HELP...my score dropped 40 points

[Boilermaker35]

I recently consolidated my student loans, and my score took a 40 point hit. I'm old loans were 5yrs old, which were my oldest account and now report as closed. Now, my oldest account is a car loan from Aug. of last year. I've never been late on my auto loan or my two Capital One cards that I received the beginning of the year. My score went from 677-636. Can someone please tell me, is the normal....and what can I do to fix it. I've been working so hard to improve my credit/habits, that this setback is discouraging! Thanks!

[myjourney]

Where did you get the score from?

The closed account is still your oldest as it will report up to 10 years.

Have you check your CR's because a 40 pt drop is unusual even due to a new account 

[Boilermaker35]

The score came from credit sesame, not Fico. I wanted to wait to order my fico score because I just paid off a collection, and wanted to see the real affect it had.

[myjourney]

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@Boilermaker35 wrote:
The score came from credit sesame, not Fico. I wanted to wait to order my fico score because I just paid off a collection, and wanted to see the real affect it had.

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That explains it ....not a real score FAKO 

So I wouldn't sweat the score at all 

[Boilermaker35]

That makes me fill a little better. So, my Fico score will tell the end result of the loan consolidation and what affect it had? And how long should I wait to check my Fico score?

[myjourney]

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@Boilermaker35 wrote:
That makes me fill a little better. So, my Fico score will tell the end result of the loan consolidation and what affect it had? And how long should I wait to check my Fico score?

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Yes your Fico score will reflect true numbers

Wait for CS or CK to update then you'll know your CR's have updated because that's where they get their info from

Good Luck 

[bigboytoys26]

Oh yes....Please pull your Fico scores. My credit sesame score says 617 while my EX Fico score is 660...and my Credit Karma score says 618 while my Trans Fico is in the 650s.

[dapps06]

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@bigboytoys26 wrote:

Oh yes....Please pull your Fico scores. My credit sesame score says 617 while my EX Fico score is 660...and my Credit Karma score says 618 while my Trans Fico is in the 650s.

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This is a perfect example of how useless Fako scores are. My Credit Sesame score is 694, my CK score is 636, but as you notice in my sig, they don't match up with my scores at all. I have a much higher CS score than you, but my real EX score is much lower.

So to the OP, don't even sweat the drop, these scores mean close to nothing.