myFico EX +31 with (1) pos.factor,(3) negative factors

[racer-x]

So I just got a myFICO EX update (I've got the new 3-report dealio)

+31 from 686 to 717

4 alerts:

1.  Decrease in account balance 56% to 0% - I paid off US Bank H-Davidson VISA, $2800

2.  High revolving account utilization - 83% - The recently CLD'd US Bank PLOC

3.  Balance amount INCREASE - $8100 to $6900 - That wasn't an INCREASE in balance, that was a DECREASE - The recently CLD"d US Bank PLOC

4.  Credit Limit decrease - $15k to $8.3K - The CLD'd US Bank PLOC

Point/question is, out of those 4 alerts, only 1 is positive and I still got a myFICO EX 08 score increase of 31, up to 717?

Doesn't seem logical to me...grateful yes...confused, yes.  Any ideas why such an increase with more negative alerts than positive alerts?

BTW, that 717 is the same as experiandirect website. 

[bdhu2001]

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@racer-x wrote:

So I just got a myFICO EX update (I've got the new 3-report dealio)

+31 from 686 to 717

4 alerts:

1.  Decrease in account balance 56% to 0% - I paid off US Bank H-Davidson VISA, $2800

2.  High revolving account utilization - 83% - The recently CLD'd US Bank PLOC

3.  Balance amount INCREASE - $8100 to $6900 - That wasn't an INCREASE in balance, that was a DECREASE - The recently CLD"d US Bank PLOC

4.  Credit Limit decrease - $15k to $8.3K - The CLD'd US Bank PLOC

Point/question is, out of those 4 alerts, only 1 is positive and I still got a myFICO EX 08 score increase of 31, up to 717?

Doesn't seem logical to me...grateful yes...confused, yes.  Any ideas why such an increase with more negative alerts than positive alerts?

BTW, that 717 is the same as experiandirect website. 

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The increase and FICO score is based on positive action, not on alerts.  Alerts just tell you about a change.  The score is based on decreasing utilization on 3 out of 4 cards one of which was paid to 0.  Although you state what your utilization is on your paid off and high utilization, you don't state how much your utilization changed on the other cards. But the bottom line is alerts are just that alerts and they don't reflect all changes that have occurred to your status and your accounts.

[racer-x]

Bdhu- there are only 2 cards in question with the 4 alerts. I pif my us bank harley card, 56% to 0%. I have $150k in cl, so paying off $2800 doesnt affect overall utization much.

The other 3 slerts are for my us bank ploc
- it was cld'd that left me at 97.1% last week.
I paid it down to 83% but it was60% before the cld.

- cld from $15k to 8.3k

-fico alert also said increase in account balance from 8100 to 6900. That was a decrease in account balance not increase

[Revelate]

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@racer-x wrote:
Bdhu- there are only 2 cards in question with the 4 alerts. I pif my us bank harley card, 56% to 0%. I have $150k in cl, so paying off $2800 doesnt affect overall utization much.

The other 3 slerts are for my us bank ploc
- it was cld'd that left me at 97.1% last week.
I paid it down to 83% but it was60% before the cld.

- cld from $15k to 8.3k

-fico alert also said increase in account balance from 8100 to 6900. That was a decrease in account balance not increase

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Aggregate utilization is scored, as is number of revolving tradelines reporting a non-zero balance.  Some points there.

Combined with the CLD / maxxed out tradeline penalty (presumably on a LOC) hard to say; however, the monitoring solution doesn't track everything uniquely either.  Your score is your score and the one here should match Experian's FICO as they're both FICO 8 but possibly something else changed.  IF you have the EX service, check the report and see if something else beneficial happens otherwise that's a pretty sweet boost.  

Were all your tradelines reporting a balance before?  That's a pretty big negative if your file is otherwise derogatory free.

[racer-x]

Revelate- i had 10/20 reporting balances.
I have pif 5 of the 10 that were reporting.

Last wk, 3 of 5 were updated to the CRA's with $0 balances and with new CLD'd limits. I had 9-12pt gains.

Yesterday, the other 2 of 5 reported $0 balances with one of them having a new CLD amount. And i gained 31pts.

Ive paid about $20k in debt reduction in the past couple wks.

Im anxious to see what EQ shows.

I think TU is being held up by my dispute with US Bank. I didnt mean it to be a dispute, never said dispue in the letter. Just wanted an explanation of a 619 tu score they said i had, which caused their system to automatically CLD me to 97% util on an acct.

[Revelate]

That was a lot of balances originally, and the 20K additional utilization might well have been significant according to FICO (well done btw!)

The balances being paid down seems legit for the increases you saw, the bigger jump was likely aggregate util and a smaller number of balances change.  

Is your file clean outside of the utilization?

[racer-x]

Rev- i have a paid $165 collection that reported 2010, paid in 2012 after discovering myfico. And only reporting on TU.

Clean orherwise. No bk's. I basically started from a clean slate in '12. No credit/financial activity for 10 yrs prior to '08.

[Revelate]

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@racer-x wrote:
Rev- i have a paid $165 collection that reported 2010, paid in 2012 after discovering myfico. And only reporting on TU.

Clean orherwise. No bk's. I basically started from a clean slate in '12. No credit/financial activity for 10 yrs prior to '08.

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Oh yeah that utilization was killing you then on EX under FICO 8.  Changes not surprising at all with that, LG let $1 report on each of her 8 cards and dropped something like 70 or more points; between your 10/20 which ain't optimal, and the utilization, I'm not surprised you're seeing big leaps forward.

[racer-x]

Rev - utilzation was about 20% on $175k.
Now that my avail credit is $140k , my utilzation is still kinda high at 16% or so even tho i paid down $20k.

If i still had my 175k avail credit, id be closer to 10% util.

[racer-x]

Rev - The 3 negative alerts I received still baffle me.  It seems the negative alerts would cancel out the 1 good alert of PIF'ing a mere $2800 balance on $150K worth of TL's.

Is it possible that my score may have jumped 50+ pts if I didn't have on the PLOC account a 65% CLD, 83% utilization, and an increase in balance?

I used to be able to have a good idea as to where my scores go when certain things happen.  Lately, I'm just not getting it.

It's been a bit 'adverse' I guess.  lol.