EXP down 8 pts - WHY?!

[racer-x]

Answer this question then: does myfico provide us with alerts that are not indicative of a score change?

[Anonymous]

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@racer-x wrote:
Answer this question then: does myfico provide us with alerts that are not indicative of a score change?

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Some alerts show score changes, but some do not.  The problem you are having is that you assume incorrectly that the reason for the alert is the score change when it's not.  You get alerts for a very few predetermined factors that are available for us all to see.  We will never see every reason for a score change no matter how much we wish that that we would.  If you accept the fact that the alerts and scores shown are independent from each other then you won't get frustrated that a balance decrease also shows a score decrease. They aren't related even though on the surface it seems that they are because of the way FICO shows the alert.

[racer-x]

Firstly, i dont have have a problem nor am i frustrated. Thanks for being in my heart and mind.

Secondly, you just stated what i stated.
We may have a 30 pt drop but never know why unless we were the fico programmers.
But we may get an alert that is very minor and insignificant.

I would then suggest that myfico isnt providing the most valuable data to us that we are buying.

If i buy a 2lb hamburger, i want it to weigh 2lbs.

Foller me?

[racer-x]

Should we not get the real info in an alert that is most ctitical and important to us? I.e. A major score drop or increase?

I got alerts across the board for a 30pt increase but it didnt say why. "Your eq has increased by 30 pts." Gee thanks, but why?

[Anonymous]

Where is my "Beating a Dead Horse gif"?

I'm not in your heart or mind racer, but this is getting old.  And me thinks much of the whining stems from mismanaged expectations.  My score have dropped 15 points respective across all CRAs.  And I knew this mentally going into February.  I applied and was approved for four new cards since Jan 26th.  So at the end of February I get alert saying new accounts, decrease in accounts, new account balances,etc.  For me, this one more is a blip.  Over the next 2-4 months I expect my scores to be back at the 750s or greater.   Too many of these types of threads are actually whining about things not going their way.  

[racer-x]

When posters are trying to understand and find the reasons for score drops, i wouldnt call that whining. Lets call it inquisitiveness. Especially me. Im just rebutting the same song and dance answers.

Question: my score dropped 30 pts when the only thing that changed was i paid my overall util to 1% and on only one card. Why?

Answer: The reason is really simple math. If tom picks 700 apples and gives 30 apples to dic k and then dic k gives them to harry, then harry will have 670 apples. See how simple that is children. The same goes for myfico scoring and alerts. Besides, benjamin franklin and thomas efison really didnt intend for you to understand and know the arithematic behind it"

Im a nuts and bolts, yes or no, win or lose kinda guy,..i build highways , bridges and concrete structures...there is no in between gray area bs in my head.

[racer-x]

Blacklace- how does your example of your acquisition of 4 new accts and you being 'mentally' prepared for the oncoming point drop compare to somebody having a CO removed, a SP CLI, PIF'ing an account, and lowering utilization on one card and having only that card report a balance, thus resulting in an 8 point drop when 4 very good/positive changes took place?

Id say its very obvious to. 99% of myfico members that a score decrease would result after acquiring 4 new accts, aaoa decreasing, and additional inq 's.

How would you 'mentally' prepare yourself if you had a CO removed, you PIF'd an acct, you got a SP CLI, and you lowered your utilization on your single acct that was reporting a balance?

Would you personally black, been prepared for an 8 pt score drop or would you have expected a nice bump in score?

.....exactly as i thought.

[Anonymous]

Another 7 pt drop to my EX, and a 13 pt drop to EQ. Something is definitely VERY wrong. I recently GW'd a 30 day late on my student loan from Feb 2014. I'm thinking they must have reported it as a dispute, and then verified the validity of that same 30 day late, just updated on my report. UGH! I'm starting to wish I left it alone.

Also, I ordered a new TU report, and a CO that Comenity told me they were deleting (also a letter sent), is now reporting 2x. I attribute the score drops to this, and the updated 30 day late on my AES student loan. This is just such a setback. But, I remain positive. I just received another CLI of $600 on my Fingerhut account (currently @ a zero balance). So this CLI along with my $1500 CLI on my Cap1 card, and all CC's reporting zero except one CC @ 50% (soon to be zero as of this coming Friday). 

My intention for this post wasn't to receive reassurance in regards to what I am doing. Just venting is all. My guess here is that all of my progress is just slow moving, and since I am still relatively new to all of this, I am a bit impatient. 

My goal....my hope, if you will, is to continue to update this thread with updates (good news hopefully), to reflect that maybe sometimes it just takes more than a month to get things going in an upward motion again. I also have a newer account reporting since November 2014 that I could have taken a ding for over the past couple months, but I have high hopes this will actually help my scores in the long run. 

Question: How long does a new account negatively affect your scores before starting to be an asset to your credit file?

PS: I appreciate everyone's input - good - bad, or indifferent. I take it all in, and am learning as much as I possibly can.

Thank you all for your comments.

[NRB525]

OP, you should go back and re-read your first post. There was no mention of any charge offs or other problems in your file.

Until those baddies are removed or fall off, you are not going to get consistent results out of MyFICO alerts and FICO scoring because those negatives are smothering everything else.

Just keep working on getting the negatives fixed, and eventually, with no further lates or problems with payments, your scores should trend upward, slowly slowly.You have already seen some increase from the mid-500's to where you are now.

Credit buildling is a long journey. Good luck!

[Anonymous]

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@NRB525 wrote:

OP, you should go back and re-read your first post. There was no mention of any charge offs or other problems in your file.

Until those baddies are removed or fall off, you are not going to get consistent results out of MyFICO alerts and FICO scoring because those negatives are smothering everything else.

Just keep working on getting the negatives fixed, and eventually, with no further lates or problems with payments, your scores should trend upward, slowly slowly.You have already seen some increase from the mid-500's to where you are now.

Credit buildling is a long journey. Good luck!

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Wow! Well if my credit was sqeaky clean, I wouldn't be in the rebuilding forum, would I? The CO's are from 2011, and while I know I need to work on getting them removed (1 to be removed, and 1 removed already), I sincerely thought working on my UTIL would help as well. So I won't see consistent results. Good to know.