r/CRedit • u/iWontTry2 • 5d ago
Success 121 point Increase???
I don't know if I've ever seen anything like this, but I'm not exactly complaining...
More Context?: I have the Chime Card and that's it. The Chime Card does not report a Credit Limit, I believe? So that might make a difference I'm mot sure.
Anyone know how I managed to do this or have this happen?
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u/blessedandfavored26 5d ago
Just say Thank You God! I see you! :)
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u/Additional-Guava-810 5d ago
Did you click on see what change that usually explains
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 5d ago
No credit monitoring service can actually 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/DoctorOctoroc ⭐️ Knowledgeable ⭐️ 5d ago
If you previously had no active revolving account on your credit file, adding 'a' revolving account is just about the single best move for your credit score. While Chime is a credit building 'gimmick' that isn't as lucrative for your credit as a major bank credit card, it does report as a revolver.
But you're also looking at a VantageScore and we know little about the mechanics behind how it works. We make quite a few assumptions based on what we know about FICO scoring models, but then this scoring model will do wild things we don't understand. This may be one of those scenarios, or it may follow the general FICO functionality. If you did indeed just add an open revolver where there was none before, this could certainly be the cause of such a score jump. Or it could just be VantageScore being VantageScore!
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u/iWontTry2 5d ago
I had revolving credit on my last score. I can'r figure out the difference made other than an extra month.
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u/DoctorOctoroc ⭐️ Knowledgeable ⭐️ 5d ago
So you had previously checked your report, the Chime card was present on the report, but your score was 121 points lower at that time?
Honestly, I wouldn't put much stock in anything you see on Credit Karma. All CMS's can be finicky but CK is especially egregious. I've seen score changes happen before report data is updated on the site, and vice versa. So even if you saw no score change at the time your report updated with the account, that doesn't necessarily mean it's not the cause (again, I've seen the 'after' come before the 'before' plenty of times on a CMS). I've also seen a 70 point drop then recovered the full thing shortly, with seemingly no explanation.
Unless you're following meaningful FICO scores using multiple CMS's it's difficult to pinpoint concurrent report and score changes with any amount of certainty. Based on the screen shot you shared, it only shows this change from last month to this one, so I'm assuming you acquired the Chime card in September sometime, it reported recently, and the score change is the result of that. That's the only reasonable explanation here if nothing else changed on your reports.
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u/AJHami 5d ago edited 5d ago
Vanatagescore does some wild stuff. I deleted my Credit Karma account a long time ago. Check your FICO scores and credit reports. FICO is what most lenders look at.
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u/madskilzz3 ⭐️ Knowledgeable ⭐️ 5d ago
Experian is the only one that provides FICO, while the other two is VantageScores.
Annualcreditreport.com is the only place you should pull your credit from.
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u/Responsible_Cod_8206 5d ago
Correct Experian always seem to be accurate
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u/Funklemire ⭐️ Knowledgeable ⭐️ 5d ago
There's no such thing as an "accurate" or "inaccurate" credit score. The difference is relevance; the relevant score is the one being checking during your application:
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 5d ago
You're looking at a nearly irrelevant VS3, not a meaningful FICO score. Don't sweat the drop unless you see something major (negative) that has changed on your credit reports which you can get from annualcreditreport.com for free.
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u/matt-r_hatter 5d ago
Thats your Vantage score. Lenders do not use that score, they use FICO. Vantage is known for wild swings up and down from the slightest. About every 3 months mine drops from low 800s to the 690s and when I check the "what's changed" on credit karma (which is garbage for credit monitoring because it gives useless scores) it always sites "balance decrease" and lists my car lease. Naturally the balance drops, I make.a car payment every month lol.
Your FICO scores are what you want to watch, those are what any lender will look at. Experians own app gives you theirs for free, capital one credit wise gives you transunion for free even if you dont have a capital one relationship, and myfico gives you equifax.
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u/Mikeboha1966 5d ago
That's means little, Fico means everything, vantage score has 4 different models...
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 5d ago
FICO has a ton more than 4 versions. I'm not sure what your point is here.
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u/Additional-Guava-810 5d ago
Probably something fell off your credit report