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Experian Mortgage Score DROPPED for now reason

Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@tooleman694 wrote:

On Jan 20th it was

Credit used 

$7,924
Credit limit
$16,180
 
Jan 21st it was
Credit used 
$7,806
Credit limit
$16,180
 
As of this morning it is 
Credit used 
$7,008
Credit limit
$16,180
 
I saw no change in any of the scores. However I did get alerted by myfico, my TU 8 jumped 6 points and my EQ 8 jumped 3.
 
I am probably going to burn 50 bucks on Feb 1st and pull a 3B to see what it did to my mortgage scores. I really would like to be at 680 before my broker pulls us in March. My last 3B pull for mortgage scores on the 14th I was at.
 
EQ 671 TU 667 EX 638
 
After the ups and downs on my EX, it is currenly sitting at 650. Hopefully I can sqeeze 9 on EQ and 13 on TU.

@tooleman694 looks like utilization went from 49% to 48% to 43%. 

you said you saw no score change and then you said you saw a six and three point change? Please clarify. Yes I hope you're able to reach your goal score as well!

 

BTW, you should've gotten your points back if any for that inquiry on the 20th. 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 61 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Seabus wrote:

I may have a similar problem.  I have been monitoring my reports almost daily for four months now and in that period have reduced revolving debt from 72% to 45%.  My score has progressively increased every month then bam FICO-2 dropped on Experian 28 points in one day (1/20 - 1/21).  No new accounts, credit inquiries, late payments or debt. FICO-8 stayed the same at 716 but FICO-2 dropped to 641.   The only thing I can think of is that I had a dispute statement removed from my account, but I thought that does not impact my score.  I called Experian and MyFiCO but no one could explain it.  They kept referring to a late payment from a few years ago but that is not new and has not changed on my report.  I am at loss and upset about this. I have been working so hard at this and it has been satisfying seeing the gradual improvements until now.


@Seabus it depends on what the dispute was. Sometimes when you have an active dispute it can cause that account not to be calculated in the metrics.

 

once a late ages to a certain point, there is a Scorecard reassignment, how long ago were the lates?

 

or who knows it could be a glitch. 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 62 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@Seabus wrote:

@AndySoCalthanks for the response.  The 2 disputes actually closed three months ago.  What changed was that I had the Customer Comment removed that from the disputes that stated "Dispute resolved – consumer disagrees".  I went through the reports for a 3rd time an nothing else changed.

 


@Seabus if the dispute closed three months ago, it shouldn't be having an effect now. I'm not aware of DPs reflecting a score change for having the customer comment removed you reference. 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 63 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

When my util went from 49 to 48 I got a 19 points on my EX Mortgage, but my Fico 8 did not change.

Message 64 of 142
Birdman7
Super Contributor

Re: Experian Mortgage Score DROPPED for now reason


@tooleman694 wrote:

When my util went from 49 to 48 I got a 19 points on my EX Mortgage, but my Fico 8 did not change.


@tooleman694 Can you verify the utilization out to 2 decimal points? because if it was 49.5% or higher to begin with, that could make sense.

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 65 of 142
AndySoCal
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

@Seabus 

 

Can you post the Experian score factors / Score reasons from the credit report before the score dropped and one from after the score dropped please? There should be up to 4 of them.

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 66 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

I picked up another 9 point this morning on my EX mortgage score, bringing me to 659. Not to bad since I was at 627 on Jan 16th. I had a couple cards report bringing total util to 40 percent. Those 2 cards each had a util change themselves. The weird thing is that my EX Fico 8 still no change thru all of this....... Well anyways my EX mortgage score is 21 points below my 680 goal. I am going to burn 50 and get a 3b Feb first, hopefully my EQ and TU saw this kind of change and if they did I will be well above 680 on those. My last 3b on Jan 14 with over 50 percent util I was EQ 671 and TU 667.

Message 67 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

Well I said screw it and I pulled my 3B.

EQ 671 grrrrrrr WHY??  TU 679 YES!! EX 659

 

I got a nice increase on my TU, one point shy. But EQ didn't move....... Even after going from 50 util to 40. WOW.........

Message 68 of 142
tooleman694
Valued Contributor

Re: Experian Mortgage Score DROPPED for now reason

Screen Shot 2021-01-25 at 6.32.18 AM.png

Message 69 of 142
UpAndComing74
Regular Contributor

Re: Experian Mortgage Score DROPPED for now reason

@LaHossBoss @BrutalBodyShots 

 

Hello.   Same thing happened to me. NO CHANGES. Except the CFA reason cropped up and I have 3 mortgage INQ.  Remember i was waiting until my 4 year discharge.  (I got my 700) but cannot explain the drop.  One report is 01/14 and the drop is 01/16.

Is AFFIRM the devil???  I have 20 lines of Affirm with 2 open.  I used it to build not knowing it can backfire.  Any benefit to bringing the 2 open ones to 0?

 

Screen Shot 2021-01-26 at 3.26.38 PM.pngScreen Shot 2021-01-26 at 3.23.53 PM.pngScreen Shot 2021-01-26 at 3.23.12 PM.png


Starting Score: 614
Current Score: 614
Goal Score: 700


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Message 70 of 142
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