topic Score just dropped nearly 70 points for NO reason...help! in Understanding FICO® Scoring

Score just dropped nearly 70 points for NO reason...help!

Pickle027 — Sat, 26 Jan 2013 20:18:09 GMT

I just logged in and saw that my FICO went from 683 to 615 overnight for no reason. I got no alerts...the only thing it said was, "Recently missed payment or date of last payment unknown" as a reason it MAY have dropped. I have no collections, no late payments on anything in over 12 months. What has caused such a significant drop in scoring? I recently applied for a refinance, but would two hard inquiries drop my score like that?

Re: Score just dropped nearly 70 points for NO reason...help!

JM-AM — Sat, 26 Jan 2013 20:41:55 GMT

Pickle027 wrote:
I just logged in and saw that my FICO went from 683 to 615 overnight for no reason. I got no alerts...the only thing it said was, "Recently missed payment or date of last payment unknown" as a reason it MAY have dropped. I have no collections, no late payments on anything in over 12 months. What has caused such a significant drop in scoring? I recently applied for a refinance, but would two hard inquiries drop my score like that?

Sounds to me that you may have a current missed payment. Maybe something you overlooked and thought you paid.

While it isnt clearly stated that may be the reason, the best advice I can offer is to pull your credit reports and compare them to an older report and see what has changed.

Re: Score just dropped nearly 70 points for NO reason...help!

Pickle027 — Sat, 26 Jan 2013 20:44:31 GMT

I thought that too, but I only have three accounts I could have missed a payment on...all are set up automatically and all have come out of my bank account on time.

Re: Score just dropped nearly 70 points for NO reason...help!

guiness56 — Sun, 27 Jan 2013 00:36:23 GMT

Does the bank pay the accounts by ETF or by check?