@Anonymous wrote:I just do not get this. I signed up for this service so I could use actual facts in using credit and get REAL scores, not some junk site that gets you nowhere. I am so glad I did, because it allows me to make real changes to my habits, and get ACTUAL results that lenders see and use. That being said, I'm really perplexed. I had an alert today that said the balance on one of my accounts went DOWN by a measly $20 bucks, no big deal with Experian and TU, but my Equifax score DROPPED 25 POINTS!
How on earth can this be? A 25 point drop because I had a decrease of $20? Can anybody relate or does anyone have information that can help me understand?
Thanks in advance for anybody's help.
I'm thinking it might be that Equifax is having computer problems or something. A minor change in utilization the other day appears to have caused my EQ FICO 8 to drop 9 points, while leaving TU & EX untouched.
Welcome to myFICO.
Some things to look at. Was the $20 drop from $100 down to $80 or was it $20 down to zero. The scoring algorithms like to see some balance in a CC account. How many cards do you have? You also have to look at how thick your file is. I have a thin file and any change can see a big change in scores up or down.
One of the things I monitor are my credit factors along with my score. I try to see if there are any changes to the factors that would account for the score changes.
Along the lines of what Captool said, it is certainly possible something else, or even a combination of several things caused the score drop. The notification may only be showing the most recent change.
@RM21 wrote:
Along the lines of what Captool said, it is certainly possible something else, or even a combination of several things caused the score drop. The notification may only be showing the most recent change.
I think there's something wrong with Equifax these days.
I just lost 12 points in Equifax FICO 8 from a small utilization change, while TU & EX were unaffected.