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SCORE DROPPED 17 points?

rchvmz
Regular Contributor

SCORE DROPPED 17 points?

My EQ went from 703 to 686. None of the others decreased, YET----I closed 2 AF cards, Credit 1 and First Access after getting better no AF cards. Cap 1 and Mercury--both 4k SL. My 13 BK was discharged 12/21. Current Fico 8 scores---EQ 686  TU 660   EX 680. I have my CRA's frozen, my total credit line with 8 cards and one Share loan with Penfed is 20k. My utilization is 3% all cards/share loan are on time. 

 

Will my EQ score go back up after a few months like regular files do, or will the BK keep it from going back up. 

Message 1 of 10
9 REPLIES 9
DJRobbieD
Regular Contributor

Re: SCORE DROPPED 17 points?

Your average age of accounts probably took a hit after you closed two cards. That'll recover in time. 

 

Disregard, I was wrong


TCL: $395.6k
Message 2 of 10
mgood
Established Contributor

Re: SCORE DROPPED 17 points?

You're better off in the long run since you've shed those particular cards. Just accept the short-term hit and move onwards and upwards. The points will come back.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 734, TU8 736, EX8 736
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
Message 3 of 10
FireMedic1
Super Contributor

Re: SCORE DROPPED 17 points?

Did you go from 6 to 2 cards if I read it correctly? Below 3 cards could be why.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 4 of 10
FireMedic1
Super Contributor

Re: SCORE DROPPED 17 points?


@DJRobbieD wrote:

Your average age of accounts probably took a hit after you closed two cards. That'll recover in time. 


AAoA's isnt affected by closed cards in FICO. Counts open and closed. Once the closed cards age off at 10yrs or sooner. Then that effects AAoA's.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 5 of 10
rchvmz
Regular Contributor

Re: SCORE DROPPED 17 points?


@FireMedic1 wrote:

Did you go from 6 to 2 cards if I read it correctly? Below 3 cards could be why.


No, I had 11 cards..actaually closed 3 AF cards, two, credit1(400 cl) and 1st access(400 cl)have shown up closed. The 3rd, Indigo (300 cl) has not shown up closed yet. I closed them when I got Cap 1 and Mercury, both no AF and both 4k SL. Both of them has shown up as neww accounts. Equifax has been the only CRA effected as of today. I have 9 active cards. 

Message 6 of 10
rchvmz
Regular Contributor

Re: SCORE DROPPED 17 points?


@FireMedic1 wrote:

@DJRobbieD wrote:

Your average age of accounts probably took a hit after you closed two cards. That'll recover in time. 


AAoA's isnt affected by closed cards in FICO. Counts open and closed. Once the closed cards age off at 10yrs or sooner. Then that effects AAoA's.


The strangest thing just happened. 

 

I just got an alert from the FICO app. Logged in and my Equifax score was updated, back to 703. The 17 points were added back. It says, that one closed account balance went to 0. So it went down 17 points this morning and back up 17 point just now?...thats wild. Have you seen that before, as I know you been here a good long while

Message 7 of 10
FireMedic1
Super Contributor

Re: SCORE DROPPED 17 points?

As I said in another thread. MF alerts are whacky at times. Ive had a AZEO card report a high balance. Oh your balance went up by this much. 0 points. Then a couple days later. Oh theres the ding. Point loss. Then back down to usual <8% next month. Your balance went down by this much. Days later my score went up to where it was. So 4 alerts for 2 movements. Smiley Very Happy





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 8 of 10
mgood
Established Contributor

Re: SCORE DROPPED 17 points?


@FireMedic1 wrote:

As I said in another thread. MF alerts are whacky at times. Ive had a AZEO card report a high balance. Oh your balance went up by this much. 0 points. Then a couple days later. Oh theres the ding. Point loss. Then back down to usual <8% next month. Your balance went down by this much. Days later my score went up to where it was. So 4 alerts for 2 movements. Smiley Very Happy


YES! The good and bad things they report to you in the alerts do NOT necessarily coincide with the change in the scores.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 734, TU8 736, EX8 736
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
Message 9 of 10
rchvmz
Regular Contributor

Re: SCORE DROPPED 17 points?

So the same thing just happened----EQ went down exactly 17pts AGAIN after AMEX updated the BK discharged on another card--this is weird stuff. 

 

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