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Guess the cause of my score drop

Blogger

Guess the cause of my score drop

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! Smiley Sad

 

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! Man Wink

 

After 24 hours I will reveal the answer!

 

 

 

Hint: the answer has to do with credit cards Smiley Wink

Message 1 of 67
66 REPLIES
Valued Contributor

Re: Guess the cause of my score drop

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



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 2 of 67
Valued Contributor

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! Smiley Sad

 

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! Man Wink

 

After 24 hours I will reveal the answer!

 

 

 

Hint: the answer has to do with credit cards Smiley Wink


a late was reported on one of your accounts?

gardening since 5/21/2016
Message 3 of 67
Regular Contributor

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)
Message 4 of 67
Established Contributor

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
Message 5 of 67
Established Contributor

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






Message 6 of 67
Highlighted
Established Contributor

Re: Guess the cause of my score drop

Utilization hits the spot
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 7 of 67
Established Contributor

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
Message 8 of 67
Frequent Contributor

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 $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colonSmiley Wink Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...
Message 9 of 67
Valued Contributor

Re: Guess the cause of my score drop

Barclay CLD - util% went WAY up

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 10 of 67