@Patient957 wrote:Eq Fico 8 went from 814 to 808 when my JC Penney store card reported today. The only difference between my Eq report at 814 and and 808 is a CLI on that card from $3K to $5K.
At first I thought, there must be something else. But after inspecting both reports, there isn't. So all that's left for me to do is to try to understand why.
Some data points:
TCL (revolving):
41,400 reporting, before CLI
43,400 reporting, after CLI
7 cards total, 6 bankcards, 1 store card (JCP)
Revolving balance: $119 (before and after CLI)
3 bankcards cards reporting balances , $93, $18, $8
Now my best guess as to why this happened:
Before the CLI, the JCP card represented 7% of my total available revolving credit (3000/41,400 = 7%)
After the CLI, the JCP card represented 12% of my total available revolving credit (5000/43,400 = 12%)
So my theory is there may be scoring factor for percentage of non-bankcard (i.e. store card) revolving credit, with a penalty at a threshold of 10%.
Anyone ever see anything like this before? Have any other theories?
What's so difficult to understand...FICO scoring is so simple, transparent and straightforward...lol?
Okay, so at this point, I can say my theory was WRONG.
Experian updated with the CLI and did not budge.
In addition, I got the 6 points back on Equifax, in two increments of 2 and then 4 points, three days apart. Here's the chain of alerts:
I don't know the reason(s) behind these changes, but Experian was not affected. This weekend I should have some time to comb over my reports to try to figure it out.
But I know enough now to say the original theory is wrong. Something else caused the changes. I suppose it's possible it was just some MF glitch.
@Patient957 wrote:Okay, so at this point, I can say my theory was WRONG.
Experian updated with the CLI and did not budge......
I don't know the reason(s) behind these changes, but Experian was not affected. This weekend I should have some time to comb over my reports to try to figure it out.
But I know enough now to say the original theory is wrong. Something else caused the changes. I suppose it's possible it was just some MF glitch.
Too bad you can't edit the headline.
@SouthJamaica wrote:
@Patient957 wrote:Okay, so at this point, I can say my theory was WRONG.
Experian updated with the CLI and did not budge......
I don't know the reason(s) behind these changes, but Experian was not affected. This weekend I should have some time to comb over my reports to try to figure it out.
But I know enough now to say the original theory is wrong. Something else caused the changes. I suppose it's possible it was just some MF glitch.
Too bad you can't edit the headline.
I know you're just kidding, but mistakes are a learning tool. I think it is more beneficial to admit and highlight your error and help others.
@indiolatino61 wrote:
@SouthJamaica wrote:
@Patient957 wrote:Okay, so at this point, I can say my theory was WRONG.
Experian updated with the CLI and did not budge......
I don't know the reason(s) behind these changes, but Experian was not affected. This weekend I should have some time to comb over my reports to try to figure it out.
But I know enough now to say the original theory is wrong. Something else caused the changes. I suppose it's possible it was just some MF glitch.
Too bad you can't edit the headline.
I know you're just kidding, but mistakes are a learning tool. I think it is more beneficial to admit and highlight your error and help others.
Actually I wasn't kidding. So often I see posts from people who are saying something that is dead wrong which start out "somewhere I read that....." I can just see someone putting up a post one day that says "Somewhere I read that you can get a score decrease from a credit limit increase". It's better to correct erroneous statements than to leave them sitting there.
Unfortunately, MyFICO has changed its software so that one can no longer edit a post after a short period of time has passed.
@SouthJamaica wrote:
@indiolatino61 wrote:
@SouthJamaica wrote:
@Patient957 wrote:Okay, so at this point, I can say my theory was WRONG.
Experian updated with the CLI and did not budge......
I don't know the reason(s) behind these changes, but Experian was not affected. This weekend I should have some time to comb over my reports to try to figure it out.
But I know enough now to say the original theory is wrong. Something else caused the changes. I suppose it's possible it was just some MF glitch.
Too bad you can't edit the headline.
I know you're just kidding, but mistakes are a learning tool. I think it is more beneficial to admit and highlight your error and help others.
Actually I wasn't kidding. So often I see posts from people who are saying something that is dead wrong which start out "somewhere I read that....." I can just see someone putting up a post one day that says "Somewhere I read that you can get a score decrease from a credit limit increase". It's better to correct erroneous statements than to leave them sitting there.
Unfortunately, MyFICO has changed its software so that one can no longer edit a post after a short period of time has passed.
I see your point, but at least here most posts that are in error include an update correcting the wrong information. I usually read all the subsequent posts, not just the beginning few. I hope most people do that here and not just take a dramatic headline at face value. I agree, wrong information is worse than no information.
Update: Now I see...yes, in the past post titles as well as the body were able to be corrected. I suppose a new post would be needed to correct errors too old to be corrected directly. Sorry for my confusion and thanks.
Yes I experienced the same thing but this is def. caused by something underlying
