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HiLine
Posts: 1,608
Registered: ‎10-19-2012

Guess the cause of my score drop

[ Edited ]

2 hours ago, I received an alert from myFICO's Score Watch. Upon checking my account, I saw that my score had dropped by ... a whopping 56 points! :smileysad:

 

Without revealing my financial situation, I want to see if anyone can come up with a scenario where this can happen that resembles my case. Instead of being sad, I want to make a game out of this! :manwink:

 

After 24 hours I will reveal the answer!

 

 

 

Hint: the answer has to do with credit cards :smileywink:

---> HiLine's personal finance blog - Follow my journey!  :smileylol:


-Taking a break from the forums from 4/23/2013 :smileysad:
Established Contributor
Swapmeet
Posts: 589
Registered: ‎11-10-2012

Re: Guess the cause of my score drop

You maxed out at least one card....?

My Wallet: WalMart: ||1,600|| USAA Platinum CR MC: ||4k|| Amex Delta Gold Skymiles: ||2k||; BCE: ||3k|| Chase Freedom: ||2k||
Lender pulled Fico Scores: EQ 703,TU 681, EX 707 Last app: 2/8/13 - Chase Freedom
Established Contributor
dodgerslv
Posts: 777
Registered: ‎06-16-2012

Re: Guess the cause of my score drop


HiLine wrote:

2 hours ago, I received an alert from myFICO's Score Watch. Upon checking my account, I saw that my score had dropped by ... a whopping 56 points! :smileysad:

 

Without revealing my financial situation, I want to see if anyone can come up with a scenario where this can happen that resembles my case. Instead of being sad, I want to make a game out of this! :manwink:

 

After 24 hours I will reveal the answer!

 

 

 

Hint: the answer has to do with credit cards :smileywink:


a late was reported on one of your accounts?

Chase Marriott(5K) BoA123 Cash Rewards(5K) BoA Better Balance(4K) Cap1(3.5K) U.S Bank Flex Perks(3K) Amex Green(NPSL) Amex BCP(2K) Amex Costco TE(2K) Citi Simplicity(2K) Discover(1.5K)
EX Plus 728 EQ Fico 707 TU Fico 712 (05/13)
In the garden.




Regular Contributor
Mustangfrank
Posts: 192
Registered: ‎07-17-2012

Re: Guess the cause of my score drop

 

You applied for a new card(s) and got dinged.

 

when I got three cards at once my scores took a big hit  like that and took a month to come back.

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Established Contributor
MountainHiker
Posts: 643
Registered: ‎08-07-2012

Re: Guess the cause of my score drop

An X that got revenge by running up your cards!

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Established Contributor
LesWH
Posts: 601
Registered: ‎10-11-2012

Re: Guess the cause of my score drop

Your limit was decreased, thus raising your utilization through the roof!


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014






Established Contributor
CruzImperial
Posts: 860
Registered: ‎07-04-2012

Re: Guess the cause of my score drop

Utilization hits the spot
Fico Scores: . Walmart TU 724 . App free since Aug 2012 .

Cap One Journey 500 | Discover IT 1k | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCP 6k | Citi Forward 3k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 6k | Discover Walmart 4.9k | Barclays Apple 2.5k | BoA CR 800
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Guess the cause of my score drop

black friday shopping =P


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
mikka1
Posts: 228
Registered: ‎12-28-2011

Re: Guess the cause of my score drop

Something relatively similar happened to my FAKO score once. The only reason for such an impressive drop was having one card reported lost/stolen (actually, it has been reissued by BofA even without my knowledge as they suspected something...) and new tradeline appearing without any HPs...

In my wallet now: Amex PRG NPSL, Amex BCE $6k, CSP $6k, Chase United ME $5k, Citi Dividend $4.5k, Discover It $4k and a handful of other cards...
TU March 2013 - 733 April 2013 - 728 (keep falling down after tons of recent inquiries and carrying some balance)
Valued Contributor
Repo-ed
Posts: 2,602
Registered: ‎02-09-2012

Re: Guess the cause of my score drop

Barclay CLD - util% went WAY up


Starting Score: TU:650 - EQ: 672
Current Score: TU: 706 - EQ: 680 - EX: 699
Goal Score: 700

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