Hi guys -Long time no see!Got a question? I just today got my quarterly update from Identity Guard of my credit scores and reports. Two of my scores went down, the other went up. I haven't a clue why...Date ---- Equifax ...Experian ...TransunionMay 2013 ...675 .....654 ........656 Aug 2013 ...651 .....645 ........686When I got my reports in May I noticed there was a debt that was listed with two different collection companies on two of the three reports. I contacted them to have them correct it. Unfortunately I don't remember off hand which two I contacted. (I could find it if I did some researching on my computer.) What I don't understand is why two of the scores went down and the other one went up by 30 points. Other than this error, there was nothing else changed. I have no job and am making no payments on any debt. I only have one Firestone credit card with no balance, and student loans as open credit. (student loan payment is $0 per income contingent repayment.) Anyone have any ideas? I thought the score might go up a point or two if I got the second collection off my report. Obviously, I was wrong. Per Identity Guard nothing has changed on my reports..any thoughts?
I just looked it up.. it was Transunion and Experian that had the debt listed twice. In addition I think Transunion had another debt that was rolled off because of the 7 year rule. I'm not positive on that one.. but counting on my fingers says so. (I don't know why Identity Guard didn't have it listed as a change.)
Your credit score is a number generated by a mathematical algorithm -- a formula -- based on information in your credit report, compared to information on tens of millions of other people. Your question however is hard to anwer. As a starting point look to see if you had any inquiries show on your report. These could be from any type of solicitation you received. Second did you cancel any credit card accounts or did the one card you have reduce your credit line. Activity to Fair-Isaac's indicate the potential for bad things not good things. What is often forgot with Fair-Isaac's credit scores is they are a monopoly, and the answers you seek are buried in algorithm code.
Other than this error, there was nothing else changed.no new inquiries..no change in credit limits. what's most mysterious is that 2 went down and the third went up. And these are credit reporting agency scores. I thought they had their own formula other than Fair Issac's. (well 2 of them anyway.) Who knows - sometimes I think it's better to not even bother to correct anything. Best leave well enough alone. Just not a good time for it to go southwards as I need them to go up right now. (even if it's just a point or 2)Lady I, who can't win for losing!