Equifax Fico 8 score drop

[joeyv1985]

All,

I'm trying to make sense of this. My Citi DC, reported that my balance went from $6(yes $6) to zero dollars. However, my Equifax score dropped 4 points. Why is that? I have open 4 credit cards and 2 show no balance. The overall utilization across all cards is about 10%. Please advise. Thanks. 

[Anonymous]

Quite simply that wasn’t the cause of the drop.

[joeyv1985]

I thought the same thing, but I can't find anything. I requested a CLI from CITI on both my cards, but those should have been soft pulls. I was approved on one of them.  The was the only thing I could find on myFico was a Equifax notice saying that the balance of my accounts decreased by $6.

[Anonymous]

Keep in mind the substance of the alert has nothing to do with any point changes appended to it. What happens is you have certain things that trigger an alert and if there is also a score change that is tacked on with it.

You would need to compare reports before and after line by line. Did you approve a hard pull?

[joeyv1985]

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@Anonymous wrote:
Keep in mind the substance of the alert has nothing to do with any point changes appended to it. What happens is you have certain things that trigger an alert and if there is also a score change that is tacked on with it.

You would need to compare reports before and after line by line. Did you approve a hard pull?

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Hello Birdman, as far as I know, no HP's were approved. If a HP was done, I should've been alerted right away and I haven't been.  I'll have to dig deeper into what triggered this point drop. Maybe in the next couple of days, something will pop up. 

[joeyv1985]

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@joeyv1985 wrote:

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@Anonymous wrote:
Keep in mind the substance of the alert has nothing to do with any point changes appended to it. What happens is you have certain things that trigger an alert and if there is also a score change that is tacked on with it.

You would need to compare reports before and after line by line. Did you approve a hard pull?

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Hello Birdman, as far as I know, no HP's were approved. If a HP was done, I should've been alerted right away and I haven't been.  I'll have to dig deeper into what triggered this point drop. Maybe in the next couple of days, something will pop up. 

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Birdman, Citi did a hard pull for my Citi AAD. Looks like they did it because it was before the 6 month time period/anniversary. I swear the language on the app said otherwise. A letter in the account said too many inquiries or something to that effect. 

[Anonymous]

Sorry to hear that but I’m glad you discovered the source of the mystery.

[Anonymous]

Have you resolved why you were not alerted right away?

[joeyv1985]

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@Anonymous wrote:
Sorry to hear that but I’m glad you discovered the source of the mystery.

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Thanks. I did request a CLI for my Citi DC and got it bumped up from $11K to $12.5K. So all was not lost. I just have to wait 6 months, and request another CLI and I'll be fine. Besides, per my calculations, I should have 2 or 3 inquires falling off my record within the next 12 months, and 6 total by the end of 2021. 

[joeyv1985]

I haven't. Per CS rep, they did pull a HP, however I wasn't notified right away. Credit Karma, myFico, nothing. No immediate notifications. I had to wait for today to see that it did happen. Unless HP's report a little differently than actually applying for credit.