It will not always seem logical where it goes down when you thought it would go up or vice versa, but it neithertheless works.  

[Anonymous]

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@racer-x wrote:

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@Anonymous wrote:

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@racer-x wrote:

Soooo, what is being said is, we get alerts on things that don't trigger score changes, but get no alerts on things that trigger score changes?  Got it.  rollseyes

---

No one ever said that the alerts are about things that don't cause score changes.  No one forces you to use the service either..  You seem unwilling to accept the fact that FICO is not going to explain every detail of the formulas that cause score changes.  FICO, if you ready Barry's blog was concerned about this very thing; that providing consumers their scores would cause exactly this kind of confusion..

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uh, nice edit.

I knew I should've quoted it.

SOMEBODY just said that 'chances are, the score drop was due to something else that changed in the OPs report and paying the balance down/off is what triggered the alert, but was not necessarily the cause of the score drop.'  In other words, changes that cause score changes aren't reported, but a change can trigger an alert that will then show the score change.  In other words, I stand by my statement.  I"ve read  that  'reasoning/explanation' of score drops many many times on here.

"Oh, oh, your score didn't drop 20 pts because you went from 40% util to 2 % util on one card, it was some hidden change that you're not allowed to see.;

Is obama running myfico too?  Transparency right?

I coulda swore somebody posted that prior to me making my comment.  It's early, probably just me.  My bad.

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No clue what you are talking about.  I didn't edit anything.  We get it, you're not happy with the explanations.