FICO From 755 to 690..

[Deuter]

I hope this is temporal

What happened here?

So i am going through a PC with Citibank.. this is my EQ Bankcard 8 score, I only did a credit reallocation and a product change and my score dropped like never a bomb. My utilization has always been 0% across all my cards, no late payments, i PIF and even pay sometimes before the statement.

When i checked why.... new info appeared that i haven't had before... that the age of my accounts is too young. What i think is because i am going through a Product Change is that Citi has not yet incorporated my oldest account that is the one going through the PC so my Average age of accounts dropped too much.

I only have these cards:

Amex Hilton Honors: $30,000 - Opened January 2020.

Citi Prestige: $25,000 - Opened March 2019

(Oldest Acct) Citi AAdvantage Plat: $10,000 - Opened May 2018. Has gone through different account numbers, and right now is in the process of product changing to Citi Double Cash. 

I couldn't believe this PC,credit reallocation is impacting my score so much. ?.? Clueless on whatsup? I think this in an internal Citi score as i don't have SSN/ITIN and my reporting to credit bureaus could be flawed. 

[Stralem]

Personally, I've never put stock into the score that Citi provides. It's never proven to be accurate.

That being said, a drop in AAoA (Average Age of Accounts) is to be expected when opening new lines of credit (especially since it looks like you only have 3 total), so don't sweat it. Your scores will recover in time.

[dragontears]

Has your Amex card reported yet?

[Deuter]

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@dragontears wrote:

Has your Amex card reported yet?

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I am not sure. As i don't have ITIN/SSN is near impossible for me to get an accurate Credit Report. The only scores i do have access are from Citi's website (EQ Bankcard 8), Amex Website (EX Fico 8) and American Express - My Credit Guide (TU Vantage).

What i can see from American Express - My Credit Guide (That is the more detailed one) is that my Amex is reporting at $10,000, as i recently got a CLI to $30K and it has not updated yet.

I also don't see on that Credit Report my AA/DC card, only Prestige and Hilton. My score in Amex EX is right now as of today 731, and TU Vantage 733.

[Anonymous]

I have several cards that are store cards and my oldest wells platinum. They are more valuable to me as old accounts and don't offer much in the way of rewards.

The only reason I have them is for the AAoA. I don't mess with them. I use them every couple of months just to keep them active.

You can call a csr for the card, and find out how often you need to use them to keep them active.

They range  from "no use required" (nebraska furniture mart), to every 2 years, to every 6 months.

[Deuter]

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@Stralem wrote:

Personally, I've never put stock into the score that Citi provides. It's never proven to be accurate.

That being said, a drop in AAoA (Average Age of Accounts) is to be expected when opening new lines of credit (especially since it looks like you only have 3 total), so don't sweat it. Your scores will recover in time.

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Totally, i won't sweat it but i thought that a Credit Reallocation, Opening of a new card (Amex Jan), and a PC would impact so much. I think this is still processing so i won't sweat it so much it's just i thought these changes were like 5-10 points down.. not exactly expecting 65 random point drop from 1 month to the other per Citi.

[elixerin]

who cares lol and i mean this in the nicest way possible you seem to be rocking the credit game for someone with no SSN/ITIN and just a year in. 

Agree with others about the time thing but unless you're going for a mortgage or car loan soon i wouldn't worry, the score that Citi shows you is EQ08 so it is widely used by lenders.

I think the next update will be an exponential increase if anything, even if not though you'll live

[Deuter]

Thanks, i am a virgin still... 

[Remedios]

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@Stralem wrote:

Personally, I've never put stock into the score that Citi provides. It's never proven to be accurate.

That being said, a drop in AAoA (Average Age of Accounts) is to be expected when opening new lines of credit (especially since it looks like you only have 3 total), so don't sweat it. Your scores will recover in time.

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I'm not sure why you think it's inaccurate 

It's FICO 8 Bankcard score, and it's very accurate on the day Citi does SP.

It matches my Bankcard score when compared to two paid CMS, EX credit works and MyFico 

[Remedios]

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@elixerin wrote:

who cares lol and i mean this in the nicest way possible you seem to be rocking the credit game for someone with no SSN/ITIN and just a year in. 

Agree with others about the time thing but unless you're going for a mortgage or car loan soon i wouldn't worry, the score that Citi shows you is EQ08 so it is widely used by lenders.

I think the next update will be an exponential increase if anything, even if not though you'll live

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Who cares? 

Well, lenders could, because a lot of them subscribe to alerts, based on parameters they set.

It could be something like "Alert if collection account added", or "Alert if score drops by X amount of points", and/or "Alert if utilization exceeds 59%", at which time account may undergo a review. 

While this is not the end of the world if it's resolved quickly and no negatives are present, it can cause issues depending on a lender.