My credit score dropped 31 points and they refused to give me a reason why.

[Anonymous]

A few months ago I got and email notice from my credit card that my credit score (from TransUnion) had changed.  I checked it and it had dropped 31 points!  However, nothing in my credit reports (all 3) has changed in almost 2 years.  I tried to get an answer from TransUnion as to why my score dropped 31 points but they would not answer my emails or letters and when I called, the guy just said "I don't know".

The only thing that changed was listed under, "To improve your score the following areas should be addressed:"

1. Too many bankcard accounts (Reason 52). - THIS was the new one added when the score changed.  However, I have not added any bankcards (or anything else) in almost 2 years and this "Reason" was not previously on any of my credit reports or scores.

2. No Adverse Factor (Reason 00)

3. Revolving account balances are too high in proportion to credit limits. (Reason 31)  This reason has been on my report for a long time, however, I ALWAYS pay off ALL of my credirt cards (ALL bills) each month.  So, this reason is incorrect too.

Can they change a credit score for no reason?

[haulingthescoreup]

Welcome to the forums!

This is a FAKO score, not a FICO score.

No telling how they score your credit report to come up with their numbers.

[haulingthescoreup]

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@Anonymous wrote:

A few months ago I got and email notice from my credit card that my credit score (from TransUnion) had changed.  I checked it and it had dropped 31 points!  However, nothing in my credit reports (all 3) has changed in almost 2 years.  I tried to get an answer from TransUnion as to why my score dropped 31 points but they would not answer my emails or letters and when I called, the guy just said "I don't know".

The only thing that changed was listed under, "To improve your score the following areas should be addressed:"

1. Too many bankcard accounts (Reason 52). - THIS was the new one added when the score changed.  However, I have not added any bankcards (or anything else) in almost 2 years and this "Reason" was not previously on any of my credit reports or scores.

2. No Adverse Factor (Reason 00)

3. Revolving account balances are too high in proportion to credit limits. (Reason 31)  This reason has been on my report for a long time, however, I ALWAYS pay off ALL of my credirt cards (ALL bills) each month.  So, this reason is incorrect too.

Can they change a credit score for no reason?

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Sorry, I hit "post" too soon.

Even though this is a FAKO score and the factors are NOT safe ones to follow, let me address #3.

Your creditors almost all report the balance due on your statements to the credit bureaus. Since they choose to report this figure, rather than the amount due as of the due date, for instance, it can make it look as if you're carrying a lot of debt, even when you're not (for instance, by paying in full when you get your statement.)

This can affect your FICO scores as well. One way around this is to pay off all but one of your CC's a few days before each one is due to post a new statement. That will result in them reporting $0 balances. (Let one report a small balance for best FICO score results.)

[llecs]

I may be wrong, but it looks like the FAKO is the CC-enhanced TransRisk score from Barclays. If so, that score is wacked. My real TU FICO is in the siggy below, but my TransRisk is at 521 as of today. That's a 168 point difference!!

[haulingthescoreup]

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@llecs wrote:

I may be wrong, but it looks like the FAKO is the CC-enhanced TransRisk score from Barclays. If so, that score is wacked. My real TU FICO is in the siggy below, but my TransRisk is at 521 as of today. That's a 168 point difference!!

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Whoops, good catch! I didn't put together the bit about the score coming from a credit card, rather than a monitoring service.

* goes for more coffee *

[Anonymous]

Thank you.  That  helps a lot.  I will get my FICO scores and ignor the TransRisk B.S.

It still doesn't sit well with me that my requests for an explaination were ignored by a compnay that is "Supposed" to be doing a job I paid them to do!!!

If TransRisk scores and the other ones out there are just B.S. why are they allowed to sell people FAKE scores?  That should be illegal.  Otherwise, anybody could start up a business and say the would sell you your "Credit Score".

[MattH]

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@Anonymous wrote:

Thank you.  That  helps a lot.  I will get my FICO scores and ignor the TransRisk B.S.

It still doesn't sit well with me that my requests for an explaination were ignored by a compnay that is "Supposed" to be doing a job I paid them to do!!!

If TransRisk scores and the other ones out there are just B.S. why are they allowed to sell people FAKE scores?  That should be illegal.  Otherwise, anybody could start up a business and say they would sell you your "Credit Score".

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Anbody can start up a business and sell you something called a credit score, which is basically how we have so many flavors of FAKO score and so much deceptive marketing of scores. From time to time the government does enact new rules intended to help consumers, for instance see the Bankrate article below:

http://www.bankrate.com/financing/credit-cards/overlap-of-rules-to-spread-scores/

However, companies can devise new gimmicks a lot faster than politicians and regulators can write new rules, so even if most politicians really cared about protecting consumers the rules would lag behind the marketplace -- and do you believe the majority of politicians really care about protecting consumers in this age of record spending by business lobbyists?