SCORE DROPS 140 pts!!!!!

[runNL8]

I have a WaMu visa with FREE score monitoring for 12mo that only shows my TU score. I received a score change alert today. Last time I checked it 3 days ago, my TU was 728 and it was like that for Oct, Nov, Dec. Well today it says my TU is 588!!! 

I applied for a Best Buy store card and MC and was approved for both at the same time. This was back in Dec right after Xmas. That was the only apps I have done and my Utl actually went down when I added these cards, from 54% to 32%.

I know this is not a FICO but it was always close to what my FICO was when I ordered it. Anyone know what is going on, I think WaMu's info is BS and there just trying to get me frazzled up to buy there full blown version of credit monitoring. How is it possible for my score to drop 140pts from 1 credit app and lowering my Utl????

[frugal]

that is pretty ironic runNL8, because Wamu stated that mine dropped 30 pts today and I have not applied for anything.  I pull my 3 reports every month, and all 3 scores went up when I pulled them 2 days ago.  It has to be some kind of weird formualtion on Wamu's part because I reduced my entire Revolving payments by 75% for January's scores.

Wamu's score were never close to any of my EX, TU or EQ that I get from MyFico. Even when I was with TrueCredit, the TU score was different there from the TU score ordered here.  It would be nice if all posted the same Credit Score.

I would trust the scores that are presented here than Wamu, but that IMHO.

Message Edited by frugal on 01-18-2009 07:55 AM

[runNL8]

Yeah I find it hard to believe my score would drop 140pts from just a 1 credit app.

[llecs]

Try pulling your TU report directly from TU to look for any changes, etc. Or pull from myFICO to see your actual score to compare it to PFICO.

Remember, PFICO isn't the same as a FICO score. It is CC enhanced. Another one is the Transrisk score that Juniper offers via TU as well. My Transrisk score is as much as 275 points lower than my FICO score if pulled on the same day.

[runNL8]

I just pulled my free report from ACR and ordered my score. They show a 710 score. Everything else looks normal with the only change being the 2 Best Buy CC's reporting now.

[llecs]

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runNL8 wrote:
I just pulled my free report from ACR and ordered my score. They show a 710 score. Everything else looks normal with the only change being the 2 Best Buy CC's reporting now.

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If you ordered any scores via ACR, just remember that the ones from TU and EX are not FICO scores.

I can't speak to FAKO scoring, but maybe the new CCs tanked your PFICO. In FICO scoring, I've had 20-25 point drops by adding new CCs. Since PFICO is CC-enhanced, the new credit could possibly ding you more.

[runNL8]

Would it be more accurate if I orderd my scores from here (myFICO) ?

[llecs]

Yep. The only place to get your TU FICO score is via here or through transunioncs.com (note the ~cs). You can get EQ through here or directly via EQ (they partnered with FICO) or through your free report with ACR for EQ only. You can get EX through here or through PA State Employees CU (if a member). There might be a couple other sources out there for you EX as FICO is partnering with a few CUs. Finally, this is the only place on the web you can get all 3 FICO scores together.

ETA: while I am not allowed to tell you what they are, be sure to google "myfico discount codes". Seems too theres a code at the start of the login page.

Message Edited by llecs on 01-18-2009 12:44 PM

[runNL8]

llecs - Thanks for advising!!!!