@Charmante wrote:Things have been going great! Went from a Low 600's, into the Mid 700's -- established an $8,500 Discover, a $5,000 USAA Signature Visa, etc... Then VERY randomly ALL my scores just FLEW down... Into the High 500's and Low 600's... On FAKO's and FICO's both... (Slightly less in FICO's)... Absolutely NO new derogatory information OR high utilization...
The ONLY thing I can think of is a LOT of new accounts? 5-6 in 6 months and 8-9 in last year...
Balances all under 9% -- total utilization very low 3-6%...
Can this cause such a HUGE drop? From 700's to high 500's?
My profile is NOT clean. It has one Charged-Off (which falls off June) and a 90 Day Late from 2 Years Ago. Everything else is 100% Perfect.
What are your actual FICO score drops per bureau?
If on a derogatory score card, it is my understanding one does not get penalized for new accounts. However, you may see some score loss due to the HP inquiry.
For most systems that track credit scores they will have a section for what has changed on the report between scores.
Like I use the free Experian portal and every time I check my score there is a link to click that will show me the details of the deltas between the 2. I mean down to like exact dollar increases/decreases of balances on each individual account.
Credit Karma also has this feature and it uses TransUnion and Equifax so between those 2 free sites you can see any changes in all 3 reports on a monthly basis.
This should narrow it down to what changes actually occurred and then you can figure out which caused the drop.
@Charmante IIRC the AAoA could be a scoring factor, I think it's in BM7's primer. I don't recall the exact thresholds. From Birdman7
General Scoring Primer and Version 8 Master Thread, pub.5.17.20
PenFed provides EQ9 scores. If you look closely, the actual date they provided it is February 9, 2021. I'm not sure when they actually SP your report to generate the score. Have you a PenFed EQ9 score that is more current?
You may want to get more up to date FICO scores, reports and review your accounts more in detail. Free or $1 you can obtain your 3 bureau FICO 8 scores and reports at Experian or CreditCheckTotal (part of Experian). Cancel in 7 day or less to avoid the re-occurring monthly charge. Wash, Rinse, and Repeat as needed.
AnnualCreditReport. Free weekly 3 bureau online reports through April 2021.
That 36-point drop on PenFed FICO doesn't seem unusual to me with opening as many as 6 new accounts in six months. That's an average of 6 points per account, and most profiles suffer at least a small penalty for new accounts. Thin and younger profiles would probably take a larger hit, IMO. Vantage scores are weighted differently from FICO, and some members have reported wide disparities such as yours. With all the new accounts, it's probably time to garden anyway and those scores will likely rebound as new accounts age and inquiries fade.
Just trying to figure out the missing puzzle piece, but is there any difference in the dates on the various scores? Besides the new accounts opening, did you have any older accounts fall off your report which further exaggerated your lower account age? Is that hugely-lower Vantage score across all three bureaus or just one? That would be an indication to further research that particular report to find if there are differences, or perhaps even an error which needs to be addressed.
@Charmante wrote:Things have been going great! Went from a Low 600's, into the Mid 700's -- established an $8,500 Discover, a $5,000 USAA Signature Visa, etc... Then VERY randomly ALL my scores just FLEW down... Into the High 500's and Low 600's... On FAKO's and FICO's both... (Slightly less in FICO's)... Absolutely NO new derogatory information OR high utilization...
The ONLY thing I can think of is a LOT of new accounts? 5-6 in 6 months and 8-9 in last year...
Balances all under 9% -- total utilization very low 3-6%...
Can this cause such a HUGE drop? From 700's to high 500's?
My profile is NOT clean. It has one Charged-Off (which falls off June) and a 90 Day Late from 2 Years Ago. Everything else is 100% Perfect.
That big a score drop is not from the new accounts, and any drops which occurred from that would have played out gradually throughout the year.
You need to go over your before and after reports with a fine tooth comb to find the real culprit(s).
