down 33pts!

[Jerzee123]

Can some one tell me why this happen?..

I'm new at repair/rebuilding..

began Dec 2013..

got a Credit union Rebuilder installment  loan for $ 300

credit score 610(per credita karma )

 In january 2014 was approved for first store credit card New York & Co(Comenity Bank)...&250 CL 

then a collection derogatory (nco/direct tv) made score drop to 601.

got a secured card Captial 1...$300CL

used my NY Co card in FEB  for $69.47  and my score literally dropped -33pts!!!(according to Credit karma  monitor)

...Please I am so Ticked!!!!

 I dont get it.. Did I use too much utilization ?? its under 30%!

but why the huge drop?

 what can i do for it to come back ? i paid the balance , and now i dont want to use any of the credit Im beginning to get if my damn score drops...what's the use?

please,, info ...advice...

[llecs]

Don't put any faith into that score because it isn't a FICO. There had been times in the past where my FAKOs from CK went up and down into the double digits with no movement on my corresponding FICO. In other words, your FICO might not have changed at all.

Now opening loans or accounts can drop your FICO, or increasing util can do it too. 30% is high, but the impact to your FICO would greatly differ from CK's FAKO(s).

[nativenyer]

Ideal utilization is less than 10% so you want your balance to be under this amount when the cards report to the credit bureaus.

I would check Fico for scores.  All other scores are fake and referred to as Fako scores.  Fico scores are the ones lenders pull.  This month a CA "updated" one of my accounts.  My Experian fako dropped 42 points!!  I was totally upset.  Then I checked myFico Experian score...unchanged.  This is why you should check Fico scores.

[Jerzee123]

ok I thought the score on CK was a small reflection of  Transunion score sorta ...

 and Ive been reading everything about credit  that says utilization use  up to 30% and thats what I thought I did...

if I use my Cap1 will that cause me to drop more ???

how long does it take to start moving upward again?

i was feeling goog at 610-604.. but 571 put me back in the dumps..

and would applying for 1 more card either retail or another secure hurt me , because at this point it seems like i should since my score  already dropped ?

[Jerzee123]

ok thank you.. im afraid to check Fico becuz if its worst than CK , I may get in a real deep depression..

but since my score dropped anyway shouldnt i try to get another retail or secured card while score is low ,

how can i work it back up? or should i just use my Cap 1 to help or will that hurt me too??

[joeyoey]

I'm on Credit Karma & in the past week I've also purchased my report directly from Transunion & also from My Fico (trying multiple places to get a more complete picture of what's going on).  Credit Karma seems to consistently be my lowest & least reliable score.  I wouldn't put too much faith in it.  I mean, for someone to just occasionally check in to have an idea what's going on it's probably great but if you're getting serious about cleaning things up, you need accurate & up to date info & they don't have it.

[Jerzee123]

ok thanks joey...

i'll  pay for Fico ...im serious about repair..Credit Karma is stressin me ...

 I want good credit and my goal is a house!!

[savings4tomorrow]

My scores have consistently went up for the pasted couple of months according to score watch and Experian. Haven't purchased Transunion but do subscribe to CK. CK had my score decreasing, but my credit union pulled Transunion and it was 60+ Points higher than CK was showing. I don't pay attention to the score anymore. Just use it to monitor activity. Don't be discouraged. Get your real FICO score and work from there!

[Jerzee123]

ok yes , you guys are helping me feel better, bcuz i am getting  discouraged every time I look at CK, its hard to not keep checking it tho...

thank you ..

[yudeology101]

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@llecs wrote:

Don't put any faith into that score because it isn't a FICO. There had been times in the past where my FAKOs from CK went up and down into the double digits with no movement on my corresponding FICO. In other words, your FICO might not have changed at all.

Now opening loans or accounts can drop your FICO, or increasing util can do it too. 30% is high, but the impact to your FICO would greatly differ from CK's FAKO(s).

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+1.  CK scores should be used only for managing alerts, nothing more.