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Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

Valued Member

Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

I have paid down or off all my debts.  To be clear, I am following all the protocols I have learned from here (AZEO, <8.9% on installment and util, etc).

 

Now... I refreshed my reports today (12/6) and had everything I expected to see, except TU hadn't updated my report with the latest lease balance.  I only have $318 left to pay from an original $18100 installment (so 2%, BUT NOT 0).  Literally an hour later, I get an alert from My Fico that TU reported the balance update on my auto loan, and my score dropped 11 points.  WTH?! Now, it gets weirder.. even though I got the alert today, an hour after my refresh.. the alert is actually dated YESTERDAY 12/5..

 

Someone, please explain this.. and dear god I hope I am not bucketed for TU (EQ and EX did not change), and I am just hoping this is a timing issue with the alerts and whatever my score could have been yesterday (I am finishing a rescore process for a mortgage, so there could have been things on the report yesterday that are no longer on there today). 

 

I am getting a refresh on the TU report tomorrow, so I will know for sure.. but until then.. PLEASE HELP.  If it is a legit score decrease, do you think it will also impact my mortgage score? I don't care about FICO 8.. just FICO 4.  Thank you!

Dec-2018 EQ-714 TU-688 EX-695
UTIL: 2%
BK: 2013 Rebuilding after BK, 11 Revolving CC's (18k total credit), 1 car lease w/ 1 payment left, getting ready to buy a house GOAL: 725+
7 REPLIES
Community Leader
Super Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

It's a bad use of your time to worry and other people's time to speculate -- because tomorrow you will know for sure, as you say.  You mention that many things are changing on your reports.

 

Watch a movie, go to the gym, do whaetver you need to do to relax.  Get some sleep and deal with it tomorrow.

 

Message 2 of 8
Super Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

I think we can all agree that paying down an auto loan to 2% isn't going to cause a score decrease.

 

That being said, this seems to be a classic case of the alert you received having nothing to do with your score change provided at the time.  The question then is what caused the score decrease.  The only think you can do is compare your before/after reports to look for what else changed.

Message 3 of 8
Valued Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

I think CG/BBB are right. WIth you getting an update, you are going to find out the legitimacy of the score almost immediately. Something else may have changed and you'll need to compare reports as BBB noted. Paying your loan down to 2% should not have done this. Take a breath and start with a new day and see how things pan out. Best of luck to you!
                                 

Total Credit: $218,900Credit Utilization: 1%AAoA: 5 years, 5 monthsInstallments: Car Lease, Marcus LoanNegatives: 0


                                                                                              
                      DSC-27.1K | NFC-25K | ALI-25k | WAL-10k | BoA-22k | BB-12k | NFL-15k | LOW-35k | AMX-19.3k | CHA-10k | PF-8.8k | C-DC-9.7k
Message 4 of 8
Super Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY


@AI_JMV wrote:

I have paid down or off all my debts.  To be clear, I am following all the protocols I have learned from here (AZEO, <8.9% on installment and util, etc).

 

Now... I refreshed my reports today (12/6) and had everything I expected to see, except TU hadn't updated my report with the latest lease balance.  I only have $318 left to pay from an original $18100 installment (so 2%, BUT NOT 0).  Literally an hour later, I get an alert from My Fico that TU reported the balance update on my auto loan, and my score dropped 11 points.  WTH?! Now, it gets weirder.. even though I got the alert today, an hour after my refresh.. the alert is actually dated YESTERDAY 12/5..

 

Someone, please explain this.. and dear god I hope I am not bucketed for TU (EQ and EX did not change), and I am just hoping this is a timing issue with the alerts and whatever my score could have been yesterday (I am finishing a rescore process for a mortgage, so there could have been things on the report yesterday that are no longer on there today). 

 

I am getting a refresh on the TU report tomorrow, so I will know for sure.. but until then.. PLEASE HELP.  If it is a legit score decrease, do you think it will also impact my mortgage score? I don't care about FICO 8.. just FICO 4.  Thank you!


Paying down the auto lease had nothing to do with the score decrease.


FICO8 EQ 755 TU 776 EX 746 Total revolving limits 643900 (533900 reporting)
Message 5 of 8
Valued Member

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

Update:  After the refresh, my score did indeed change because of the car loan balance being paid down.... it went up 5 points. The alert that came in must have been indicating a score shift from an old score that had come in with the alert, and it just became a timing issue. Crisis averted lol.  There was a 5+ increase to 8, but not change to 4, which is just fine with me.. bring on the mortgage! lol 

 

Thanks everyone.. the take away from here is that even a score increase or decrease alert may be completely invalid given timing issues. 

Dec-2018 EQ-714 TU-688 EX-695
UTIL: 2%
BK: 2013 Rebuilding after BK, 11 Revolving CC's (18k total credit), 1 car lease w/ 1 payment left, getting ready to buy a house GOAL: 725+
Message 6 of 8
Valued Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY

That's more like it.

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 7 of 8
Super Contributor

Re: Paid down all but 2% of my Auto lease, and got an alter that TU went down 11 points... OMG WHY


@AI_JMV wrote:

 

Thanks everyone.. the take away from here is that even a score increase or decrease alert may be completely invalid given timing issues. 


Yup.  It's great that you now understand this.  There are tons of people that are misguided by alerts and the score changes that are provided at the time of the alert as being connected when many times they aren't.

Message 8 of 8