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score drop???

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Anonymous
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score drop???

So I got a notice from myfico that my TransUnion score dropped 7 points because they detected two open disputes.  **bleep**, I'm trying so hard to clean up my credit.  What gives?

Message 1 of 8
7 REPLIES 7
Anonymous
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Re: score drop???

The score drop may or may not have anything to do with the disputes.

 

Sometimes accounts that are under dispute are removed from the scoring equation; it's like they don't exist until the dispute is over. 

 

If they aren't removed from the equation, your score simply changed because of something else.  The alert you received doesn't mean that the score you were provided with (and the change) has anything to do with that alert.  Any time you receive an alert you are provided with a new score that may have been impacted by the alert, or it may have been impacted by something else (and not the alert) and it's just being brought to your attention due to the alert.

Message 2 of 8
Anonymous
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Re: score drop???

How long will it take to go back up?!? This is frustrating....




Message 3 of 8
Anonymous
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Re: score drop???

Why did my score drop 48 pts!?!  I have been working so hard on rebuilding my credit!  TU went up 57 pts and the next day dropped 48 points.  CK says it's because one of the accounts I disputed - and had deleted  from my TU report - caused my length of history to decrease.  Crap! Now what?  Very frustrated.

Message 4 of 8
Anonymous
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Re: score drop???

Odd score events. In Nov or Dec my EQ & TU Vantage3 scores shot up about 50pts, TU dropped about the same w/in days... but not EQ.

 

I had expected a big drop due to my husband buying a new truck, I was co-buyer. When I saw the +50 I thought "cool this myFICO thing with installment loan adding to score really rocks." Then the -50ish on Vantage TU. I read every printed word of my EQ Vantage3 score. I found my answer in accounts details. EQ was showing a history of auto loan since 2014... great history, deserving of a big bump in score. Problem was... payments for a 2017 pickup... that started in Sept of 2014? Yeah... I wish.

 

Scores went back to normal. New auto loan dropped Vantage3 by about 20. FICO scores now higher than before auto loan. Vantage3 still much lower,

 


@Anonymouswrote:

Why did my score drop 48 pts!?!  I have been working so hard on rebuilding my credit!  TU went up 57 pts and the next day dropped 48 points.  CK says it's because one of the accounts I disputed - and had deleted  from my TU report - caused my length of history to decrease.  Crap! Now what?  Very frustrated.


 

Message 5 of 8
Anonymous
Not applicable

Re: score drop???

My fico scores are the same as they were a few days ago, BUT CK is saying that TU dropped 48 points.  Which one is correct?

So confused....

Message 6 of 8
K-in-Boston
Credit Mentor

Re: score drop???

Both are correct, but FICO scores are the only ones that really matter.  Vantage 3.0 scores are used by almost no one, and by no major lenders.  Vantage 3.0 scores are extremely sensitive to new accounts and many other minor factors.

Message 7 of 8
Anonymous
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Re: score drop???


@AnonymousMy fico scores are the same as they were a few days ago, BUT CK is saying that TU dropped 48 points.  Which one is correct?

So confused....


If you have an account or accounts that are in dispute, your score can change dramatically depending on the information contained within that account when the dispute starts and can switch back when the dispute ends if nothing changes with that account. 

Message 8 of 8
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