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Status Improved Score Went Down!

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Contributor

Status Improved Score Went Down!

One of my credit card accounts went from 30 days late to current, previously behind...and Experian score when down 5 points.  

 

**bleep**

 

*shakes head*  *facepalm*

Message 1 of 8
7 REPLIES 7
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Super Contributor

Re: Status Improved Score Went Down!

Sorry to hear that. To clarify, the account was recently 30-days late?

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
Message 2 of 8
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Super Contributor

Re: Status Improved Score Went Down!

I suspect the drop in scores had nothing to do with the 30 day late but just normal differences in UTL, cards reporting balances or something to the effect with such a minor scoring change (5) points 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 8
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Established Contributor

Re: Status Improved Score Went Down!


@matolen wrote:

One of my credit card accounts went from 30 days late to current, previously behind...and Experian score when down 5 points.  

 

**bleep**

 

*shakes head*  *facepalm*


Not enough info. Do you still have the 30-Day Late on your report but simply become up-to-date in your payments? When you became up-to-date in your payment did you pay the account off in full? If so, did any of your accounts report a balance during that cycle?

796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
Message 4 of 8
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Contributor

Re: Status Improved Score Went Down!

The fico report lists it as the following:  Current, was past due.

 

I did not pay the account in full, but I lowered the utility to about 50%  I had other accounts reporting a balance during that cycle, yes.

Message 5 of 8
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Established Contributor

Re: Status Improved Score Went Down!


@matolen wrote:

The fico report lists it as the following:  Current, was past due.

 

I did not pay the account in full, but I lowered the utility to about 50%  I had other accounts reporting a balance during that cycle, yes.


Ok, so, yes, you still have the 30-Day in question on your report - thus the sting from that is still around (whatever sting it has left, soft or strong, won't differ much between 30 days unless it went over the 2 year mark). So let's say bringing the account current should have at least given you some positive points (I doubt many).

 

Next, the account is still well over suggested UTIL, don't know what you brought it down from, but I'm not seeing a huge increase here either unless you were in the 90's UTIL.

 

So let's say at this point we are about nuetral/a little positive in what you've done. What else occured - did your UTIL raise on any other TL's? did you get a hard pull? what else?

 

Also, it is just 5 points, it could have been the way FICO rebooted their servers that night...it's inconsequential.

796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
Message 6 of 8
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Contributor

Re: Status Improved Score Went Down!

Gotcha.  I am not overly concerned, and I do not think that this is going to last and will likely swing up next cycle point wise.  I was just unpleasantly surprised.

Message 7 of 8
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Super Contributor

Re: Status Improved Score Went Down!


@matolen wrote:

The fico report lists it as the following:  Current, was past due.

 

I did not pay the account in full, but I lowered the utility to about 50%  I had other accounts reporting a balance during that cycle, yes.


There's your 5 point difference 

Just regular monthly changes 

 

Remember Fico is only a snapshot of that moment when its viewed ....could change the next day +/-

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 8
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