@Anonymous wrote:The common wisdom in these boards is that one cannot accurately predict what will push a score up or down. My score history seems to bear that out. Here is the past week's scoring on my MyFico scores:
Date CC balance +/- Score +/- CRA Credit Limit Change
1/23 +73 -6 EQ
1/21 +73 -5 TU
1/18 -127 -8 EQ
1/17 -127 -26 TU
1/16 -7 EQ +1,000 to $61,400
1/16 +10 EX +1,000 to $61,400
Please note that my Utilization never goes above 3%, and literally microscopic changes ($127 out of $60,000 is 0.208%) or less that 1/4 of 1% in my credit card balances seem to have outsized effect on my scores, and there is little if any consistency, especially with Equifax - balance goes up by $27, score goes down and balance goes down by $127, score goes down. The same action can have two radically different effects on different bureaus - add a new credit card with a whopping $1,000 line, and the score does down 7 points (Equifax) while the exact same action raises my score by 10 at Experian.
Far from it being "common wisdom", I don't think I have ever heard anyone say that "one cannot accurately predict what will push a score up or down". I certainly can accurately predict what will push my FICO 8 scores up or down. Your chart above gives only a few of the variables affecting your scores. And your discussion seems to assume cause and effect relationships between things which have no cause and effect relationship.
It is true that there are slight differences in the FICO 8 scores from the 3 bureaus. That doesn't make them "psychotic".
@Anonymous wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:The common wisdom in these boards is that one cannot accurately predict what will push a score up or down. My score history seems to bear that out. Here is the past week's scoring on my MyFico scores:
Date CC balance +/- Score +/- CRA Credit Limit Change
1/23 +73 -6 EQ
1/21 +73 -5 TU
1/18 -127 -8 EQ
1/17 -127 -26 TU
1/16 -7 EQ +1,000 to $61,400
1/16 +10 EX +1,000 to $61,400
Please note that my Utilization never goes above 3%, and literally microscopic changes ($127 out of $60,000 is 0.208%) or less that 1/4 of 1% in my credit card balances seem to have outsized effect on my scores, and there is little if any consistency, especially with Equifax - balance goes up by $27, score goes down and balance goes down by $127, score goes down. The same action can have two radically different effects on different bureaus - add a new credit card with a whopping $1,000 line, and the score does down 7 points (Equifax) while the exact same action raises my score by 10 at Experian.
Far from it being "common wisdom", I don't think I have ever heard anyone say that "one cannot accurately predict what will push a score up or down". I certainly can accurately predict what will push my FICO 8 scores up or down. Your chart above gives only a few of the variables affecting your scores. And your discussion seems to assume cause and effect relationships between things which have no cause and effect relationship.
It is true that there are slight differences in the FICO 8 scores from the 3 bureaus. That doesn't make them "psychotic".
This.
OP - you seem to be on a small campaign, based upon your comments in a few threads lately, to disparage the FICO scoring system, or in the least, report inaccurate assumptions as facts.
It is true that the FICO scoring system can be a bit mysterious at times, but we are all better served by seeking answers to why scores do things, than just making baseless claims that help no one.
I am not on any kind of tirade - far from it. But when I see things that seem to be contradictory (like the same event causing two opposite reactions) I ask why. Mysterious is one thing - contradictory is another.
1. Reducing one's aggregate revolving utilization NEVER by itself causes a FICO 8 score drop unless the percentage is dropped to zero.
2. Increasing one's aggregate revolving utilization NEVER by itself causes a FICO 8 score increase.
3. Adding a new account creates multiple factors, which may be weighted differently in computations of the FICO 8 scores:
(a) one or more hard pulls on one or more bureaus (which will only appear in the report of the bureau from which it was pulled)
(b) a reset of 'age of newest account'
(c) a lowering of the average age of accounts
(d) an increase in the denominator portion of the fraction by which aggregate utilization is computed