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FICO Scoring...

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Junejer
Moderator Emeritus

FICO Scoring...

I received a MyFICO alert that several changes have been detected on my credit report. I knew one change was coming, so I was curious about "several". I logged in and got my new all-time MF SW alert. See picture below.

 

Edit: actual verbiage used was "multiple" not "several".

 

Screenshot (193).png







Starting Score: 469
Current Score: 846
Goal Score: 850

Take the myFICO Fitness Challenge
Message 1 of 7
6 REPLIES 6
Linnaea
Frequent Contributor

Re: FICO Scoring...

I see you started in the 400's ... weekdays your secret.  And what was the recent jump from?

Message 2 of 7
Junejer
Moderator Emeritus

Re: FICO Scoring...

Getting rid of the baddies from DD's SL, letting age do its thing and getting a few more cards while keeping util really low. The last baddie fell off in 2021. I've been in the 800s pretty much since then.







Starting Score: 469
Current Score: 846
Goal Score: 850

Take the myFICO Fitness Challenge
Message 3 of 7
Junejer
Moderator Emeritus

Re: FICO Scoring...

@Linnaea, I just looked at my EQ score chart. My FICO scores were languishing in the upper 400s, low 500s for about three years, after falling from a high of 790 (EQ5). The effect of the Great Recession took a huge toll on me and my business at the time. I ultimately shut the doors to that company and took a major credit hit. I started coming out of it in 2015, which is when I was able to bring the SL current. I hit the 600s again in April 2015 and bounced between 650 and 670 for two years. Hit 700 in summer 2017 and stayed in low to mid 700s until October 2021. Suddenly, I jumped to the high 700s (779) when the final 120dpd dropped off. Hit 800 in December 2021 and haven't dropped out since.

 

When my scores hit rock bottom, I wasn't paying attention to them AT ALL and even dropped off of this forum for that time. I just couldn't stand the pain of it. My main mission was to keep all bills current. I knew that if I was able to avoid going late, I would eventually hit the upper 700s again. Credit is a marathon--you treat it right, you will be rewarded. I'm extremely proud of my F8 scores, especially seeing where I came from. I have no desire to go back there.







Starting Score: 469
Current Score: 846
Goal Score: 850

Take the myFICO Fitness Challenge
Message 4 of 7
CorpCrMgr1
Valued Contributor

Re: FICO Scoring...


@Junejer wrote:

I received a MyFICO alert that several changes have been detected on my credit report. I knew one change was coming, so I was curious about "several". I logged in and got my new all-time MF SW alert. See picture below.

 

Edit: actual verbiage used was "multiple" not "several".

 

Screenshot (193).png


My CS per MyFICO dropped four points due to increase CC balance. My percentage was still under 1%. Today it went up four points because MyFICo stated I made a $199.00 payment to one of my Chase cards. No, I did not! My payment was $264.31. I verified on my Chase account and with my financial institution.

What is going on with FICO scoring? 

Message 5 of 7
markbeiser
Established Contributor

Re: FICO Scoring...


@CorpCrMgr1 wrote:


My CS per MyFICO dropped four points due to increase CC balance. My percentage was still under 1%. Today it went up four points because MyFICo stated I made a $199.00 payment to one of my Chase cards. No, I did not! My payment was $264.31. I verified on my Chase account and with my financial institution.

What is going on with FICO scoring? 


If you are carrying a balance from month to month, only the part of the payment that reduces the principle balance is counted on the report, the part of the payment that was for interest is not.

Back to gardening until Late February 2025.
Current FICO8:
Message 6 of 7
CorpCrMgr1
Valued Contributor

Re: FICO Scoring...


@markbeiser wrote:

@CorpCrMgr1 wrote:


My CS per MyFICO dropped four points due to increase CC balance. My percentage was still under 1%. Today it went up four points because MyFICo stated I made a $199.00 payment to one of my Chase cards. No, I did not! My payment was $264.31. I verified on my Chase account and with my financial institution.

What is going on with FICO scoring? 


If you are carrying a balance from month to month, only the part of the payment that reduces the principle balance is counted on the report, the part of the payment that was for interest is not.


I never carry a balance. I pay weekly. Sometimes more often if I have a pending charge. I also verified a new charge didn't hit or was pending.  

Message 7 of 7
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