Your lender or insurer may use a different FICO ® Score than the versions you receive from myFICO, or another type of credit score altogether. All rights reserved.Īll FICO ® Score products made available on include a FICO ® Score 8, and may include additional FICO ® Score versions. That may not affect one's score immediately, but it absolutely will change the time that a threshold would be crossed.Ĭopyright ©2001- Fair Isaac Corporation. If it doesn't disappear, AAoA will be affected. The Barclays card is going to need to disappear completely, though. I may as well use my lemon to make lemonade and learn something. Given that I have the opportunity, I'm going to see what happens with one of five active accounts reporting a positive balance. When the Costco card shifted from AMEX to Citi, it took three months to report, so I'm not holding my breath. They said that the first statement balance would report, but more than enough time has elapsed for that to happen. Outside of how I use my cards, nothing in the background should cause a decrease.Ĭiti hasn't reported yet. But in that case, my scores go up rather than down. The only factor that seems to muddy the waters is when my accounts age. But in this case, the TU drop for two of five was exactly the same as I had gotten for three of six. The change generally only happens on my EQ score. The issuer may be able to fix all of the issues if you give the issuer another couple the main reason that my score changes is when I shift back and forth from either one or two cards reporting positive balances. If the new account has a Date Opened of July 2018, then your Age of Youngest Account has gone to zero which could certainly account for the score drop. This AAoA drop would happen even if the Date Opened were the older date, because your original account was open very recently. The new account will likely cause a drop in AAoA, which can cause a drop in score. Screnario 3: Your card was closed and the new card has appeared. Another penalty could occur if you did have 3+ open cards and now only have 2. Scenario 2: Your card was closed and the new card has not yet appeared.Īs Heaven mentions in a subsequent post, if you now have a higher percentage of open accounts reporting a positive balance, that could cause a scoring loss. If the Date Opened has changed to July 2018, then your Age of Youngest Account has gone to zero which could certainly account for the score drop. Scenario 1: No account was closed, but it was renamed You should also look carefully at the Date Opened. Do you have a tool for pulling your credit reports frequently? Credit Karma will give you your TU and EQ reports for free.Īs Heaven mentions, you should should be looking to see whether a new account has appeared with the old account being closed, or whether the old account has just changed names. You don't mention whether you have pulled your credit reports - you just mention the credit score. Should I dispute this or is my score too good to bother with doing this? Can anyone see a reason why this has happened. The LL Bean card was opened over 6 months ago due to a store sale, but is rarely used. I have an AARP Visa and a Discover card (both for over 10 years). I have no mortgage, my auto loan in existance for 3 years is paid automatically each month. I can think of no other reason for the score dropping. I have no debt except credit card debt which is automatically paid in full each month. Coincidentally, my FICO score dropped from 811 to 799 for no apparent reason. Was advised recently that my LL Bean Visa was changing banks and that I would receive a new card from the new bank.
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