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Funkazoid

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1 Person Helped
Added as Authorized User and Score Dropped! How come?
First I want to say I am new here, and have been lurking for a while and have received invaluable information towards my efforts to repair my credit which has helped me get my score from a 580 to about 620 in a short time. Thanks every one for all the great information.

My last actual FICO score was 585 from 03/02/2014 from TU. But my FAKOs the other day from EIDT aka MPM credit monitoring were TU 620 EX 587 EQ 609 which uses the TransRisk New Account Credit Score. I had my girlfriend add me to her Amex awhile back as an authorized user and while I didn't get any B* because they don't do that anymore, I did get a nice bump on my FAKO scores. However, she added me to her Wells Fargo Mastercard with $8500 credit limit with $0.00 balance and a perfect payment history since 2007 and I did get B* BUT... and this is a big BUT... my score on EIDT aka MPM DROPPED to TU 620 EX 561 EQ 547 (hasn't shown up on TU yet).

Any ideas why? I thought being added on a card with decent credit limit, long and perfect payment history and low or no balance would increase my score, not lower it.

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3 Contributions
1 Person Helped

I think I may have figured out why my FAKO dropped. The TransRisk New Account Credit Score used by MPM aka EIDT I believe is the same one used by CK. If you are using 0% credit card utllization vs 1-20% credit card utilization, that factors for a lower score in their algorithm. Adding the new card on my report as an AU with an $8500 CL and ZERO balance took my utilizaiton from 2% to 0% and BAM lowered my FAKO.

Also, Bump.

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