experian credit score drop. Was I rebucketed

[pokerdave]

My march free credit report from Experian had me at 780. 

27400 owed on credit cards out of 162k limits for a 17pct usage.

 

April just updated and  my numbers were 

26, 951 out of  162k  17% used

No new cards reporting open balances and my score was 750. (First world Problems)

 

No missed payments etc.  The only possible thing I can think of is that I deferred my vehicle payment and instead of paying the 524 payment I paid 92.00 the interest. I also have two personal loans and paid them so the balance on them went down about 500.

 

Computer glitch, Rebucketing?

 

 

 

 

 

 

[MarvBear]

My experience with customers who defer their automotive payment has never been positive from the consumer standpoint. The creditor will invariably find a way to FUBAR it. You still good Dave with the score you posted.

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[hegemony]

Is that a FICO score or FAKO?

 

ETA: the deferred loan might have been suppressed from FICO scoring and the loss of an installment loan (if it is your only open one) and/or change in AAOA may be a factor in the decline.

Edited April 29, 2020 by hegemony

[pokerdave]

.Hegemony. It is the free score that you get monthly from Experian.com . It said its a fico8.

It matches up with my free Amex score which also dropped to 750 on Apr 22.  This report was Apr 27.  I am not worried but usually my score increase and decrease make sense.

 

Marv i agree with you about the bank screwing it up.  It is with a local CU and i got a notice that i was past due.  They were great when I called though and I got a VP to send me an email that said no negative info will be on my credit report for the deferrment. *fingers crossed

[hdporter]

If I were pushed to make a call base on what PD reports, I'd go with hege's gut -- the vehicle loan tradeline has likely been noted as in payment deferral and the notation is likely suppressing the tradeline from scoring temporarily.  The impact will likely fully reverse when the status is restored to normal.

[hegemony]

1 hour ago, pokerdave said:

.Hegemony. It is the free score that you get monthly from Experian.com . It said its a fico8.

It matches up with my free Amex score which also dropped to 750 on Apr 22.  This report was Apr 27.  I am not worried but usually my score increase and decrease make sense.

 

 

From what I've read, deferred accounts like this are excluded from scoring. Thanks for the data point that seems to confirm this (since nothing else changed significantly for you)

[MarvBear]

When all this is over I hope they don't end up showing you with a late. That is the bulk of the problems I've had to approach with prior consumers. I really do wish you well.

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[centex]

15 hours ago, pokerdave said:

My march free credit report from Experian had me at 780. 

27400 owed on credit cards out of 162k limits for a 17pct usage.

 

April just updated and  my numbers were 

26, 951 out of  162k  17% used

No new cards reporting open balances and my score was 750. (First world Problems)

 

No missed payments etc.  The only possible thing I can think of is that I deferred my vehicle payment and instead of paying the 524 payment I paid 92.00 the interest. I also have two personal loans and paid them so the balance on them went down about 500.

 

Computer glitch, Rebucketing?

 

Any changes to the number of cards with a balance?  Remember that utilization components look not just at how much of the overall line is being used but ALSO the ratio of cards to cards with a balance.  Too many people overlook this and see a change when they have a ten dollar balance that reports on an extra card or two even though their overall use dropped by a few thousand...

[pokerdave]

Update.  

I figured it out.  When my credit fell apart in 08 the one card that kept reporting was my synchrony /jc penny card.  Opened in 1998 and closed in April 2010 for lack of use. Fell off the credit report. Surprised that cost 30 points!

Edited May 27, 2020 by pokerdave

[MP80]

I can conclude the exact description on my previous Ameriprise credit account, and when it age-offed from various bureaus,  it was accurately deducted 30 points, and my EX FICO 8 slipped from 807 to 777, although the reported debt was less than $ 2,000.

[cv91915]

13 hours ago, pokerdave said:

Update.  

I figured it out.  When my credit fell apart in 08 the one card that kept reporting was my synchrony /jc penny card.  Opened in 1998 and closed in April 2010 for lack of use. Fell off the credit report. Surprised that cost 30 points!

I missed your thread the first time around, but thanks for coming back to it and posting the outcome.   

 

The one thing commonly overlooked when people earnestly believe "nothing else has changed" is the passage of time. 

Sometimes that manifests itself in the positive (one or more TLs pass an age milestone and there's an unexpected bump up), and other times the passage of time results in a change like in this example where it works in the other direction.

 

 

 

Edited May 27, 2020 by cv91915

[goldtrad]

I think I was rebucketed myself at least as pertains to my Fico 9 scores. Pretty sure some older lines have been dropped off my reports. Before this month June 2020 my scores had fluctuated between 847-850 top score 850 for this iteration right. This month shows 822. BK in 2000 so all of my really old lines from the mid 1970's went bye bye got a lot of new cards in the 2007 app frenzy.

 

Paid off a mortgage I took out in 2014 in April so I doubt that is the cause. Reasons for score are accounts too new and balances on installments too high. I have a car loan from Dec 2018 original balance 16K now 10K. Have 5 credit cards limits 150K balance on one card $1200 only one inquiry.

 

So I guess I must have been rebucketed. Oldest line 13 years.