Welcome @Jamzgyal
Which version are you seeing this? FICO or Vantage scores. Get util down to 6% and that will bump it up.
@Jamzgyal wrote:Hello Fico Fam,
So, I've been a bit obsessed with my credit scores for a few weeks. I've seen success as I worked so hard to get all my scores in the good range. The past few weeks; however, my scores have been going up and going down too. This morning, my Experian score dropped -3 points for reporting a balance on my card that was at zero for months. The credit usage is 10% on the card.
Equifax was the same a week ago. Reported some balances on cards that were at zero and it dropped -3 points.
It is safe to say, I do not understand the system at all. I am in the final stage of my chapter 13; I make my last payment tomorrow. Is this a common thing for scores to fluctuate towards the end? Is it because my scorecard is now showing good that any little balance drops my score? I'm just frustrated.EX is showing that my aggregate credit usuage is at 10%. EQ and TU is under 10% for now.
Any advice before I hurl my phone off my balcony?
Thank you!
1. Welcome to the forum.
2. It is not really possible to assess cause-and-effect relationships to these slight dips and gains. So the reason you are ready to hurl your phone is that you are seeing relationships where they do not exist. The only actual way to assess cause and effect would be to have daily updated access to both the reports and the scores with both updated each day in real time. I know of no way to do that without spending a fortune.
@Jamzgyal wrote:Thanks for your response and the welcome @SouthJamaica. The funny thing is that I pay for fico and get the alerts. I have the Experian app as well, CK, TU and EQ. When I say I'm obsessed...
I'm learning. I understand this is an algorithm based on patterns and behaviors. I also understand that I have a dirty scorecard with an open bankruptcy. I'm not expecting to have super high scores as I understand it takes time. The frustration comes from trying to do everything right and the point fluctuation is getting to me.
I think I should just sign out of all the apps until discharge and chill out.
1. The alerts (a) are not usually timely, and (b) do not have anything to do with cause and effect. The substance of the alert is the information being transmitted, and they tack on their most recent information about the score. There is often no connection between the two.
2. No almost none of the FICO algorithms are based on patterns and behavior; they are based on static data at a given point in time.
3. There is point fluctuation because the data is always changing.
@Jamzgyal wrote:
@SouthJamaica wrote:
@Jamzgyal wrote:Thanks for your response and the welcome @SouthJamaica. The funny thing is that I pay for fico and get the alerts. I have the Experian app as well, CK, TU and EQ. When I say I'm obsessed...
I'm learning. I understand this is an algorithm based on patterns and behaviors. I also understand that I have a dirty scorecard with an open bankruptcy. I'm not expecting to have super high scores as I understand it takes time. The frustration comes from trying to do everything right and the point fluctuation is getting to me.
I think I should just sign out of all the apps until discharge and chill out.
1. The alerts (a) are not usually timely, and (b) do not have anything to do with cause and effect. The substance of the alert is the information being transmitted, and they tack on their most recent information about the score. There is often no connection between the two.
2. No almost none of the FICO algorithms are based on patterns and behavior; they are based on static data at a given point in time.
3. There is point fluctuation because the data is always changing.
This is interesting and eye opening. I've never seen it explained this way before. I watch so many YouTube channels from so called credit gurus and my understanding was more of the former not the latter. It's like pay your bills on time, pay it to this amount and you'll get this outcome. I'm not taking into consideration the additional data and timing of said data reported that factors into one's scores. Super helpful.
I'll admit, I am learning as I go. My family isn't versed on any of this, so if I appear to be an idiot on this stuff, I'll own it.
In this forum you'll get a much clearer view of the reality of FICO scoring than you'll get from the self declared youtube gurus. While there are very few 'gurus' here, since we're all outsiders, everything we say is subjected to scrutiny, debate, contradiction, presentation of contradictory facts and experiences, etc., so in the end you come out with a more accurate perspective. We're no gurus necessarily, but if we say something wrong, or something that doesn't comport with other folks' experience, we'll hear about it mighty quickly. And when we're wrong, or might be wrong, we'll admit it. So when we say something that hasn't been corrected or retracted, it's probably right, or at least arguable 