FICO is a freak *UPDATE*

[lord_kinbote]

I have a US Bank card that I use for gas, time to time and my last statement was 37.00.  I PIF'd and since the end of the month just passed, US Bank reported.  Myfico alerted me today, of a new EQ balance decrease and with the referenced specifics, I received an 11 point increase.  Really?  37.00 to 0 and 11 points?  EX reported a new shared secure loan yesterday and I took a 12 point dive - that I understand, due to impact on AAoA.  

So I pulled a daily and two things had changed on EQ.  The balance decrease, I spoke about above and the Alliant shared secured loan is now reporting on EQ and EX (I have not received a myfico alert for EQ).  

I do not believe the alerts that roll in from myfico are specific to the alert type - there seem to be other factors at play, but only one alert title is used.  My avail credit is 83k and my util is .012%, so a decrease of 37 dollars should not have ANY impact - much less an eleven point increase.  Hate to complain about a positive factor, but understanding FICO is a lesson in futility.

[jamie123]

It seems to me that when people add a lot of new accounts FICO almost doesn't know how to handle the scoring until the accounts age for at least a few months. It's almost like any change on your reports will result in a pronounced swing in your scores either up or down.

When all your new cards are about 2 years old you will be back here telling us how you can't get your scores to budge no matter what you do!

[Anonymous]

The alert triggers a score recalculation. The alert is not the only reason for the score change. The score monitoring service does not track every score change. It only tracks for specific trigger events (like balance changes and new accounts). Everytime there is a trigger event, your score is recalculated. When your score is recalculated the non-triggering events that also effect your score are considered in the recalculation. At least that is my understanding based on the posts I have read here. 

[Anonymous]

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@akula wrote:

I have a US Bank card that I use for gas, time to time and my last statement was 37.00.  I PIF'd and since the end of the month just passed, US Bank reported.  Myfico alerted me today, of a new EQ balance decrease and with the referenced specifics, I received an 11 point increase.  Really?  37.00 to 0 and 11 points?  EX reported a new shared secure loan yesterday and I took a 12 point dive - that I understand, due to impact on AAoA.  

So I pulled a daily and two things had changed on EQ.  The balance decrease, I spoke about above and the Alliant shared secured loan is now reporting on EQ and EX (I have not received a myfico alert for EQ).  

I do not believe the alerts that roll in from myfico are specific to the alert type - there seem to be other factors at play, but only one alert title is used.  My avail credit is 83k and my util is .012%, so a decrease of 37 dollars should not have ANY impact - much less an eleven point increase.  Hate to complain about a positive factor, but understanding FICO is a lesson in futility.

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You hit it dead on.  myFico has been alerting me of score increases, and half the time they seem for the most abnormal things.  For instance, I got an alert of a 12 point increase for an old low limit retail card being closed.  Makes no sense.  

I think when there's a lot of activity on your credit report, Fico gets confused and may report the wrong determining factor for a score change.  I've seen some people on here report that they've been getting score increases for inquiries...rrright. 

[Imhotrodcrazy]

When I got my recent Nasa card,  only EX and EQ alerted me to a new account.  TU never did,  and it's been a month.  I had to pull TU myself to see that it was reporting.  So much for "credit monitoring". 

[Revelate]

I've seen some real oddities with my own 3B monitoring.

Trying to get uber clean this month and see if it straightens out; I'm not certain if FICO 8 is awkward (but the old SW behaved pretty darned predictably in my testing) or whether something is off in the new solution, or whether I've completely lost track of where my accounts are, but it's certainly confusing to me.

Will see after I get clean (1 account reporting a balance unless I screw up, again) if my scores go back to what they were or if I'm still off 15ish points for some other unknown reason.

[lord_kinbote]

OK, quick recap.  FICO scores were 760ish accross the board in September.  Opened 10 new credit card accounts and 1 share secured loan.  As of last week, 9 of 10 credit accounts were reporting and the 1 installment was reporting.  Over that time period, TU dropped a few points, but then went back to original socre of 760ish.  TU was the odd ball, I expected it to be more like EQ/EX - which makes sense, due to a lot of new acounts/inquries/AAoA impact.  Never understood why it did not drop like EQ/EX.

So it took about 3 months to arrive at scores of EQ: 699, EX: 691: and TU: 763.  Today, Amex finally hit EQ - took 2 months to report.  I received +38 points!  Score went from 699 to 737.  We spoke about all the changes, but I was surely not expecting this type of rebound - as a matter of fact, I was expecing my scores to tank even lower when Amex hit due to the AAoA.  I pulled a daily 3B report from myprivacymatters and confirmed nothing has changed on report, except the new amex account - which has been reporting on all three for about a week - confirmed by doing daily pulls for the last week, but apparently myfico is just now catching on.  

I dunno how to caclulate the massive 38 point increase - dropped into a new bucket due to aging some of the new acconts (9 were opened in September and my Chase CSP was opened in second week of October)? I will gladly take the points back!

[lord_kinbote]

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@akula wrote:

So it took about 3 months to arrive at scores of EQ: 699, EX: 691: and TU: 763.  Today, Amex finally hit EQ - took 2 months to report.  I received +38 points!  Score went from 699 to 737.  We spoke about all the changes, but I was surely not expecting this type of rebound - as a matter of fact, I was expecing my scores to tank even lower when Amex hit due to the AAoA.  I pulled a daily 3B report from myprivacymatters and confirmed nothing has changed on report, except the new amex account - which has been reporting on all three for about a week - confirmed by doing daily pulls for the last week, but apparently myfico is just now catching on.  

I dunno how to caclulate the massive 38 point increase - dropped into a new bucket due to aging some of the new acconts (9 were opened in September and my Chase CSP was opened in second week of October)? I will gladly take the points back!

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I was wrong.  Looking at my CR more closely, I noticed that EX is missing an account that EQ/TU are reporting. That account is closed, but EQ and TU are still reporting;

DSRM NT BK

Opened: 04/29/2005 

Reported: 10/03/2011

Interesting enough, when doing an AAoA calculation, I determined that EQ/TU have me in a 3.5 AAoA bucket.  I am in a 3.16 bucket with EX.  So apparently, when I received the 38 points it was due to me dropping into a new bucket of 3.5 years in regards to the AAoA.  This makes sense.  Even though myfico does not report information accurately.  

So, is it possible to have EX update thier files to reflect this closed account or would I be wasting my time in attempting?  Thanks in advance for the help.

[Anonymous]

I have noticed that when looking at my Experian report from Experian I  see that myFICO has been sof pulling  on the EXACT days that I receive an alert from Myfico. I do not believe that the CBs are reporting to myfico I  believe  that myfico is pulling  our credit reports and then reporting. Not the other way around as the product states. Thoughts?

[Anonymous]

Has anyone noticed this at all?