Score watch drop

[atlastontheroad]

Yikes!  My scorewatch just dropped 10 points!

This month, I paid down to <50% UTl, had a collection deleted (it was an error, took me 2 months to get it resolved), increased my total open credit by 1k (thanks Cap1), had a late payment (recent) reversed and sent off MOV for Midland.

I don't think that the paydowns have posted yet, or wouldn't there have been  real increase?

The only thing new should be a $250 new CU visa that has yet to report. 

Could a new card reporting cause a 10 point drop?

atlast....

Message Edited by atlastontheroad on 03-27-2008 12:51 PM

[Junejer]

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@atlastontheroad wrote:

Yikes!  My scorewatch just dropped 10 points!

This month, I paid down to 50% UTl, had a collection deleted (it was an error, took me 2 months to get it resolved), increased my total open credit by 1k (thanks Cap1), had a late payment (recent) reversed and sent off MOV for Midland.

I don't think that the paydowns have posted yet, or wouldn't there have been  real increase?

The only thing new should be a $250 new CU visa that has yet to report. 

Could a new card reporting cause a 10 point drop?

atlast....

Message Edited by atlastontheroad on 03-27-2008 12:51 PM

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Check the details on the alert. What does it say?

[atlastontheroad]

Here's what the alert said (NO account was identified as having changed, as have been identified by alerts in the past month):

• There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
• You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.

So, I might have been "re-bucketed?"  That's good, no?

Message Edited by atlastontheroad on 03-27-2008 01:38 PM

[Junejer]

A re-bucket is good. That collection--was it your last one? Or did your oldest account have a birthday?

[atlastontheroad]

The collection was the NEWEST baddie.  And it was the only collection (Midland is reporting as an account, I disputed it with EQ by mail last Saturday).   It (the last collection that dropped) dropped immediately from EQ, sending a 30+ point increase last week.

Because it's before reporting of most of my balances by the CC's and because I have an active dispute I'm pretty sure that pulling a scorepower report would be a waste of money. 

Do correct me if I am wrong.  I'm accustomed to being wrong (grin)...

atlast

Message Edited by atlastontheroad on 03-27-2008 02:04 PM

[Junejer]

I am a bit confused on what you are saying. So, it was the only collection and it is now gone. That's a rebucket to people without a collection on their reports. However, is it just in dispute status or is it GONE?

[atlastontheroad]

It's gone.  Got the AUD number (automatic delete) from the CA last week. 

The other remaining baddie is Midland who is reporting to EQ as an account in the accounts section.  I DV'd midland and got an "undeliverable" to the address EQ supplied, mailed THAT dispute on Saturday. 

In the collections section, there are NONE. 

atlast

[Anonymous]

Mine dropped 7 pts today b/c my inq for the NFCU card finally posted. OOOUUUCH!

I seem to see a trend: the worse your score is to begin with, the more it is affected by new inq's. DH's is in the low 600's and he didn't have a change at all when his inq posted on MOonday.

[atlastontheroad]

So, I got the 10 points back this morning via Scorewatch.  No account identification.  Just the blurb about an improved account.

TU didn't see a score change (but I have open disputes with them, so I don't expect to see score changes until the disputes are resolved) but a new CU credit card is reporting as of today.

I'm holding my breath for the reporting of reductions in UTI (to less than 50% from some 85% two months ago) and chomping at the bit to pull reports.

The waiting is killing me.