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MY EQ decreased 1

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Established Contributor

MY EQ decreased 1

due to a 10% reduction on my DCU CC balance from $5k to $4.5k - dont get it...

Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

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Moderator Emeritus

Re: MY EQ decreased 1


@NYFan63 wrote:

due to a 10% reduction on my DCU CC balance from $5k to $4.5k - dont get it...


First, if you worry over 1 point drops up or down in your scores, you'll drive yourself crazy.  Focus on the bigger picture and that's what is in your credit file, not necessarily your score.  They go up and down periodicially.

 

Second, when you receive an alert from MyFico about a drop or rise in your score, the reason for the change in your score is more than likely not related to the alert.  There is a small list of items (see link).  Any time when one of these events occur you will receive an alert.  Correspondingly they will show one of 3 things; no score change, score higher or score lower.  The score change is not necessarily connected to the alert event.  Your score changes very frequently go up and down on many factors that will never be revealed entriely because it's proprietary information for Fico.  If every time your score changes you were alerted, you would be bombarded with alerts and it would cause even more confusion.

 

Instead, they have chosen to limit these alert to specific events but this also can cause confusion because people think incorrectly that the alert even and score change are tied together.  More often than not, that's not the case.  That's why you will see alerts for seemingly contradictory reasons, like a score rise for an inquiry or a score dropping from a decreased balance.

 

I hope this helps.

 

http://myfico.custhelp.com/app/answers/detail/a_id/463/session/L3RpbWUvMTQyNTU4NDQ3MS9zaWQvenJPbU96Z...

Message 2 of 4
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Established Contributor

Re: MY EQ decreased 1

Thanks IRISH - that makes more sense - I rwally dont worry over every FICO score increase or decrease. It just seemed odd
Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 3 of 4
Highlighted
Moderator Emeritus

Re: MY EQ decreased 1


@NYFan63 wrote:
Thanks IRISH - that makes more sense - I rwally dont worry over every FICO score increase or decrease. It just seemed odd

You're welcome.  You're not the first person to ask a similar question and wont be the last.

Message 4 of 4
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