Experian FICO score??

[Ole Cowboy]

My credit score is up or down every month by anywhere from 8 points to 15 points, I cannot figure out why, anyone here that works in the business that could perhaps give me some insight??

 

[Bozz10mm]

Don't know. Mine stays pretty steady month after month. Expected it to go up some when I paid off the car early, but no. It took about a 6 point hit last April for no apparent reason tho.

 

[ZX9RCAM]

Mine stays pretty steady too.

 

[FireInTheWire]

Interested.

I don't track mine that tight. I do keep all 3 frozen.

 

[Kar98]

You rolling your credit card balance? Like, lots of use and payoffs? Or keeping it steady?

 

[ZX9RCAM]

My CC is paid off every month, no running balance or interest.

 

[Younggun]

Depends on where you are checking it.

Credit Karma showed that mine took a hit when I paid off my wife’s car. When I went to get a Polaris SxS equifax or whatever it was showed it to be up.

IME, the 2 shown on sites like Credit Karma are never used when I actually need to get approved and their scores are usually not a good indicator of what my credit score really is.


Sent from my iPhone using Tapatalk

 

[Ole Cowboy]

I see almost every month a gain and a loss anywhere from about 10 points to 15 points. Last month was just like this month, same bills I pay off my credit cards every month and have for the past almost 40 years. Every bill I have is paid in full [except truck and home], not late payments EVER. Just cannot figure this up and down cycle. Sometimes it moves 1, yes ONE point, WTH???

 

[Ole Cowboy]

You rolling your credit card balance? Like, lots of use and payoffs? Or keeping it steady?

My [2] credit cards combined, about $7-$10k monthly, lots of use, full payoff when due...

 

[oldag]

I see almost every month a gain and a loss anywhere from about 10 points to 15 points. Last month was just like this month, same bills I pay off my credit cards every month and have for the past almost 40 years. Every bill I have is paid in full [except truck and home], not late payments EVER. Just cannot figure this up and down cycle. Sometimes it moves 1, yes ONE point, WTH???

Companies pinging your credit record to determine if they want to offer you a great deal on a credit card?

 

[toddnjoyce]

What source are you using to get your scores?

 

[Ole Cowboy]

Companies pinging your credit record to determine if they want to offer you a great deal on a credit card?

Nope, got 2 cards thru my bank over 20 years ago. I get an email whenever my credit score changes and go to the Experian site and log in. Sadly it tells very little, in fact just that it moved x points up or down. I can go back a couple of years and what I see is the same cycle up and then down, then up and then down. It does not go up 2 times in a row nor down twice in a row. It looks like a wave pattern +/- about 10 points average. Its not logical in my head and since my months are repeatable. I only have a few payments: Truck, House, 2 Visa cards, electric bill and combined auto/property insurance bill, that is all I make recurring payments on.

 

[Ole Cowboy]

What source are you using to get your scores?

Experian...

 

[Whistler]

Depends on when the CC company reports to the big 3 and when KK updates from them. I've seen it work out where I had paid off the balance but it reported the balance I had just paid off. Just a timing thing but my % of credit usage to available was high even though it was in fact 0 and dinged my score. It evens out over time but frequent snapshots will drive you crazy.

 

[Ole Cowboy]

Depends on when the CC company reports to the big 3 and when KK updates from them. I've seen it work out where I had paid off the balance but it reported the balance I had just paid off. Just a timing thing but my % of credit usage to available was high even though it was in fact 0 and dinged my score. It evens out over time but frequent snapshots will drive you crazy.

Yea, a business I know near nothing about and the wave [up/down] pattern I found just weird. The only payments I have that are fixed are truck and house...BUT I pay more than the fixed amount. I typically buy a car or house for X years or months of payments, but I make a different payment on each almost every month, ALWAYS more than the agreed contract amount, I just sweep excess funds into car and house and pay them off sooner that way. Could be possible that influences the wave pattern???

 

[Whistler]

It could be, I have a couple cards that keep a balance like Home Depot. I pay them more than 3x the minimum payment every month and it doesn't seem to impact the score at all.

I cosigned for my son-in-law to buy a truck for his business, slammed my credit score. Two months later my credit card activity (%used v available) brought the score right back up. I'm starting to think it's completely random or an incomprehensible arcane magic.

 

[Bertgamble]

I see the same thing with mine. Secret to good rating is high limits and low usage.

 

[toddnjoyce]

Experian...

Combine what Whistler wrote and the below info and it probably explains the swings.

https://www.experian.com/blogs/ask-experian/credit-education/score-basics/credit-utilization-rate/

Inside the breakpoint (Poor/ Fair / Good / Excellent) movement is less concerning than downward trend line that crosses a breakpoint.

Also, property insurance companies may perform a soft check (that shouldn’t count....but it’s a proprietary formula) during policy renewal periods to help inform your rates.

 

[mamboloco]

It will vary a few points every month, long term it should be trending up as account age. Every month your average age of accounts also goes up.

The Fico scoring algoriths are proprietary so we won't know exactly what causes a small shift.

 

[TxStetson]

Depends on where you are checking it.

Credit Karma showed that mine took a hit when I paid off my wife’s car. When I went to get a Polaris SxS equifax or whatever it was showed it to be up.

IME, the 2 shown on sites like Credit Karma are never used when I actually need to get approved and their scores are usually not a good indicator of what my credit score really is.


Sent from my iPhone using Tapatalk

My bank tells me my credit score every month, and KK sends monthly updates. When I bought my truck a few months ago, the dealer told me my credit score, and it was 50 points higher than what I thought going in. Of course I took a hit for the couple months after buying it, but now it’s balanced back out again.