Score drops 20 points after paying 19$ balance on discover!

[GApeachy]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

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It was NOT "a reason for the drop".

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I think at this point in time this whole alert being the "reason" for a score drop has got to be the #1 misconception on this forum.

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Yes, and I'm getting a little tired of doing MyFICO's work.

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MyFico just needs to list each item independently.  This lumping of alerts will continue the ?'s.

[SouthJamaica]

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@GApeachy wrote:

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@SouthJamaica wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

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It was NOT "a reason for the drop".

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I think at this point in time this whole alert being the "reason" for a score drop has got to be the #1 misconception on this forum.

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Yes, and I'm getting a little tired of doing MyFICO's work.

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MyFico just needs to list each item independently.  This lumping of alerts will continue the ?'s.

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Yes if they sent a separate score change alert that would solve the problem.

Or if they just made it clear that the score change is not necessarily related to the alert substance that would be fine.

I'm starting to think they are doing this deliberately, to make people think the alerts are giving them information into why their scores changed.

[GApeachy]

I received 3 alerts (TU) on the same day.  The confusion is with each alert shows the arrow increase/decrease icon with each alert.  It's only necessary to show the one increase/decrease score alert and remove that up and down "increase/decrease arrow" from all the rest of the alerts provided on the same pull that same day.

When I first signed up for MyFico I thought I lost and/or gained x number of points with each alert.  So it's just confusing whether they add the verbiage or not.

Only one "up/down score arrow"  on the actual Score Alert itself is suffice.  Any other alert need not have the "up/down" score icon added.

[Anonymous]

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@SouthJamaica wrote:

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Yes, and I'm getting a little tired of doing MyFICO's work.

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Especially when we had a thread in the product feedback section about this very issue, it was seen by the powers that be and we were told that a solution was in the works.  I don't understand how it can take nearly 6 months to get this minor tweak done, so IMO ultimately the suggestion was ignored.

[Anonymous]

Do they really send alerts for a $2 difference? The only time I get alerts from EX or CK is when I get a HP, a CLD/CLI, P/O, or a significant balance change. Maybe due to my settings. 

[Anonymous]

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@Anonymous wrote:

Do they really send alerts for a $2 difference? The only time I get alerts from EX or CK is when I get a HP, a CLD/CLI, P/O, or a significant balance change. Maybe due to my settings. 

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On myFico it did because I had a balance that was paid off and the next statement was issued. The statement balance was $2 in June and then the next month my July statement balance was $0. Amex reports every monthly statement. 

[Anonymous]

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@Anonymous wrote:

Do they really send alerts for a $2 difference? The only time I get alerts from EX or CK is when I get a HP, a CLD/CLI, P/O, or a significant balance change. Maybe due to my settings. 

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Dollar values most of the time aren't relevant.  The alert is simply because a new balance was reported.  Whether it's $1 or $10,000 doesn't really matter, as the alert reason is just because a balance change constitutes a credit report change.

[Anonymous]

Post 24 by bjbsav is a negative reason code and it does indicate a no revolving balance penalty.

First he referenced a score change alert. His next post said that he went to the next alert which was the negative reason codes from TU, which ARE meaningful. Just wanted to clear that up.

Also to add about retail cards being the AZEO card, some retail cards will give you SOME points back but not all of the points back. So as BBS stated it’s always best to use a national bank card.

[Anonymous]

Just add to the discussion and make sure that everyone has the full picture my only balance is on a store card and the only reason there is a balance is because of 0% finance. The $2 on the other card was because of a itune charge that happened the day of closing. 

The other factor is that I did get a new card from Chase in the last couple of months which might have an effect. 

I don't know if having a zero balance had anything to do with the point drop or not. 

[Anonymous]

Bjbsav OK whenever the chase card reports it will affect AAOA and AoYA, which can affect score.

However if you only had a balance on that retail card, there’s a good possibility you were experiencing a partial no revolving balance penalty.

Retail cards are unpredictable. For instance, I did some tests and have some threads were when I had a balance only on a retail card, I suffered a partial penalty, but not my full normal no revolving balance penalty.

There’s no way to be 100% certain except to repeat it and reverse it, but there’s a good chance that’s what occurred to you. When you post another balance, if you get the exact number of points back, most likely that’s what it was.