Experian FICO 2 score dropped 12 points

[sjt]

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@Trudy wrote:

I agree with @BrutalBodyShots that the CLI would not cause a decrease, even with MTG scores.  Have you reviewed the Credit Summary page.  When my EX MTG score dropped I realized I had 1 more account reporting than what I expected because one of my CC reported earlier than usual and my other cards had not reported showing paid trade lines.  So I went from 5 reporting a balance for January's close to 6 reporting for a few days in February.  When my other cards reported and showed a total of only 4 reporting after all had updated for February's close, my MTG score went back up.  It actually gained a few points from where it was before the drop.

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Its the same for both months.

[sjt]

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@Anonymous wrote:
It's also worth noting that while 90% of the time CMS software reports match real credit reports, there are times where your real hard-copy report will have a variance to what you see online from a CMS and of course the hard-copy is what matters.

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Interesting.

Im going to get a hard copy of my report and review it.

[Anonymous]

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@sjt wrote:

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Im going to get a hard copy of my report and review it.

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I think that's a great idea.  As much as you believe that the data hasn't changed, remember that it must have in order for your score to change, as your score is only generated from the data and nothing more.

[Anonymous]

I feel you pain OP and then some. Today, I checked my Fico Score Two for the first time. My score was lower than my Score 8 by over 100 points. The reason according to Experian was because of my installment balance. The amount I owe is just under $14.00. That's Fourteen Dollars. The loan is my auto loan from August, 2014. I financed $13K and immediately began to make large payments to keep the interest down. I now pay a few dollars a month and will pay it off in August. Now all of the CRA do report the correct balance. Can anyone explain the point difference? 

If posted in the wrong place, please move. Thank you.

[sjt]

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@Anonymous wrote:

I feel you pain OP and then some. Today, I checked my Fico Score Two for the first time. My score was lower than my Score 8 by over 100 points. The reason according to Experian was because of my installment balance. The amount I owe is just under $14.00. That's Fourteen Dollars. The loan is my auto loan from August, 2014. I financed $13K and immediately began to make large payments to keep the interest down. I now pay a few dollars a month and will pay it off in August. Now all of the CRA do report the correct balance. Can anyone explain the point difference? 

If posted in the wrong place, please move. Thank you.

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Can you give us more details on your credit profile. List credit accounts balance and credit line, any installment loans, mortgage, baddies, date open for all accounts.

[SouthJamaica]

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@sjt wrote:

I noticed that my FICO 2 score dropped 12 points from 786 on Feb 28 to 774 on March 1st. 

The only change to my report was a $2K CLI on one of my cards. My total revolving debt remains at $111 (AZEO) and my total revolving credit lines went from $98,300 to $100,300. One auto loan that is currently at 65% of the loan amount. No chages to my FICO 8 scores.

Do you think it was the CLI that dropped my FICO 2 score?

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Absolutely not.

[Anonymous]

One installment loan which is the car loan. Nine credit cards and ten retail cards. Total CL is over $170K. Utilization is under 1%. Scores are two in the high 700's. One is in the lower 800's. Newest card from 11/2018. AAoA is 4.9 years. Oldest reporting is 24 years, Have the usuals: Chase, AmEx, Discover, Citi...Two HP on each CR. One baddie from 10/2013 reporting on TU only. Been rebuilding for five years. No reporting mortgage. House is PIF. Never a student loan. Paid as I went through an MBA.

[sjt]

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@Anonymous wrote:

One installment loan which is the car loan. Nine credit cards and ten retail cards. Total CL is over $170K. Utilization is under 1%. Scores are two in the high 700's. One is in the lower 800's. Newest card from 11/2018. AAoA is 4.9 years. Oldest reporting is 24 years, Have the usuals: Chase, AmEx, Discover, Citi...Two HP on each CR. One baddie from 10/2013 reporting on TU only. Been rebuilding for five years. No reporting mortgage. House is PIF. Never a student loan. Paid as I went through an MBA.

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How many accounts have balances? Having multiple accounts with balances can decrease the mortgage scores. Although a 100 point variance is alot.

[Anonymous]

I don't believe that an auto loan with a $14 remaining balance would adversely impact a mortgage score relative to a Score 8 to the tune of 100 points.  What are all of your negative reason statements in order to go along with your lower mortgage score?

[Anonymous]

Right now two CrC have a balance. One under $10 and the other under $100. I PIF every month. I normally mix up my cards on a monthly basis. The retail cards aren't used much. Just enough to keep them open and to take advantage of specials and discounts. I did the AZEO a few weeks ago and picked up one point on FS 8. That was worth the effort. NOT!