01-02-2013 11:44 AM
I received a FICO alert on my report on the 1st. I thought it would be an increase since I had been sending out gw letters to remove lates on my account, but instead it dropped 7 points!
The reasons they state are the following:
This score decrease may be caused by these 4 new reasons:
I have not had any new late payments that I know of, and since the last time I ran my report my mortgage payments were only reporting until the October payments, so I thought my score would only increase.
What other reasons could their be? If there was a new collections on my report wouldnt the score watch pick that up?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO