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Why Did my Score Drop?

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Karnage146
Contributor

Why Did my Score Drop?

I received a score watch yesterday saying that account and account balance changed. It was a collection account, it went from $105 to $0. (Should have never been $105 in the first place, they reported wrong) and account went from collection account to settled account. Score dropped 2 points, not alot but not sure why it dropped when my balance dropped .
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llecs
Moderator Emeritus

Re: Why Did my Score Drop?

Assuming nothing else changed on EQ, it was likely due to the updated baddie. Look within an older report. Your payment would have updated the reported or status date, and maybe even DOLA. If the time between the old dates and the new ones is great (months/years), then it would be that update that caused the drop. Dates aside, paying a collection will never help your FICO. FICO ignores the balance on collections so paying it off wouldn't have helped.

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