@300FICOScore wrote:Basically what the title says. My FICO Score on the 2/24 was 688. However, I just got an alert that it increased to 708 yesterday.
httpss:/imgurr.com/afEZCsjwwWas there a reason it increase by 20 points even though nothing on the report changed? I read somewhere that FICO scores only use information that is on a credit report for scoring purposes. However, nothing on my Credit Report Changed, so why did my FICO score change?
your accounts got older, many age metrics change on the first of the month which can lead to a change in scores
oldest account, youngest account, average age of accounts, time since last delinquency
@300FICOScore wrote:That was my first assumption as well. It has still been less than a month since my last account was opened (reflected on both reports), and I don't have any delinquencies.
If you look at the pictures they both say:
Oldest Account: 6 months
AAOA: 2 months
an account opened on Feburary 1st would be the same age as an account opened on Feburary 29th, it would turn 1 month old on March 1st
it's not about "30 days", just month ticks, so to speak.
so everything got a month tick older, regardless of how many days it was.
@300FICOScore wrote:Basically what the title says. My FICO Score on the 2/24 was 688. However, I just got an alert that it increased to 708 yesterday.
https://imgur.com/a/fEZCsjwWas there a reason it increase by 20 points even though nothing on the report changed? I read somewhere that FICO scores only use information that is on a credit report for scoring purposes. However, nothing on my Credit Report Changed, so why did my FICO score change?
1. There was a change in your report; you just don't happen to know what it was.
2. In order to know what caused the score change, you would need to compare your report from the day before the change and the day of the change. In order to do that, you would need (a) your report from the day before (b) your report from the day of the change and (c) accurate information as to what the date of the change was.
If you subscribe to experian.com you might be able to access that information for Experian. Otherwise you're out of luck.
As to guessing, usually a score increase where you are unaware of any changes in your data is attributable to some aging factor, such as inquiries aging off, or passing a threshold in AoYA, AAoA, or AoOA. In your case, since it seems to have happened on around the first of the month, it might be the passing of a threshold in AoYA, AAoA, or AoOA. But from what you have described about your profile, nothing of that nature jumps out.
@300FICOScore wrote:Isn't my oldest account supposed to be 7 months old by that logic, and my AAoA 4 months. It says on the report that my oldest account is 6 months and my AAoA is 2 months. I opened my first account in late August. Aug,Sep,Oct,Nov,Dec,Jan,Feb,Mar should have been 7 ticks.
you're looking at myEquifax, and their counting method may not at all related to how FICO counts months at all, it also could just be delayed, or wrong (because it's Equifax).
I believe myEquifax updates account age dates based on the actual account open date, as opposed to at the start of the month
what are your accounts and their open date mm/yyyy?
do you have the free version of myFICO, do you have the insights section and the length of credit history tab?
My FICO score from Experian says:
However my TransUnion says:
AAoA is 3 months and AoOA is 6 months
And Equifax is at the bottom with:
AAoA of 2 months and AoOA at 6 months
My 3 accounts are:
Cap1 - opened 8/25/23
Discover - opened 12/04/23
BofA - opened 2/04/24
I have the free version of myFICO because I get all 3 FICO 8 scores and my EXP F9, EQ 5, TU F9 for free. Hopefully when I get my Citi CC in 5 months I will have my EQ BK9.