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Score dropped

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Anonymous
Not applicable

Score dropped

Hi I am rebuilding my credit.  I received a credit one cc and my score dropped 25 points!  I have a capital one secured card and started with 400 limit.  After 6 months of on time payments, they gave me a $300 increase automatically.  Now this credit one card has dropped my score.  Any advice? Thanks

 

Message 1 of 5
4 REPLIES 4
DollyLama
Established Contributor

Re: Score dropped

Are you letting both cards report with a balance, if so how much percentage of each card?

 

Optimal is AZEO ( all cards report $0.00 balance EXCEPT one card, and the balance should be no more than 8.9% of the credit line by statement cut. 

 

Do you perhaps have any installment loans in for 10% FICO scoring mix?

Message 2 of 5
rmduhon
Valued Contributor

Re: Score dropped

It could also be an AAoA drop from the new card reporting. But the important question is where are you getting the score from?
Message 3 of 5
Anonymous
Not applicable

Re: Score dropped


@Anonymous wrote:

Hi I am rebuilding my credit.  I received a credit one cc and my score dropped 25 points!  I have a capital one secured card and started with 400 limit.  After 6 months of on time payments, they gave me a $300 increase automatically.  Now this credit one card has dropped my score.  Any advice? Thanks

 


You did not mention whether the score drop was a FICO score drop or a Vantage score drop.  More information is needed on whether there are additional baddies on your report and current utilization. 

Message 4 of 5
RobertEG
Legendary Contributor

Re: Score dropped

Whenever you receive new scores that are spaced in time, you automatically have scoring factors other than the single credit card that also effect scoring.

Other accounts age, updates can be made on accounts or collections that effect their scoring, etc.

A typical example is the simple updated reporting of an unpaid collection or charge-off, which results in FICO score impact due to updated period of non-paymnet.

 

Are you sure that no other accounts, collections, or public records have updated info that would separately effect a score decrease?

Message 5 of 5
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