Experian Score Drop ? How long until rebound ?

[Shadowfactor]

I was wondering why my Experian score has dropped 26 points. I expected a minor drop When I closed my capital One Secured Credit. $200CL 3 months age. But 26 points seems like a lot. Credit karma saw a boost in about 25 points for each report.

It was 657 FICO 8 on 12/2 and today it’s 631

Changes in credit report between the two dates.

Capital One AU account CLI from 6K to 9K
Capital One secured card closed 3 months age $200 CL
Capital One AU balance decrease from 650 to 205


My report details:

Current Util: 1%

AAoA before closure : 3 years 4 months.

FICO 8 as of 11/29/2017
EX: 657
EQ:667
TU:669

Card accounts:
Capital 1 AU $9K- 2.2 years $205
Credit one $450 - 5 months $0
Discover Secured $200 - 5 months $0
US Bank $4K - 4 months $0
Amex $2K -1 month ( not reporting yet)
Amex AU $22K- 3 Months $0
BoA $6k- 1 month $35
Amex PRG - 2 weeks ( Not reporting yet)

Closed Accounts :
Capital One Secured 3 months $200 CL
Chase CC from 2009
US Bank Secured CC from April 2017 (closed when I got a Flexperks card) (8/20/17)

Collection Accounts:
2 from 2012 ( falling off in Jan 2018)
1 from 2015 ( $670) With Capital one for a previous Charge off. ( Sent PFD letter, waiting to hear back

Installment loans:
Hydunai Auto Loan 2009 of 13K. Made 21 payments on it before paying it off completely in 2011
Student Loan opened in 2009 ( 3k) closed in 2011.

[Anonymous]

As long as you have 3 other CCs reporting, closing a credit card has no effect on FICO scoring unless it increases aggregate utilization or you left a balance on the card closed.  AAoA is NOT effected by closing an account until the account "falls off" in 7-10 years after closure.

Something else is going on with your reports.   Double-check every tradeline including the AU in case of reported utilization or any new lates.  Check to see if an old collection that stopped updating recently updated again.

You've got some new accounts reporting, so between inquiries and AAoA drop, it's also possible there's a FICO ding there.  I just can't imagine how a closed account would ding you that much unless it dropped you below 3 credit cards reporting, which does NOT appear to be the case.

[Shadowfactor]

I just checked everything.

Only things that I saw.

Capital One secured card closed.
Capital One AU - updated balance from 650 to 250. Updated pay history. For last month. Always positive.
A couple of my other credit cards updated the payment history. No change in balance and reported another month of positive pay history.

The two collection accounts from 2011. In the last updated field they both say 2012. But I did notice Updated pay history. Every month for past 24 months it shows charge off besides October 2017. Where it shows no data.
Is this the reason ?

[Anonymous]

I doubt that's the issue but I guess it's feasible that it would be considered an inactive account now.  I've never seen it before personally.

One thing I've seen (and others have here, too) with MyFico reporting is that they may show a credit score that actually differs from the credit report pulled by 1 day.  It's an annoyance but I've seen it myself when CreditKarma shows the CORRECT report today, but MyFico shows a report that is 1 day old but a score that is from today's hidden report.  I don't know if your credit monitoring is doing that, but I'd say check into some of the free report sites like CK or WH or whatever and see if anything may have appeared literally that day that your credit monitoring didn't show yet.

[Shadowfactor]

Credit karma updated today and doesn’t show any changes but yet my EQ score went up 14 points. It was last updated yesterday with the changes I mentioned.

As far as my Experian FICO 8 score. I obtained it through discover scorecard and Experians own app. Both updated this morning. Both showing the same score.

I did just have my Bank of America card report about a week ago, but it was showing on report when FICO score was 657 through Experian app. And showed 657 for about 4 days after showing on report until my free Experian trial ran out.

It baffles me unless the new account showing affected the score and the score was just extremely delayed updating.

I’m wondering if TU and EQ FICO dropped since Experian did or they went up like credit karma’s score did.

[Anonymous]

Spend $1 to get the CCT trial and then call to cancel after pulling your 3B.

[Shadowfactor]

CCT ???

I’m expecting my 2 collection accounts to fall off next month. That’s the removal date for them. How much will my scores improve when those drop off ?

[Shadowfactor]

@ABCD2199

I just noticed that I only have 2 open credit cards that are under only my name.
I have 2 Indv credit card accounts. One joint account and then 3 AU accounts.

Could that be the reason for my score drop ?

[Anonymous]

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@Shadowfactor wrote:
CCT ???

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Credit Check Total.  A $1 trial membership there gets you your 3B reports and 3 FICO 08 scores.  Twice, for $1.