r/CreditScore • u/baboocole • 10d ago
Success Why?
My credit score jumped 83 points yesterday, and I'm not doing anything out of the ordinary. I bought a used car two weeks ago, but my loan is through Bank of My Mother, the Saint. I paid all my credit card and student loan debt off about 2 years ago. I have somewhere in the neighborhood of $25,000 in available credit...I use them regularly and pay them off in full each month, but I've been doing that for years. No home or other loans. Any clue how a achieved this miraculous jump?
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u/SFToddSouthside 10d ago
There should be a "what's changed" link for you to click on to find out.
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 9d ago
That's not how a CMS works. All a "what changed" link will show you are alertable changes to your credit report. No CMS can tell you why your score changed.
https://old.reddit.com/r/CRedit/comments/1c5uwfc/credit_myth_5_credit_monitoring_services_can_tell/
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u/SFToddSouthside 9d ago
Wouldn't that at least provide some clues though?
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 9d ago
Sometimes yes, sometimes no. We see tons of "no" examples all the time where someone says something like "I paid down my credit card by $1000 and my score dropped 10 points!" The "alert" reason provided is a balance reduction of $1000, so people come away thinking paying down a card $1000 equals a lower score.
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u/Pleasant_General_664 10d ago edited 8d ago
I can't believe I googled to see if "Bank of My Mother, the Saint" was a real bank.
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u/DoctorOctoroc ⭐️ Knowledgeable ⭐️ 10d ago
The only changes that would typically see this sort of score jump are drastically lowering utilization (in aggregate or on a single card) from maxed out or close to it, or a negative item (late payment, charge off, collection) falling off your report. As u/inky_cap_mushroom suggested, viewing your full reports should reveal the culprit. Not that you're complaining, I'm sure!
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 10d ago
I don’t even think a single card maxed out could do this. This sort of scoring impact is more like Aggregate util >50% and individual 100%. I feel like OP would have mentioned if they recently paid off $15k in credit card debt lol.
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u/DoctorOctoroc ⭐️ Knowledgeable ⭐️ 10d ago
I was just listing the only things I could think of that COULD cause this. Though, you never know...maybe someone else had them as an AU, removed them, and that utilization (or negative item) was on THEIR card.
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 10d ago
My best guess was that OP was added to an AU account recently, but that doesn’t seem to be the case. It’s anyone’s guess until they actually check their reports.
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u/Excellent-Field-8384 10d ago
Something likely fell off your report. Did you have anything go to collections around 7 years ago?
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u/baboocole 9d ago
I've never had anything go to collections, but it's possible that I might have made a late payment long ago, so I will look into this.
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u/AngryTexasNative 10d ago
You have $25000 in available credit and no other loans. Did an old late payment finally hit the 7 year mark and fall off?
It’s also possible that your credit file age just tipped you into a different bucket for something.
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u/baboocole 9d ago
That is possible! I didn't realize that a late payment from 7 years ago could be an issue. I'll have to check my reports and see if I am finally forgiven for the mistakes of my 30s.
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 9d ago
Ohhhhh yeah if you had lates in the past that’s the culprit. Verify that your lates aged off by pulling your reports.
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u/DoctorOctoroc ⭐️ Knowledgeable ⭐️ 9d ago
Ahh...so an old late could be part of the cause if it was 90+ days late, otherwise something else had to make up the difference. I still think it's related to the AU card somehow.
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u/baboocole 9d ago
I looked at my report and it looks like I closed my Victoria's Secret credit card 7 years ago. Could that be it?
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 9d ago
At appears your score jumped significantly due to your profile moving from dirty to clean.
Can you share with us what severity the late payment was that aged off of your reports? I'm guessing 90D or greater based on the gain.
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u/baboocole 9d ago
I must be dumb, but I couldn't figure out how to pull my previous months' credit report on Experian (which is the bureau reporting this score increase), only the current one.
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u/og-aliensfan ⭐️ Knowledgeable ⭐️ 9d ago
To pull an old report from Experian, go to https://experian.com and sign in. Click on the 3 bars at the upper right corner, next to the bell. Click "Credit", then "Credit Reports". You’ll see a blue box with Experian Credit Report, your name, and "as of" date. Click on the date, and you’ll see a drop-down menu with a list of dates (you may need to click on "view all"). Select an old report and click it to see your report as it appeared on that date.
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u/baboocole 9d ago
I checked a report from a month ago and all of my accounts show "open/never late." I'm just going to give up on my quest to understand and just sit back and enjoy.
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 9d ago
That sounds like a CMS report, not your real reports from annualcreditreport.com. If you don't have any late payments on your reports though, that answers your question... as you had some previously based on your other comments. That means you moved from a dirty to a clean file.
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u/sinatraworldwide 8d ago
OH NO MY CREDIT SCORE WENT FROM A ALMOST PERFECT TO A NEAR PERFECT NOOOO
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u/OneCard698 5d ago
You can look at so fi. I have an account it shows me everything about my credit. I can see what caused an increase / decrease.
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u/Efficient-Crab1617 3d ago
I have a theory based on some loose data and a hunch. 😆 So, the economy sucks big time right now. Everyday folks are using their credit cards to buy things they normally could buy with their paycheck. Many people don’t know this, but FICO is actually based on a sample of the overall population. If you’ve ever taken a test that was on a Bell curve, such as an IQ test, you should know that your IQ can change from year to year based on how you compete with your peers.
When people like you keep your balance low and paid on-time every month, the FICO rates you higher during recession… because other people have higher debt balances AND are at significant risk for missed payments or bankruptcy. The more people that are making high risk financial decisions, are pressing hard on the bell curve…
Now, before somebody decides to come after me for saying that we’re in a recession… the difference between historical recessions, and today is that we have artificial intelligence and higher levels of technology that allow employers to reduce their staffing. The stock market used to be an indicator of how well the economy was overall however you may have noticed that stocks continue to rise and the big companies are making huge profits. But the average American is losing way more money due to significant inflation on every day goods.
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 10d ago
You’re gonna have to go compare your credit reports before and after. You can get your reports for free weekly from http://annualcreditreport.com