I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
@Akroyear wrote:I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
1. You shouldn't believe alerts at all, they are usually not timely, and the score changes are usually not connected to any event.
2. What do you mean you got an alert from Experian? Are you referring to an alert on experian.com? If so, why pay attention to the alert, look at your score.
@SouthJamaica wrote:
@Akroyear wrote:I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
1. You shouldn't believe alerts at all, they are usually not timely, and the score changes are usually not connected to any event.
2. What do you mean you got an alert from Experian? Are you referring to an alert on experian.com? If so, why pay attention to the alert, look at your score.
1. Understood, thank you for that information.
2. It was an email alert. It said that my score dropped. I looked at my score, and sure enough, it dropped. I thought experian.com was where you would get up-to-the-minute score changes. I guess I thought wrong. To re-word my question, which score is more recent? Experian.com or Myfico.com
@Akroyear wrote:
@SouthJamaica wrote:
@Akroyear wrote:I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
1. You shouldn't believe alerts at all, they are usually not timely, and the score changes are usually not connected to any event.
2. What do you mean you got an alert from Experian? Are you referring to an alert on experian.com? If so, why pay attention to the alert, look at your score.
1. Understood, thank you for that information.
2. It was an email alert. It said that my score dropped. I looked at my score, and sure enough, it dropped. I thought experian.com was where you would get up-to-the-minute score changes. I guess I thought wrong. To re-word my question, which score is more recent? Experian.com or Myfico.com
experian.com is more up to date...
Experian is more accurate. Myfico report is 2-3 days ago (for me) yet the one on Experian's website is "as of today" every time.
@GApeachy wrote:
@SouthJamaica wrote:
@Akroyear wrote:
@SouthJamaica wrote:
@Akroyear wrote:I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
1. You shouldn't believe alerts at all, they are usually not timely, and the score changes are usually not connected to any event.
2. What do you mean you got an alert from Experian? Are you referring to an alert on experian.com? If so, why pay attention to the alert, look at your score.
1. Understood, thank you for that information.
2. It was an email alert. It said that my score dropped. I looked at my score, and sure enough, it dropped. I thought experian.com was where you would get up-to-the-minute score changes. I guess I thought wrong. To re-word my question, which score is more recent? Experian.com or Myfico.com
experian.com is more up to date...
Yes, go with Experian as it's in real time. Next, you'll need to cull through your report to see what has changed. Something may have dropped off, updated utl.%, any number of things will cause your score to flutuate anywhere from monthly, weekly, to a couple of times in one day. Check how those "3 bad cards" are reporting too. There's a reason for the drop and sometimes you need to dig.
You were absolutely right. An account that I am caught up on just reported me late, even though I'm currently not. And, my score here just now reflects this. I'll be giving that company a call. I really like myFICO because they told me exactly what caused the decline in my alert. Thank you all for the information.
@Akroyear wrote:I just got an alert from Experian. It said that my score dropped 18 points! I was stunned because I seem to be doing everything right. I had a good credit mix with my credit builder card, 3 bad credit cards that I kept under 10% utilization, a personal loan, and 2 car loans. I haven't had any new inquiries in the last couple of months. So I log into myFICO, and it shows that my Experian score went up 4 points. There's a 30 point difference between the two. Which one should I believe?
Make it under 6%. Little nugget sitting there that will help.
