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Ticked off and mad about it.

Tiersha
Member

Ticked off and mad about it.

I had, yeah freaking had, low-mid 700 range and in the process of a refi.  My cards are now reflected as AZEO.  I had one bad mark on my credit which was paid but now it has been removed.  Upon it being removed my score dumped 78 freaking points, absolutely killing my refi.

 

I have an excellent mix of credit and yr n half of no late payments...what in the actual hell happened here?  78 points damned near made me cry.

Message 1 of 12
11 REPLIES 11
thornback
Senior Contributor

Re: Ticked off and mad about it.


@Tiersha wrote:

I had, yeah freaking had, low-mid 700 range and in the process of a refi.  My cards are now reflected as AZEO.  I had one bad mark on my credit which was paid but now it has been removed.  Upon it being removed my score dumped 78 freaking points, absolutely killing my refi.

 

I have an excellent mix of credit and yr n half of no late payments...what in the actual hell happened here?  78 points damned near made me cry.


Hi and welcome to the forums. 

 

Really sorry for your score drop. We would need more info to determine the cause.  

 

Just want to confirm you are referring to FICO scores, and if so which FICO scoring model (FICO 8, 5, 4, 2, etc)? 

 

What type of negative was removed (collection, chargeoff)?  If a chargeoff, how old was it / was it your oldest account? 

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 12
Remedios
Moderator

Re: Ticked off and mad about it.

@Tiersha hi and welcome to the forums 

 

Where did you see this drop? 

Message 3 of 12
ImTheDevil
Community Leader
Super Contributor

Re: Ticked off and mad about it.

Along the lines of where the prior two posters are going with this, we are assuming you got this info from Credit Karma or some other similar monitoring site. If so (and it does sound like it), pay that score drop no mind as it's not a FICO score and therefore isn't relevant to mortgage lending. I know of no instance where your profile would take that kind of hit from the removal of a derog. VantageScore, however, most definitely could. Good thing is VS scores aren't used for mortgages (or really much at all other than conning you into apping for cards to earn referral fees for credit monitoring sites).



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy Platinum | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $124,400 | Agg. Util 10%
Message 4 of 12
BrutalBodyShots
Super Contributor

Re: Ticked off and mad about it.

I'm a bit confused by the original post.  You talked about having 1 negative mark on your credit and stated it was removed, which then equates to a clean file (no negatives at all).  You also said though that you have no lates in a year and a half, which then suggests that you have others that are older.  Please clarify on that.

 

As the other members have already asked, what is the source of the score that you're seeing the 78 point drop on?

 

The removal of a negative item isn't going to result in a 78 point Fico score drop.

Message 5 of 12
ImTheDevil
Community Leader
Super Contributor

Re: Ticked off and mad about it.

Agreed, but in Vantage it might. I've lost 37 points in VS3 for ZERO changes as reported by CK. If that derog was very old, VS3 may well ding you heavily for a lower AAoA.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy Platinum | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $124,400 | Agg. Util 10%
Message 6 of 12
Remedios
Moderator

Re: Ticked off and mad about it.

Based on this thread, I don't think OP is referencing VS.

In any case, there were at least two or three instances where removal of last negative resulted in scoring drop (one was a BK). 

 

 

 

Message 7 of 12
ImTheDevil
Community Leader
Super Contributor

Re: Ticked off and mad about it.

I could understand a scoring drop happening from scorecard reassignment but I wouldn't think one of nearly 80 points would happen solely from a derog drop...



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy Platinum | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $124,400 | Agg. Util 10%
Message 8 of 12
BrutalBodyShots
Super Contributor

Re: Ticked off and mad about it.


@Remedios wrote:

Based on this thread, I don't think OP is referencing VS.

In any case, there were at least two or three instances where removal of last negative resulted in scoring drop (one was a BK). 

 


A scoring drop of the magnitude referenced by the OP though?

 

The scores referenced don't really support that.  Someone going from a (say) 725 dirty score isn't going to drop to (say) 650 from a scorecard reassignment to clean.  A 725 dirty card score suggests that profile outside of the dirt is relatively strong, certainly strong enough to yield a > 650 score once clean.

Message 9 of 12
Remedios
Moderator

Re: Ticked off and mad about it.

Ones I found via search function were from 13-25 points, so not this magnitude, but drops nonetheless. 

 

It's possible that there are other contributing factors if op went "clean"

New accounts, utilization etc are all weighted differently on clean vs dirty, so maybe it's a mix of things if OP is looking at fico scores. 

 

No idea really, Im just not willing to disregard any individual accounts since I've witnessed enough weirdness on my own profile to last me a lifetime. 

 

Message 10 of 12
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