Major Score Change

[Anonymous]

My Experian Fico Score dropped 100 Points!! Nothing in my credit file should have caused this. I have never been late on any current bill, ever! I always pay all due bill online and before they are due. I have reports on my credit profile that shows late payments. There are major things that are just not so and I am at a complete loss as to how these things are showing up on my credit profile and causing a major disruption in my life. My scores at month ago were; Trans Union-661, Equifax-679, Experian-692. When I checked today (08-10-2008), the scores were Trans-Union-618, Equifax-644, Experian-592! Those are indeed major changes, yet I have paid all bills on time, reduced all credit card debts and yet this is what happens. I am beginning to believe that this is all but a joke! How can one ever get ahead when this sort of thing is allowed to happen with such irregularity! Guess the rich do get richer and poor and common do stay where they are by design.

[Anonymous]

Pull your current CRs, directly from CRA is best. Use TC if you like also.

Put your current CRs up against your older CRs. There has to be some changes for those score levels.

I you had been at 750 and dropped to 720, that might be rebucketing. Your drops are from below average to 'not good'. There has to be some serious derogs on there.

Oh big NOTE, make sure those are FICO scores, not TC scores or any other non-FICOs.

Message Edited by gordonbs on 08-10-2008 02:16 PM

[Anonymous]

There is currently a known issue with phantom lates. This should be resolved soon.

Nevertheless, you should pull and analyze your CR to make sure this isn't a case of identity theft or someone else's file merged with yours.

[Anonymous]

From what source are you pulling your reports? If from TrueCredit, totally disregard! My scores on TC are nowhere close to my scores at the actual CRA's. Also, my TC scores just go up and down (more down), when they're constantly rising elsewhere!

Message Edited by ssstevie on 08-12-2008 10:15 AM

[AtlantaBelle]

ssstevie, I'm so glad you said that. I looked at the TC scores and had a heart attack. According to them my TU score went from a 709 to 644. And Experian went from 683 to 597. Equifax stayed about the same, oddly enough, at TC reporting 641 instead of FICO's 663. 20 points was my giddy moment. I can call 911 back and tell them never mind now.

[BlueBayou]

I too have the same problem ---  This month Experians (Fako) reports a 100 point loss --

It is reporting a late "0" months ago on a 2001 Capital One ChargeOff.

Not gonna pull Experian Fico yet, as I have the same problem with Equifax Fico reporting back in April 08 and they still have not fixed it.  It says I have a late "3" months ago on the same Capital One account.    I'm sick and tired of disputing it, trying to get them to correct the reporting. 

NewWorldMan, is there discussion elsewhere regarding these phantom lates???

Message Edited by BlueBayou on 08-15-2008 08:12 AM

[Anonymous]

I submitted a post on 8-10-2008 in regards to my score with Experian dropping 100 points with no major derogs on my report. I contacted MyFico support and was informed that an entry by Verizon Wireless was posted on my credit file as a "charge off" for $138.00! I was in dispute with Verizon over this but they posted it anyway. Secondly, I paid off two large car loans, brought credit card debts down to less than 30% of available credit and score changed maybe 11 points after all of this. It took me over three years to build my scores up to where they were and for $138, a drop of 100 points!! Something is seriously wrong with the way the scoring works. I am now a firm believer that there is definitely two tiers of credit profiles on consumers. First one is what I call "prime gap" and it is those with scores above 700. Second group is what I term as "sub-prime gap" and it is for those with score below 700. I am not convinced more than ever that the credit system is seriously flawed and consumer confidence in the system is declining rapidly, despite new laws and regulations. I see now that he scoring model is higly unpredictable and designed to keep on in the 60% sub-prime bracket. Scores are brought down rapidly if a minor mistake is made and you are in that sub-prime area. Just look at what happened to me, a drop from 692 to 592 for a $138 dispute which was shown as a charge off! All other accounts, and there are 27 of them are all paid on time with never a late! And these accounts are for fair sums of money. Something is seriously wrong here. I am beginning to believe that the system is designed to keep one in the most competitive and profitable market for creditors, nothing else! And what is the most profitable area? Those with low credit scores of course! Now I have to go thru the same drill again to try to bring the scores back up and it took me over three years to get them where they were. What a shame one has to deal with this sort of thing. What ever happened to judging a person by their past payment history, character and ability to pay, not by some magic number that has no way of knowing anything about a person at all!

[jbh]

"There is currently a known issue with phantom lates. This should be resolved soon."

Um....what?

(hides in fear of these)

Thanks