Score keeps bouncing

Anonymous · ‎04-08-2016

I'm currently cruising towards a closing on a house and I keep seeing things like "the balance on one of your accounts has decreased by $31. -8".... all credit cards are below 10% utilization and have been for months now. No new credit, no credit lines closed. My credit continues to age and a couple lates from a few years ago keep getting older. 8 points is a fairly big drop. Mortgage company pulled the credit about a month ago and already took the licking for that so hopefully these drops don't affect my rates since I busted my rear to get into prime rate territory. I'm completely baffled by what is going on with something that has a massive jmpact on a person's life and compete and utter FM on how it works. My scores should be going up since I'm doing everything right.

Anonymous · ‎04-08-2016

A change of 8 points isn't really a big drop. Fico scores can change by that much from a gentle breeze if a file is relatively thin. Scores become more stable as a file thickens and ages.

Anonymous · ‎04-08-2016

The file isn't huge or super old but it's certainly not thin. When the only thing that's happened is the balance on a credit card drops and the score drops it doesn't make any sense what so ever.

NRB525 · ‎04-08-2016

@Anonymous wrote:
The file isn't huge or super old but it's certainly not thin. When the only thing that's happened is the balance on a credit card drops and the score drops it doesn't make any sense what so ever.

If you have lates, however, that can cause the score to be less stable than if no lates. It is a common comment here, unexplainable score changes on files with baddies of various kinds.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎04-25-2016

And again this month.... The credit card companies report... I get the alert on the "total balances of all bankcards" which is lower than last month's summary and my score drop is tagged with that one. I am certainly going to drop this service after we close on the new place... I don't need this stress!