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Experian FICO not updating......

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MP15_556
New Contributor

Experian FICO not updating......

I have a recently discharged Ch. 13 BK and have begun my rebuilding. I have been waiting for 2 months for my Cap One card to hit my reports.

Well, I checked my Experian.com monitoring and noticed the account was added, with a $0 balance (never received an alert) and my utilization went from 25% to 8% and my FICO score did not change.
Also, I got an alert for an inquiry for my Ollo Platinum about a week before and my score was unaffected.

What is going on? $25 a month for useless information?
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1 REPLY 1
Anonymous
Not applicable

Re: Experian FICO not updating......

If you added a new account, depending on your before/after age of accounts factors it's possible that your score could have dropped 5-10 points easily and even as many as 20-25 points under certain circumstances.  That being said, if the score gain that you received from the utilization paydown (assuming you did actually receive one) was equal to the loss from the age of accounts factors being reduced, in theory you could end up with a net gain/loss of 0 points. 

 

Without knowing more about your before/after age of accounts factors and your individual card utilization along with aggregate utilization before/after, it's tough to say.

Message 2 of 2
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