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Experian Fico 2 drops with no change on report

Regular Contributor

Experian Fico 2 drops with no change on report

My Experian Fico 2 score was 772 on  6/2/20 and  dropped  to 767  on 6/3/20. Fico 8 did not change. Reason codes for Fico 2 did not change.  There was no change on the credit report,  in fact even the "status update" dates of all of the accounts are the same.  So the score drop must be caused by an age related  factor.   Any guesses what age related  factor could cause a drop in the Fico 2 score?

 

Pure  speculation:  I paid off my only installment loan (an home equity loan) on 3/2/20.  Could it be that a closed installment loan still has some positive effect on Fico 2 which wears  off over time?

 

I'm asking for purely theoretical reason. I 'm not applying for any credit in the foreseeable future and losing those five points does not bother me at all.

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Valued Contributor

Re: Experian Fico 2 drops with no change on report


@Llewelyn wrote:

My Experian Fico 2 score was 772 on  6/2/20 and  dropped  to 767  on 6/3/20. Fico 8 did not change. Reason codes for Fico 2 did not change.  There was no change on the credit report,  in fact even the "status update" dates of all of the accounts are the same.  So the score drop must be caused by an age related  factor.   Any guesses what age related  factor could cause a drop in the Fico 2 score?

Are you expecting any changes this month to number of accounts reporting a balance?

 

I've seen -6pts on EX 2 with number of accounts changing from 1 to 2, with only 2 accounts open.  (Aggregate not a factor at 5% to 6% change.)

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

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Regular Contributor

Re: Experian Fico 2 drops with no change on report


@CassieCard wrote:

Are you expecting any changes this month to number of accounts reporting a balance?

 

Yes, but what does this have to do with the score change on 6/3?

Message 3 of 32
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Valued Contributor

Re: Experian Fico 2 drops with no change on report


@Llewelyn wrote:

@CassieCard wrote:

Are you expecting any changes this month to number of accounts reporting a balance?

 

Yes, but what does this have to do with the score change on 6/3?


I know it sounds odd, but I have seen it once before. The front-end shows one thing, and the back-end has updated data. There used to be a section at EX where this could be observed.

 

I commented at the time that this could have been the source of a lot of misinformation in the past. I have no idea if that can still happen, but it sure looks like it this time.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

48 forum members have shared this new credit score. Share yours today!

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Super Contributor

Re: Experian Fico 2 drops with no change on report


@Llewelyn wrote:

My Experian Fico 2 score was 772 on  6/2/20 and  dropped  to 767  on 6/3/20. Fico 8 did not change. Reason codes for Fico 2 did not change.  There was no change on the credit report,  in fact even the "status update" dates of all of the accounts are the same.  So the score drop must be caused by an age related  factor.   Any guesses what age related  factor could cause a drop in the Fico 2 score?

 

Pure  speculation:  I paid off my only installment loan (an home equity loan) on 3/2/20.  Could it be that a closed installment loan still has some positive effect on Fico 2 which wears  off over time?

 

I'm asking for purely theoretical reason. I 'm not applying for any credit in the foreseeable future and losing those five points does not bother me at all.


Have you compared your closed accounts for 6/2 with those of 6/3? An old closed account dropping off could change things.


Total revolving limits 653000 (575000 reporting)

Message 5 of 32
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Regular Contributor

Re: Experian Fico 2 drops with no change on report


@CassieCard wrote:

I know it sounds odd, but I have seen it once before. The front-end shows one thing, and the back-end has updated data. There used to be a section at EX where this could be observed.

 

I commented at the time that this could have been the source of a lot of misinformation in the past. I have no idea if that can still happen, but it sure looks like it this time.


I have three credits cards whose statements cut 6/1-6/3. One balance  stayed at 0. One changed  from $5 to $0, and one stayed changed from  $43.37 to $43.30 (which reported as $43).  So your front-end vs back-end theory might explain a raise in score but not  a drop.

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Regular Contributor

Re: Experian Fico 2 drops with no change on report


@SouthJamaica wrote:

Have you compared your closed accounts for 6/2 with those of 6/3? An old closed account dropping off could change things.


Yes, I did. No change in closed accounts.

Message 7 of 32
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Valued Contributor

Re: Experian Fico 2 drops with no change on report


@Llewelyn wrote:

@CassieCard wrote:

I know it sounds odd, but I have seen it once before. The front-end shows one thing, and the back-end has updated data. There used to be a section at EX where this could be observed.

 

I commented at the time that this could have been the source of a lot of misinformation in the past. I have no idea if that can still happen, but it sure looks like it this time.


I have three credits cards whose statements cut 6/1-6/3. One balance  stayed at 0. One changed  from $5 to $0, and one stayed changed from  $43.37 to $43.30 (which reported as $43).  So your front-end vs back-end theory might explain a raise in score but not  a drop.


From 6/2 to 6/3, there would be no change in aging, as that already happened on the 1st. A scorecard change with aging can cause a drop in score, even with everything reporting exactly the same - this happened to me at AoOA 2yrs 0mo. But that would have already happened and be shown on the 6/2 report.

 

There just has to be something on that report causing this. Are there any new comments on any of your accounts, like "Affected by natural disaster"?

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

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Regular Contributor

Re: Experian Fico 2 drops with no change on report


@CassieCard wrote:

From 6/2 to 6/3, there would be no change in aging, as that already happened on the 1st. A scorecard change with aging can cause a drop in score, even with everything reporting exactly the same - this happened to me at AoOA 2yrs 0mo. But that would have already happened and be shown on the 6/2 report.

 

There just has to be something on that report causing this. Are there any new comments on any of your accounts, like "Affected by natural disaster"?


No. I used a program to compare the two reports word for word. There are no changes of any kind, except that the date of the report changed from 6/2 to 6/3.

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Regular Contributor

Re: Experian Fico 2 drops with no change on report


@CassieCard wrote:

From 6/2 to 6/3, there would be no change in aging, as that already happened on the 1st.

 


I  know that this is true for things like AAoA and AoOA. But is it true for all age-related factors?  My reports list "3/2/20"  under  "balance update" for my closed installment account (although "status update" is "3/1/20").  So in theory Fico 2  might have used   the "3/2/20" to determine the score. But to be honest, I don't believe this myself.  Whether  you  had an open installment loan three months ago or four months ago should not make any difference for the Fico sore.

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