Please explain why I seem to be going backwards.

[Anonymous]

Yesterday, I got an alert stating that my FICO score had changed. Sure enough, Equifax showed a 13 point decrease in my Score due to a balance increase. Well, that information was wrong. It was in relation to a Line of Credit that I have with my Credit Union. As a matter of fact, the balance had decreased by a substantial amount Vs what was being reported. Also, I paid off two auto loans totaling over $27K, same Credit Union and that did not seem to make a dent in my Score. I am totally frustrated over this scoring thing as nothing I do seems to make a difference. Matter of fact, seems like the more I do to try and improve the Score, the more it goes down. What gives?

[Tuscani]

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Helijock wrote:
Yesterday, I got an alert stating that my FICO score had changed. Sure enough, Equifax showed a 13 point decrease in my Score due to a balance increase. Well, that information was wrong. It was in relation to a Line of Credit that I have with my Credit Union. As a matter of fact, the balance had decreased by a substantial amount Vs what was being reported. Also, I paid off two auto loans totaling over $27K, same Credit Union and that did not seem to make a dent in my Score. I am totally frustrated over this scoring thing as nothing I do seems to make a difference. Matter of fact, seems like the more I do to try and improve the Score, the more it goes down. What gives?

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Don't fret. Are you sure no other balances increased? Are your paid auto loans now closed? If so, you lost that age which can bring your score down in the short term.

[Anonymous]

The scoring system is sorta strange, sometimes when you pay things off it drops for a period then you will see increase. Please let us know if it goes up within a few weeks.

[Anonymous]

HeliJock,

Please read my post on "Why is my credit scoring falllng"..I feel like I am in same boat..

[Anonymous]

Some balances are scored differently I think. However, if you stated this information is wrong, contact the credit union right away to have this corrected. Incorrect data is usually easily corrected and reflected in 30 days. If corrected and score does not come back, check to see if old data dropped off your credit report that was helping your score.