Toothfairy

Exactly.... Moved to a new FICO Scorecard for better credit profile consumers. Anyone who reads enough here on CB will discover for example that typically when a consumer has a BK drop from their credit reports, the initial FICO change will be negative! However this FICO drop is only temporary in nature and due to a Scorecard change from one with consumers who have a BK reporting to one with consumers who do not have a BK reporting, which is a positive move overall and in the long-term. FICO will never list a Scorecard change as a reason for any type of score movement, that info is considered proprietary and they don't want to disclose it. And FICO's will not drop due to a timely mortgage payment or balance decrease. We did have a BK drop from the reports, but it dropped in February. Perhaps this just hit now? As I said in another post, this Mifico stuff can be very confusing. It's not always easy for everyone to navigate and figure it out. I have had some really constructive help on here, and I think I will go over the TU report TL by TL and compare and old report to a new one to see if anything is different and what might have caused the change. Thanks for the positive input!

Thank you! That's wonderful advice. I have the older report and though nothing seems to have changed on either EQ or EXP, I think I do need to go over TU line by line to figure out what the heck happened. From the other helpful comments on here, I know now that the message you get on Myfico doesn't necessarily relate to a score drop, even though the way it's set up would make you think that. I'm not sure since there were no other alerts at all of changes, just the balance change. With a drop that significant I do need to figure out what it is. And I honestly didn't feel like I was insisting anything, I was honestly trying to clarify what people were saying. I really feel how MF has it set up is very confusing. They show the points drop, and give you and alert at the same time. I would think that most might think there's a correlation. My frustration had to do with how some were answering me. I get they have "earned" their credentials, but I also think there is a nicer way to talk to people. It seems like the interest here was in proving they were right, not in actually helping me understand. Anyway, that's not your issue, I thank you for the help. This FICO jungle can be very frustrating and difficult to understand sometimes.

Wow, I have been on Credit Boards for many, many years, and I have always gotten helpful advice when I initiated a thread. This one has me very frustrated and upset. I am trying to clarify what others are saying so that I understand what the FICO scoring means and make sure I'm getting it. I still don't quite understand about the large drop, but I do understand that it doesn't necessarily correlate to the balance change on my mortgage. I used to get non-judgmental advice and had things explained to me in a caring manner, without rudeness or being made to feel like an salamander. That's definitely not the case with this thread. So, thank you to those that gave me good advice and honest help, I appreciate it. For those that only had rude comments to make, perhaps your time would be better spent coming up with something positive to contribute to the world. Toothfairy out....

Who is they? As I explained in previous posts, Myfico reported it that way. "A change in mortgage balances" is the listed reason for the score drop. You are WRONG. "A change in mortgage balances" is the reason you got an alert! It does not explain all the reasons your score changed. This is a machine with a lot of moving parts all running at once. Again, as I stated previously, I cannot find ANY other changes on other accounts to give me any explanation at all for this huge drop in score. The only change we had was ontime payments and a mortgage balance drop.

Who is they? As I explained in previous posts, Myfico reported it that way. "A change in mortgage balances" is the listed reason for the score drop.

Please explain how this is the OP's logic? I didn't say that at all, my post was asking for help to try to figure out why the score dropped 67 points and the reason they gave was a change in the mortgage balances. I believe that someone else on here was talking about their score going up with an inquiry, I just agreed that it had happened to me also. I never said that a person should keep increasing their balances to increase their scores.

I actually did gain points for a credit inquiry when I applied for a new card. But you didn't, and that's my point. So basically what you are saying is the reasons that Myfico gives for the score changes are invalid. So they show you the drop or increase, give you the information to click on to find out why that change occurred, but it's not correct information? You're too busy arguing, when you should be busy reading. Many of us have been taught by one of the foremost FICO brains on the internet. How am I arguing? I am just clarifying what this person has posted, and trying to figure this out. NOT arguing!!! And I have been reading, thank you very much!!

You con't talk sense to this guy. He just wants to tell us about his awesome foo. At this point I'm more concerned about someone finding this thread in three years and thinking it's possible to lose 67 points just by making a mortgage payment, or gaining points from new inquiries. Well, as far as I can tell, we had nothing else change. Mortgage balance went down, second mortgage balance went down. CC balances went down slightly. Everything went down, nothing went up and there were no lates. I can't figure it out. The reason states "the total balance on all your mortgage account or accounts has changed", it shows the first mortgage having gone down $3000, and doesn't give any other reason. We've checked the reports and racked our brains and can't come up with any reason this should have happened. If someone has an idea, feel free to share. But from what I can tell they seem to be telling us that the drop was mortgage related....

I actually did gain points for a credit inquiry when I applied for a new card. But you didn't, and that's my point. So basically what you are saying is the reasons that Myfico gives for the score changes are invalid. So they show you the drop or increase, give you the information to click on to find out why that change occurred, but it's not correct information?

Nope, different instance. Only a few points drop for disputes on EQ, not 67.

My DH is trying to get a boat loan, but most to not pull TU anyway, so probably it won't matter. I don't think anyone is trying to antagonize you. Your score didn't drop because you made a mortgage payment. Show us what what displayed on MF that led you to this conclusion. You may have a balance change and a score change on the same day, but you cannot assume that there is a cause-effect relationship. It stated score drop, balance change. When you click on more info it shows the mortgage balance change only. No other information is given and no other accounts are listed as being a reason for the change. That's why I was so confused, I couldn't believe that a balance drop on a mortgage would drop the score that much, but it's the only reason that's given. Like I said, my report showed the exact same thing, same wording and everything, but my score did not change at all, only my husbands dropped. I wouldn't have freaked out, except the drop was so significant. I actually did gain points for a credit inquiry when I applied for a new card.

This is one of the best posts I've read here. It should be stickied. Best explanation I've seen on this. Thank you for explaining this to me. I had no idea this is how disputing worked. It explains my 5 point drop sometime ago. BTW, sorry for my rant, I do appreciate your explanation for the score drop when disputing, even though that pertained to my other thread. It's helpful to know that information, though why it only happens with EQ I don't know. Thanks again.

Two different instances!! In my other thread this happened in the past...several times, disputed TL, EQ dropped the score about 3 points. This TL just happened yesterday, using Myfico, the REASON Myfico gave us was balance change, score dropped 67 points because of this reason!! The balance change that Myfico actually showed us was that the mortgage balance went down by $3000 dollars!!!!! That was the reason they gave us!!! The score drop was on TU!!!! So don't say that paying your mortgage will NEVER drop your credit score, because that was the stated reason per Myfico on the TU report. FYI, there were no new lates, just on time payments. My other thread clearly states that the drop for disputing was on EQ. Sorry for all of the exclamation points, but your response really frustrated me. They are two different threads about very separate issues. My DH is trying to get a boat loan, but most to not pull TU anyway, so probably it won't matter.