Is this a "rebucket"?

[blacklotus]

This is crazy.  I opened up two CC in March one CU with $2500 CL and one BBRZMC with $1000 CL.  I can understand the score dropped a little but on Friday I got a Scorewatch alert- then all of a sudden- I'm talking like a few hours later after I ordered my reports again:

Your FICO® score decreased to 659 on April 16, 2010.

Do any experts know what happened???

[llecs]

Based on your siggy...724 to 659? Yikes.

The same exact thing happened to me last summer. I brought my EQ FICO to around 730 or so and with a reported util of 18% TU was around 750), I decided to give Penfed a shot. They denied me for util and I went schizo. I app'd for Discover, Amex, and a Penfed LOC. I got approved for all 3 and then disaster struck when they hit. Both EQ and TU FICOs tanked to around 650 overnight. My AAoA decreased by a whole number and the new TLs were a bit too much for my score. I was rebucketed and was easily evidenced by the rearranging of the positive and negative factors on pages 2 & 3 of the FICO reports. Now approaching a year later, there still hasn't been any major gains. Util is up on my end, but even accounting for that, there was probably no more than a 20 points recovery. Nothing to do now but wait it out and not app.

[Jazzzy]

I wonder if utilization might be a key.

I started in early August with my EQ FICOs at 766. I added a PenFed VISA and a Discover. I also added a used auto loan from PenFed and 3 new school loan accounts (they keep moving around without my knowledge). I also have a new account from last May that is still under 1 yr, giving me 7 accounts <1 yr old.

I'm at 762 right now, and the lowest it ever got was 753 during all these months. Basically, nothing moved. I kept waiting for a drop that never came.

But we carry virtually no utilization. A couple of balances might show, but in all they still add up to <1%. Age could be another factor. My oldest is >26 years. I do know that my AAoA dropped a whole number (at least). I believe I was over 8...now I'm 6.

As busy as I was during those months with credit, I wasn't rebucketed.

[smallfry]

---

@LynetteM wrote:

I wonder if utilization might be a key.

I started in early August with my EQ FICOs at 766. I added a PenFed VISA and a Discover. I also added a used auto loan from PenFed and 3 new school loan accounts (they keep moving around without my knowledge). I also have a new account from last May that is still under 1 yr, giving me 7 accounts <1 yr old.

I'm at 762 right now, and the lowest it ever got was 753 during all these months. Basically, nothing moved. I kept waiting for a drop that never came.

But we carry virtually no utilization. A couple of balances might show, but in all they still add up to <1%. Age could be another factor. My oldest is >26 years. I do know that my AAoA dropped a whole number (at least). I believe I was over 8...now I'm 6.

As busy as I was during those months with credit, I wasn't rebucketed.

---

I think your strong age of accounts is the key here really.

[blacklotus]

Thank You both for the input.  As you can see my T/U is back up there.  I am amazed at how fast T/U resolved this.  I went from 761 to 655 on Friday.  I freaked out and disputed a paid off account that reappeared on my report and today its gone!  I give kudos to Transunion for the expeditiousness of this dispute.  I have one more on that report that is a credit card that was closed ten years ago that they are still investigating.

I also opened up some credit cards in March so this small drop is understandable- amazing I went from excellent to subprime credit with one erroneous item on my credit report.  

I also have one paid off reaged item on my EX report but according to my Experian Plus score I have Excellent credit so I'm not sweating that one but I am on the telephone to get it off there.

I really think I was rebucketed because of your replies and that might account for my score watch alert on Friday saying my EQ score dropped to 655 and when I pulled my report it went back up!  But from my studies of this board I understand that rebucketing is a good thing in the long run.

Thanks for the info Lynnette because I now have four cards I will be much more careful in how they report.  I paid off three of them to 0 balances this month and carry a balance on my Chase Freedom (intro period).  I plan to rotate their usage.  It just freaks me out that I may be charged an AF if I don't use them that's why I put mileage on them.

I feel much better now- thanks again.

[blacklotus]

 "I was rebucketed and was easily evidenced by the rearranging of the positive and negative factors on pages 2 & 3 of the FICO reports."

A sincere Thanks IIecs.  This happened to me.  I am seeing this as a positive sign.

[blacklotus]

I pull my reports too much but I just ordered my EQ report although I have scorewatch and I'm golden.  I am at 724.

This feels good because I know it's a solid score.

[blacklotus]

[llecs]

Blacktous, as an FYI, you posted a direct link from your SW graph to the post above. If anyone sees the graph, they will see their own graph and not yours. I'm mentioning this just in case someone sees the above post and think that its sheer coincidence that your EQ FICO matched theirs. Also some may have a concern for privacy and rest assured that nobody can see anybody's scores other than their own. And for those who don't have SW, they don't see anything.

[blacklotus]

Sorry!  I wish there was some way I could take a picture of it it is hilarious.

I will refrain from trying to do this in the future.