Credit Score Jump

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USADR
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Credit Score Jump

Postby USADR » Sun Nov 01, 2015 9:34 am

My Transunion credit score jumped from 669 to 706 from October to November. Seems like a very extreme jump. I did get refinanced on 2 vehicles and thanks to this forum I obtained my first credit card in 7 years from Barclay. Is it possible to jump 37 points this month? :)


gregshelley@scrtc.com
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Re: Credit Score Jump

Postby gregshelley@scrtc.com » Sun Nov 01, 2015 6:29 pm

From my short experience in this, it can bounce around a lot.
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USADR
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Re: Credit Score Jump

Postby USADR » Mon Nov 02, 2015 6:44 am

gregshelley@scrtc.com wrote:From my short experience in this, it can bounce around a lot.
Ok thank you. I am trying to keep it jumping up. :)

takeshi
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Re: Credit Score Jump

Postby takeshi » Mon Nov 02, 2015 9:52 am

USADR wrote:Is it possible to jump 37 points this month?

Sure, it's possible. Less is possible as well. So is more. All depends on the change in the report data. You really have to carefully review reports from before and after the change.

USADR wrote:My Transunion credit score

Which scoring model? That can have an impact as well. You don't have just one score for each CRA. Typically for a given scoring model you'll have a score with each of the 3 major CRA's. There are many scoring models used by creditors.

Elijahmex
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Re: Credit Score Jump

Postby Elijahmex » Mon Nov 02, 2015 12:26 pm

Mine jumped upwards of 38 points from September to October. I didn't think it was possible!
I have a pretty thin file (less than a year of credit) with no loans
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Elijahmex
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Re: Credit Score Jump

Postby Elijahmex » Mon Nov 02, 2015 12:29 pm

gregshelley@scrtc.com wrote:From my short experience in this, it can bounce around a lot.


Agree. I used to have a derog on my report and my score used to improve little by little. Now that my derog is gone and my report is clean I am seeing huge leads forward.
Slowly getting used to this credit game :cheers:
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USADR
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Re: Credit Score Jump

Postby USADR » Mon Nov 02, 2015 2:12 pm

Thanks guys. So my 706 Trans Union is not valid? Due to scoring models?

Tubpbs
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Re: Credit Score Jump

Postby Tubpbs » Mon Nov 02, 2015 2:37 pm

USADR wrote:Thanks guys. So my 706 Trans Union is not valid? Due to scoring models?


It's not that the score isn't valid. It's that the score is only relative to whatever model it is based off of. That being said, unless it's an anomaly and there is no change of any kind on your report, it is still a good theoretical indicator of positive movement in your Transunion credit profile.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

USADR
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Re: Credit Score Jump

Postby USADR » Mon Nov 02, 2015 8:09 pm

Tubpbs wrote:
USADR wrote:Thanks guys. So my 706 Trans Union is not valid? Due to scoring models?


It's not that the score isn't valid. It's that the score is only relative to whatever model it is based off of. That being said, unless it's an anomaly and there is no change of any kind on your report, it is still a good theoretical indicator of positive movement in your Transunion credit profile.
Thanks for input. Which of the 3 is the most important?

Tubpbs
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Re: Credit Score Jump

Postby Tubpbs » Mon Nov 02, 2015 8:17 pm

They are all equally important.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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