did I get rebucketed? 27 pt drop!

[peepers]

On my EQ myfico, yesterday I was at 724.  Yesterday my foreclosure fell off and I incurred a 3rd inquiry from Navy Federal this year.

I have numerous accounts older than when the mortgage was opened. My scorewatch today shows a drop of 27 pts!

The only baddie remaining is a $600 collection from a cable company issue from 2007 so its old, set to age off in couple months (I returned equipment, 4 yrs later I didnt have proof anymore. I refuse to settle this one out of principal)

Would that inquiry have done it? Credit mix? Rebucket?  Any ideas as to the huge drop?

[newmomnewme]

Hi @Peepers!! I don't know enough about rebucketing to know if that was the cause for the score drop or not....but if it is, your score should probably rebound in a few months right?  I really don't think one more NFCU HP would cost any more than 10 points?  

Bump for answers!

[Anonymous]

You certainly could have been rebucketed into the higher credit standards group. I have read where BK's fall off and people see a drop in their score. Generally not a long haul but it is disappointing when you finally get where you need to be and your score dropped. My score increased 80 points when the BK7 dropped. I did see a 27 point drop when I did a balance transfer and it reported last week. Total utilization is under 6% and total credit is $140K. Strange how it works sometimes. I have a thick file too.

[peepers]

Indeed. I am just sick over this.  Very disheartening  

[Anonymous]

peepers - not likely to be a long term effect. You have a great card folio. Credit requires patience and often after we fought to get our head above water we get dunked again. It took me from 2001 to 2011 to surface from the BK. Scores did not move and no body would issue me a prime card. When the BK fell off I was hit with pre-selected or approved apps. It had been at least eleven years. Prime cards... amazing. So I understand your frustration. With your cards it should come back with a little time. Today, I hit the 800's.

[peepers]

Wow 800!  Congrats!!!  Thanks for the encouragement.  Feels like a kick in the gut but Im trying to look at the possitive.....under a manual review I would hope a 697 without a foreclosure showing looks better than a 724 with one showing?

[gypsymama]

Very true. I know the score drop is upsetting but it should rebound quickly. Regardless you are definitely in mortgage approval territory and I'm sure any lender would rather a 697 (almost 700s anyways) with no foreclosure than a 724 with one. With that foreclosure the lender knows you've had financial troubles and lost a home before so might be less willing to work with you or at least not for good terms... without a foreclosure you look much better regardless of the score difference. You're doing great.