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