Good and Bad

[Anonymous]

Good evening all. Well experian finally deleted my last baddie a month early. I thought awesome until I seen my score drop 37 pts. My score had risen to 726 before they deleted repo. After the deletion fell to 689. One of my score factor say I have a consumer finance loan on my report and show me as being a high risk for having such loan.Springleaf financial sent me a check for $5000 and if i cashed it I was agreeing to a loan. I didn't need it but deposited the check. Paid off my credit card and then repaid the loan before the first payments was due. I didn't think it would come back to bite me in the rear. Smh. Instead of my scores going up after last baddie. They came down. Very discouraging. Also after lost aaoa when repo came off as it was my oldest account. Maybe that played a part as well. I guess I have to keep gardening to get scores back up. Oh well. Sorry for the rant. Thanks

[Appleman]

No need to apologize, it does suck when you are doing the right thing and the system seems to work against you (score dropping). I imagine time will help the issue with the score. Good luck

[gdale6]

There is more here than just the consumer finance loan. There is a hit in lowered AAoA and a new account hit as well even though you may have paid if off prior to the first payment even being due. Installment loans do best for you in Fico over the long term not short term like this. There is also rebucketing at work as you went from being scored with people who had derogs to being scored with people who dont have derogs.

[Anonymous]

Thanks much appreciated

[Anonymous]

Thank you for the response. That makes sense. figure AAoA played apart. Just wasn't expecting the drop in score, but time heals all wounds. Scoring factors according to Experian Credit Tracker: Hurting score

Short Credit History

recently been looking for credit

consumer finance account on credit report

Helping score:

No missed payment on credit accounts

limited use of available Utilization 4%

shown recent use of credit cards.