Why is my FICO Score Falling

[Anonymous]

To be sure  low scores benefit the credit card companies,banks and anyone else who lends money.

Most of the factors that raise or lower a score are measurable and understandable and therefore have a basis in actuarial validity. However in my case and a few others our scores should be staying the same..not falling. Otherwise the factors that they use to measure need to be re-evaluated.  I am no more a credit risk today than I was yesterday..I still have some active debt...although none new in several years. So there is absolutely no reason my score should be negatively affected.

If the CRA's want to continue to use the formula they are using and unfairly penalizing those of us who are handling our credit well..and who know how to live without debt then the lenders who benefit from score rigging will lose out as it will discourage people like us from borrowing..  Cash is King!!

[Anonymous]

Is it possible that an unsolicited increase in my credit card limit could  decrease my credit score?

[Tuscani]

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toddj1965 wrote:

Is it possible that an unsolicited increase in my credit card limit could  decrease my credit score?

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No.. Increased limits only help you.

[Anonymous]

So again my credit score could/should only increase not decrease..

Tuscani, et al, I think that I am going to be forced to order my credit scores from the other two soon. It just sucks that I have to pay to see why my score is going down. Am I overreacting if it's currently like a 790 and was 803 or something like that last year with TU?

[Tuscani]

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toddj1965 wrote:

So again my credit score could/should only increase not decrease..

Tuscani, et al, I think that I am going to be forced to order my credit scores from the other two soon. It just sucks that I have to pay to see why my score is going down. Am I overreacting if it's currently like a 790 and was 803 or something like that last year with TU?

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Yes.. be happy with 720+. Excellent credit is excellent credit. What good is a 800+ to you anyway?

[Anonymous]

Well I guess I just am a bit anxious that it is going down not up...and heading/trending toward the next credit tier 760...besides I liked being in the 800 plus club.

Also I once had a credit card from like 1985 through 1992 but not on my credit report and I closed it myself never late never over credit limit.  They also don't have my paid of College Student loans from late1980's through early 1990's...I paid off quickly.

Wouldn't  adding these would definitely increase the average age of my credit accounts which is 6 years now?

[smallfry]

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@Anonymous wrote:

Well I guess I just am a bit anxious that it is going down not up...and heading/trending toward the next credit tier 760...besides I liked being in the 800 plus club.

Also I once had a credit card from like 1985 through 1992 but not on my credit report and I closed it myself never late never over credit limit. They also don't have my paid of College Student loans from late1980's through early 1990's...I paid off quickly.

Wouldn't adding these would definitely increase the average age of my credit accounts which is 6 years now?

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Good luck widdat.

[Anonymous]

Unfortunately it shouldn't have to be luck. If we are to trust the Credit Report Gods and Goddesses of the Universe we should be able to follow that formula they give for how they derive the score. They set out a formula and then don't follow it.

[Anonymous]

Don't you luv the fact that the CRA's have so much power over our financial lives yet it is  a mysterious and somewhat flawed system....e.g. your score can go down for awhile after you pay off a debt. Or another example of course already stated several times on this thread...length of credit history appears to be this ambigous variable that even if it's gotten older than last year and nothing else has changed your number can still go down.

[Anonymous]

If something old on your credit report such for example as a car loan dropped off after 7 years, so do the points I think.