FICO Scores

I have a Discover It credit card that provides a updated FICO score as part of my monthly statement. My concern focuses on the fluctuation in my FICO score as it is reported by Discover. Over the past year, my FICO score has ranged from 808 to 823, with monthly fluctuations as follows….811, 813, 808, 813 ,808, 810, 818, 818, 823, 816, 814 and most recently 815.

In light of the fluctuations,I was concerned that someone was using my social security number and credit history to open accounts. I requested and received credit reports from Equifax, Experian and TransUnion. All three reports were clean and confirmed that no one had opened accounts in my name and that my credit history is as squeaky clean as I anticipated that it would be. I pay all of my bills as received each month and have never been late with a payment. I haven’t applied for any credit cards since 2014, thus the fluctuations baffle me.

Are these fluctuations normal and if so, what causes them to occur? I would appreciate any insight you may be able to provide regarding this issue.

Terry Says:  These FICO scores have become as important as SAT scores when we were in high school!  First, there are several algorithms used to create various forms of FICO score.  And depending on the balances in your bank account and on your credit cards at any given moment, the score may vary slightly  when they are calculated each month.  It’s all about living in the computer age.  These are small differences and should have no impact on your life — but you were smart to be checking!