Please explain this

[ajcstr]

So this has happened to me twice and I can't make any sense of  it   Note my credit score has been in the 650-690 range with utilization 70-80% for the last 5 years or so and 0-1 late payment depending on which report.

 

First Scenario 

 

Payed my utilization down to mid 50% and scores went up to around 690.  I was in the position to pay off my first mortgage and converted my variable HELOC to a fixed real estate loan.  My total real estate loan amount decreased 30% and my HELOC which was at 90% utilization moved from revolving to real estate on my report.  I'm thinking that would put me into 700 territory.   Nope, My score dropped to the 640's.   That was in October. 

 

Second Scenario

 

Been making on time and extra payments and lowered my utilization to 33% and my score crept back up to slightly over 700.  I then made a payment on one of my cards to lower my utilization below 30%  Got it to 28% which is supposed to be good and of course my score dropped 37 points.''

  

So a year ago I was at 80% utilization, now I am at 28% and my score is lower now than it was a year ago before the refinance and the drop in utilization.  Everything else is the same.  The 30 day late was in 2019 or 2020 I believe so it shouldn't be affecting me too much.  I'm taking about my vantage score, my Experian FICO score has not been swinging like this fortunately.

 

How could I not come to the conclusion that the cc companies have this system rigged.  Can someone make sense of this?

 

Edited June 17, 2024 by ajcstr

[greendeh]

 

11 minutes ago, ajcstr said:

 I'm taking about my vantage score

 

Meaningless

[Momof5]

Vantage scores are as useful as Credit Karma.  FICO is what is used and that is all you should concern yourself with.  With a recent change on my credit report, CK docked me 16 pts but FICO increased by 12.  CK is in the upper 600s by my FICOs are all in the 700s.

[ShawnPY1972]

On 6/16/2024 at 7:35 PM, ajcstr said:

So this has happened to me twice and I can't make any sense of  it   Note my credit score has been in the 650-690 range with utilization 70-80% for the last 5 years or so and 0-1 late payment depending on which report.

 

First Scenario 

 

Payed my utilization down to mid 50% and scores went up to around 690.  I was in the position to pay off my first mortgage and converted my variable HELOC to a fixed real estate loan.  My total real estate loan amount decreased 30% and my HELOC which was at 90% utilization moved from revolving to real estate on my report.  I'm thinking that would put me into 700 territory.   Nope, My score dropped to the 640's.   That was in October. 

 

Second Scenario

 

Been making on time and extra payments and lowered my utilization to 33% and my score crept back up to slightly over 700.  I then made a payment on one of my cards to lower my utilization below 30%  Got it to 28% which is supposed to be good and of course my score dropped 37 points.''

  

So a year ago I was at 80% utilization, now I am at 28% and my score is lower now than it was a year ago before the refinance and the drop in utilization.  Everything else is the same.  The 30 day late was in 2019 or 2020 I believe so it shouldn't be affecting me too much.  I'm taking about my vantage score, my Experian FICO score has not been swinging like this fortunately.

 

How could I not come to the conclusion that the cc companies have this system rigged.  Can someone make sense of this?

 

It's because you paid an account off is what dropped your score.  Same thing happened to me.

[hegemony]

fake scores should be ignored.