Your'e Unbelievable Transunion

joeyv1985 · ‎10-09-2020

Fico 8 Trans drops 6 points to 782 because my Citi DC reports a $118 Balance(Out of $12,500). Previously it was at $0. Total Utilization goes from $698 to $816($30,000 total CL) which is still under 3%. I don't even know why I bother sometimes keeping track. The "Man" holds all the cards I guess. 2 months ago, Equifax dinged me 4 pts when I brought the balance of the same card from $6(you heard that right) to $0, while Trans and Exp raised my scores 6 and 4 pts respectively. I wish these scoring agencies would be more transparent with their algo's. Maybe if we get a petition going and send it to Congress......

Anonymous · ‎10-10-2020

@joeyv1985 wrote:
Fico 8 Trans drops 6 points to 782 because my Citi DC reports a $118 Balance(Out of $12,500). Previously it was at $0. Total Utilization goes from $698 to $816($30,000 total CL) which is still under 3%. I don't even know why I bother sometimes keeping track. The "Man" holds all the cards I guess. 2 months ago, Equifax dinged me 4 pts when I brought the balance of the same card from $6(you heard that right) to $0, while Trans and Exp raised my scores 6 and 4 pts respectively. I wish these scoring agencies would be more transparent with their algo's. Maybe if we get a petition going and send it to Congress......

I don't see that with small balance changes on a clean/thin/young/new-account scorecard, and this has to be one of the more credit-risky scorecards. A a 3% to 6% aggregate change (+$900 in balances) only causes a -1 point change on TU 8.

Your drop may be related to number of accounts reporting a balance, an AU card reporting $0, or switching scorecards due to aging alone. (I don't know if you have an AU account. I don't.)

joeyv1985 · ‎10-10-2020

@Anonymous wrote:
@joeyv1985 wrote:
Fico 8 Trans drops 6 points to 782 because my Citi DC reports a $118 Balance(Out of $12,500). Previously it was at $0. Total Utilization goes from $698 to $816($30,000 total CL) which is still under 3%. I don't even know why I bother sometimes keeping track. The "Man" holds all the cards I guess. 2 months ago, Equifax dinged me 4 pts when I brought the balance of the same card from $6(you heard that right) to $0, while Trans and Exp raised my scores 6 and 4 pts respectively. I wish these scoring agencies would be more transparent with their algo's. Maybe if we get a petition going and send it to Congress......
I don't see that with small balance changes on a clean/thin/young/new-account scorecard, and this has to be one of the more credit-risky scorecards. A a 3% to 6% aggregate change (+$900 in balances) only causes a -1 point change on TU 8.

Your drop may be related to number of accounts reporting a balance, an AU card reporting $0, or switching scorecards due to aging alone. (I don't know if you have an AU account. I don't.)

Hello Again Cassie,

As fate would have it, the $118 increase show up on my Experian Fico 8.....and it goes up 7 pts to 780!!!

joeyv1985 · ‎10-10-2020

Cassie,

What's an AU account? Authorized User? If so, I don't have one of those.

Anonymous · ‎10-10-2020

@joeyv1985: AU is short for 'Authorized User', just as you deduced. You don't have one, so that's not a factor.

Are you using Experian's credit monitoring service that provides daily updates of 7 EX scores?

If so, do you have a report there from October 1 through 9? Aging points would show on the October 1st report. Did any aging metric (AoOA, AAoA, AoYA, etc.) reach a multiple of 3 on October 1? (3,6,9,12,15,18,21,24 or Value modulo(mod) 3 = 0)

How many accounts were reporting a balance before the +7pt score change?

Anonymous · ‎10-10-2020

An increase in balance did not cause an increase in score.

AzCreditGuy · ‎10-12-2020

@joeyv1985 I got dinged 19 pts on Equifax for having 100% max card use, even though I put small balances on the cards I was using vs showing a $0 balance before. 5 out of the 9 cards where showing use , now its 9 out of 9 cards being used. I'll take the hit for now, knowing I can change the ficos later on down the road.

joeyv1985 · ‎10-12-2020

Copy. I have a balance on one of cards that's going to report in the next couple of days and my aggregate utilization will be about 11% so I know a hit is coming. But then again my Auto balance went from $16K to $6K in 2 months so they can't be too upset about that.

RobertEG · ‎10-12-2020

As for requiring the disclosure of scoring algorithms, they are intellectual property for which the inventor has chosen to atttempt to protect as trade secrets rather than disclosing them, which would only occur if they had chosen the alternate route of applying for a patent.

As such, they are covered, as with other business algorithms, as propritary, and protected under trade secret law.

On what basis would consumers assert a right to legislation compelling inventors to disclose their trade secrets, and those lose protection of their invention?

It is, in my opinion, not something that congress should be mucking with .......