Experian is a trip!

[egaithe]

I have the FICO monitoring and I got a ding about my credit. It said that my balances decreased by $291. Then it showed a 16 point drop by Experian! What gives?  Util went from 77% to 67%.

[Revelate]

Check the before and after reports.

[800FICOGoal]

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@egaithe wrote:

I have the FICO monitoring and I got a ding about my credit. It said that my balances decreased by $291. Then it showed a 16 point drop by Experian! What gives?  Util went from 77% to 67%.

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More information is needed in order to correctly answer your question. Something else besides a balance decrease dropped your scores. You didnt say what accounts were involved. Did the balance decrease involve paying off an installment loan?

[egaithe]

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@800FICOGoal wrote:

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@egaithe wrote:

I have the FICO monitoring and I got a ding about my credit. It said that my balances decreased by $291. Then it showed a 16 point drop by Experian! What gives?  Util went from 77% to 67%.

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More information is needed in order to correctly answer your question. Something else besides a balance decrease dropped your scores. You didnt say what accounts were involved. Did the balance decrease involve paying off an installment loan?

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People always say that, but why would Myfico report it that way?

[Anonymous]

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@egaithe wrote:

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People always say that, but why would Myfico report it that way?

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They are providing you with an alert indicating that something changed on your credit report.  That's it.  At the time of the alert, they provide you with a new FICO score.  The change in the FICO score has nothing to do with the alert reason you're seeing.  Here's a thread I started about 2 months ago as to how this is quite misleading to MF customers:

https://ficoforums.myfico.com/t5/myFICO-Product-Feedback/Alerts-unrelated-to-provided-score-changes/...

[egaithe]

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@Anonymous wrote:

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@egaithe wrote:

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People always say that, but why would Myfico report it that way?

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They are providing you with an alert indicating that something changed on your credit report.  That's it.  At the time of the alert, they provide you with a new FICO score.  The change in the FICO score has nothing to do with the alert reason you're seeing.  Here's a thread I started about 2 months ago as to how this is quite misleading to MF customers:

https://ficoforums.myfico.com/t5/myFICO-Product-Feedback/Alerts-unrelated-to-provided-score-changes/td-p/5537890

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Thanks! However I find it disgraceful for the system to assign a complete incorrect descriptor with a score change. Very unscrupulous.

[Anonymous]

The alert description is accurate in that the change to your credit report happened of course.  Whether or not that change impacted your score is of course questionable.  If MF would just put a disclaimer next to the new provided score, indicating that any score change may not have anything to do with the alert reason received, we'd have a lot less confused individuals on this forum.

[Anonymous]

Yeah but giving away the actual reasons a score went up and down would kind of remove the whole “proprietary” part from the scoring model. Never gonna happen. 

[Anonymous]

I don't think anyone is suggesting that the actual reasons should be given for score changes, simply that it shouldn't be suggested that the reasons given are responsible for a score change.

[egaithe]

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@Anonymous wrote:

I don't think anyone is suggesting that the actual reasons should be given for score changes, simply that it shouldn't be suggested that the reasons given are responsible for a score change.

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Exactly.