This doesnt make sense at all -- Equifax drops 20

[Anonymous]

I know this has been discussed in the past regarding how score changes do not correlate directly with alerts.. But I can't understand for the life of me why this just happened.. I have the MyFico 3B monitoring.. I just refreshed my reports I have no negatives on my report at all..  I just paid for a new pull of 3 reports on 6/29.  As expected, my score did not change over what monitoring was saying - and my simulator values updated accordingly. Over the past several months, I have made significant reductions in my utilization, which is the only thing that was hurting my score.

Since the 29th, this is what happened -- all on Equifax. No changes on TU or Experian -- but the same account changes were alerted with no score changes for them:

6/29/2015 Equifax 713 (+2):

Your FICO score has increased from 711 to 713

6/30/2015 Equifax 706 (-7):

The balance on one of your accounts has decreased by $79 / The balance on one of your accounts has decreased by 100%

7/2/2015 Equifax 705 (-1):

The balance on one of your accounts has decreased by $1491 / The balance on one of your accounts has decreased by 22%

7/3/2015 Equifax 704 (-1):

A new account has been added to your credit report (NMAC Auto Lease, 36M, Pays as agreed, first reported 6/1/2015)

7/4/2015 Equifax 704 (0):

The balance on one of your accounts has decreased by $22  

7/5/2015 Equifax 684 (-20):

An account listed on your credit report has been updated (Ford Motor Credit, Auto Lease, Closed or Paid Account, Pays as agreed, Balance $4715 to $0)

Any ideas what could have caused this?  Also, while my TU and Experian have either stayed the same in reponse to balance reductions, or gone up by 1 point at a time, Equifax is dropping and I dont know why.

Thanks

[NRB525]

Equifax can report earlier than the others. The 7/5 report only just showed today. TU can be two days later, then "Oh by the way, you had a change on 7/5" that they'll provide. The other alerts, it is possible the threshholds were not met for a report trigger. Just a theory. Delay in some of these is most likely the difference.

Most likely you have a bunch of accounts going to zero balances. particularly the auto term loan going to zero, that could be the whopper.

How many accounts do you have? What are the latest reported statement balances that went to the bureaus and are still counting? How many of them are now zero balances reported to the bureaus.

[Anonymous]

Auto loan was closed. By doing that your mixed credit is gone that is why you lost points. Dumb I know.

[Anonymous]

Mixed credit counts for 10%. Have you noticed a lot of people who pay off loans see a score drop?

[Anonymous]

Sure -- that one was closed and paid off. But the new one went on. Not sure if that explains anything

[Anonymous]

Nope it's because of the paid off account.

[NRB525]

---

@Anonymous wrote:
Sure -- that one was closed and paid off. But the new one went on. Not sure if that explains anything

---

The new one going on will help you in the long run, but not when it first reports. It takes a while for such a new loan to help your scores again.

[jamie123]

---

@Anonymous wrote:
Sure -- that one was closed and paid off. But the new one went on. Not sure if that explains anything

---

Your well aged auto installment loan closed. FICO gives you points for having an open installment loan on your reports. As the loan ages and you get to about 50% payoff you gain more points. Those are the points that you lost when the loan closed.

You will get them back as the new loan ages.

[Anonymous]

So, paying off an auto loan will drop an Equifax 20 points? Am I understanding you correctly? Why does that defy logic in my mind?

[NRB525]

---

@Anonymous wrote:
So, paying off an auto loan will drop an Equifax 20 points? Am I understanding you correctly? Why does that defy logic in my mind?

---

lol

Because you didn't see those 20 points (or some near amount) increasing on your score as the prior auto loan aged. When they go away, yeah, I saw that one