@IdPrincess03 wrote:
So I just got an alert that one for my creditors just reported on my credit report it dropped my score 10 points! I don't understand. They reported the account as paid but I lost points? Another account was reported as paid and I gained 10 points? What's going on? Is there somewhere I can call to get an answer why I lost points if I paid the debt?
Hi...this experience happens to many. Was this a charge-off that you paid? A collection account?
If so, FICO only sees the account. It can be paid or unpaid, and it will still count against you until time passes. It is my understanding that when you pay a derogatory account that the date of last activity may update to the date you made the payment. That may make the account look more recent, which can make you lose points.
No idea why one account may have lost you points and another gained you points. Also, keep in mind that when you get an alert, it is letting you know that something on your report changed. At that time it also calculates your new score. The change on your report and the change in score are often not related.
I once got a notice of my score going up. The "reason" given was that I had a new inquiry. Well...that defies gravity. The only way to tell what changed is to look line-by-line at your old report and your new one. For example, did your credit card utilization go up or down? Have you had any new inquiries? Many, many things could cause your scores to go up or down...don't depend too much on the "possible reason" given in your alert.
