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Experian Fico 8 15 Point Drop

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Anonymous
Not applicable

Experian Fico 8 15 Point Drop

I posted last week about my EX Fico 9 score and it was never really solved. My EX Fico 8 score updated today and shows a drop from 759 to 744. I've never even recieved a drop that large, so it is really troubling not understanding why.

 

A quick break down as reported by EX:

 

Payment History - No misssed payments

Utilization - $232/$27,100 (Interesting they are including the amount owed on my Gold) rounded down to total 0%. Balances on 4 cards

Length of Credit - Oldest 3 years, youngest 5 months, Average 1 year 8 months

Inquiries - 4 total 2 on EX, youngest from Sep-2019 for the Amex Gold

Types - 6 Revolving, I've never had a loan

 

There was one change from Jan-2020 to Feb-2020. My Target Red Card recieved an Auto CLI from 10k to 12K. My total balnces remained within $20 month to month. My EX Fico 8 and 9 were 759 from Oct-2019 to Jan-2020. There doesn't seem to be any fraud or anything, but it's concerning seeing such a large drop. Should I contact EX and see if they can help at all?

 

 

 

Message 1 of 39
38 REPLIES 38
chiefone4u
Established Contributor

Re: Experian Fico 8 15 Point Drop

Not positive, but I think your Target card CLI caused an all zero penalty. FICO scoring doesn't like 0% utilization. 

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Message 2 of 39
Anonymous
Not applicable

Re: Experian Fico 8 15 Point Drop

Utilization rounded to 0% does not have an all zero penalty. Only when utilization is truly 0% reporting a zero balance would you see a point drop for that.

Message 3 of 39
Anonymous
Not applicable

Re: Experian Fico 8 15 Point Drop

I'm wondering if it has anything to do with how many accounts you have relative to your profile age on top of that CLI you just received. 

Did you see on Experian what your score factors are? For instance, on my profile Experian says I have all positive factors except for "You have short credit history"

Message 4 of 39
AllZero
Mega Contributor

Re: Experian Fico 8 15 Point Drop

Not including your charge card, how many revolvers are reporting a balance, zero?
Message 5 of 39
Anonymous
Not applicable

Re: Experian Fico 8 15 Point Drop


@Anonymous wrote:

I'm wondering if it has anything to do with how many accounts you have relative to your profile age on top of that CLI you just received. 

Did you see on Experian what your score factors are? For instance, on my profile Experian says I have all positive factors except for "You have short credit history"


On the mobile app there are two red score factors: Short credit history and no recent activity from non-mortgage installment loan. 

 

These have always been true though, so I'm not sure why those would cause a 15 point drop now?

Message 6 of 39
Anonymous
Not applicable

Re: Experian Fico 8 15 Point Drop


@AllZero wrote:
Not including your charge card, how many revolvers are reporting a balance, zero?

EDIT: Two have a zero balance. The other 3 have a balance and have a percentage around 1%

Message 7 of 39
AllZero
Mega Contributor

Re: Experian Fico 8 15 Point Drop


@Anonymous wrote:

@AllZero wrote:
Not including your charge card, how many revolvers are reporting a balance, zero?

Two. The other 3 have a balance and have a percentage around 1%


Other 3? Can you elaborate?

 

1 is a charge card. 2 are revolvers. Where did this other 3 come from?

Message 8 of 39
AllZero
Mega Contributor

Re: Experian Fico 8 15 Point Drop


@Anonymous wrote:

@AllZero wrote:
Not including your charge card, how many revolvers are reporting a balance, zero?

EDIT: Two have a zero balance. The other 3 have a balance and have a percentage around 1%


Noted. You have 3 out of 5 revolvers reporting ~1% utilization per each.

Message 9 of 39
Anonymous
Not applicable

Re: Experian Fico 8 15 Point Drop


@AllZero wrote:

@Anonymous wrote:

@AllZero wrote:
Not including your charge card, how many revolvers are reporting a balance, zero?

Two. The other 3 have a balance and have a percentage around 1%


Other 3? Can you elaborate?

 

1 is a charge card. 2 are revolvers. Where did this other 3 come from?


5 Credit Cards and 1 Charge Card.

 

CFU had a reported balance of $44/5000

RedCard had a reported balance of $48/12000

WF Propel had a reported balance of $28/3000

It had a $0 balance

MSCGU Visa had a $0 balance

Amex Gold had a $112 balance

Message 10 of 39
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