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I just got an alert for transunion on myfico and was went down 31 points for bankcard balance reported, which is less than it was last month. I really don't know if I can keep up with this. My husband and I have been working very hard to get our scores up to qualify for mortgage. I got my transusion to 710 now took a nose drive 31pts today for paying down my balance. Can someone please help. I really look to the people on this site alot for help because this is the only place I came to that was able to help me and give great information.
I am soooooo depress right now.
Most likely there was another change between last month and this month that did not trigger an alert/recalculation of your score. Did you have disputes pending that were verified? The score change that large was almost certainly not simply from balance changing.
Without seeing your entire picture its impossible to say what the cause was.
@Anonymous wrote:Most likely there was another change between last month and this month that did not trigger an alert/recalculation of your score. Did you have disputes pending that were verified? The score change that large was almost certainly not simply from balance changing.
Without seeing your entire picture its impossible to say what the cause was.
I concur. If your report is clean, then it could be due to utilization or closing an account, but otherwise if the report is not clean, then it is most likely due to something else. I would review carefully before getting discouraged. Best of luck.
Yes I have some lates on my Transunion report for student loans from 2011. I have disputed those and I checked the disputes and there are still pending other than that I do not have any judgements or collections on the report. That was the first thing I looked for when I got the alert. We are really getting down the wire to get approved for a home loan and into a home.
I t appears that you have done all you can. At this point its just a waiting game for things to age (negatives). But again, don't get discouraged, you have made great progress.
I have been working really hard to get my scores up to qualify for a mortgage because we have to move from our rent at the end of June. Our option is purchase, we have to stay in the town we're in due to my husbands work. I really don't know what to do
When items are in a dispute status certain aspects of the TL are removed from Fico scoring so this could be a big reason as to why the big drop.
@Anonymous wrote:I have been working really hard to get my scores up to qualify for a mortgage because we have to move from our rent at the end of June. Our option is purchase, we have to stay in the town we're in due to my husbands work. I really don't know what to do
You could always do a month to month rental...until things pan out credit-wise
Ok so it's possible after the disputes I can get the points back?
I thought of that but no one seem to want to do the month to month, at least in the area I live.