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Member
Posts: 14
Registered: ‎09-19-2013
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Credit Score DROPPED 15 Points!!! And I don't know why! Help

I started getting old names and addresses deleted on my reports in Mid-late Sep. I also disputed one late and a morgage account saying closed and zero balance when in fact it was not. EX score started at 655 when up on 9/19 to 669 no alert on this day. Then It went up again on 9/24 to 685 with a credit card balance change alert, balance with down. Then on 9/27 it dropped to 670 with an account change alert showing whats below. Why would this drop my score 15 points??!! When I pull my actual EX report the balance still says $0 balance. That and the Comments is all I see that is different in scorewatch. Will the Newly reported comments cause my score to drop? I'm confused. Please help! Thanks in advance.

 

Account opened: 12/2005
Description: Account transferred or sold
Real estate mortgage
Conventional mortgage
 Previously reportedNewly reported
Balance:$0 
Past due:$0$0
Status:Pays account as agreedPays account as agreed
Last activity:7/1/20137/1/2013
Description:Consumer disputes - reinvestigation in process
Account transferred or sold
Real estate mortgage
Conventional mortgage
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help

You are saying the mortgage should not be closed with a 0 balance?  It says it was sold and if that is the case that is how it is supposed to report.

 

When you dispute OC accounts certain aspects of the TL are removed from scoring.  Your score can go up or down.  When the dispute is resolved, your score will either go back to predispute, if no other changes occured on your credit report,  or up or down, depending on an update, change or deletion.

Member
Posts: 14
Registered: ‎09-19-2013
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help

Right. The account was not sold. Still it doesn't explain my score dropping. Also I forgot to mention that I was disputing an erroneous late on that mortgage from 2008 which was deleted along with the account change. So if anything my score should have gone up. Before I disputed the late the account was reported as open with correct balance. It is all very confusing. What I'm trying to say is nothing Negative happened for my score to go down only positive changes.
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Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help


Crer007 wrote:
Right. The account was not sold. Still it doesn't explain my score dropping. Also I forgot to mention that I was disputing an erroneous late on that mortgage from 2008 which was deleted along with the account change. So if anything my score should have gone up. Before I disputed the late the account was reported as open with correct balance. It is all very confusing. What I'm trying to say is nothing Negative happened for my score to go down only positive changes.

Did you mean EQ vs. EX?

 

Your FICO will ignore certain aspects during a dispute, including your payment history. Therefore, you wouldn't see any increase if that late was deleted. And FICO would have ignored it upon the initial alert so any gains would have been then. Also, FICO largely ignore lates that old at 30 or even up to 60 days late, so unless it was a 90+ or worse, then you wouldn't see any changes there either.

 

If the -15 came from a SW alert, then know that the score change is a NET score change. It doesn't mean that the end of the dispute or even that account caused the score drop. There could have been other factors influencing that drop like util.

Frequent Contributor
Posts: 363
Registered: ‎06-25-2013
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help

my WM fico dropped 13 and i think its because all of my cc are reporting zero balances, nothing else has changed on my cr

 
If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin
FICO Equifax-741, FICO Transunion-729, FICO Experian-740, Walmart FICO-742, Sallie Mae FICO-756
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Moderator Emeritus
Posts: 10,924
Registered: ‎12-30-2011
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help


Steelersboy wrote:

my WM fico dropped 13 and i think its because all of my cc are reporting zero balances, nothing else has changed on my cr


Possibly; drop a balance on a single card next month and see if the score rebounds.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Frequent Contributor
Posts: 363
Registered: ‎06-25-2013
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help


Revelate wrote:

Steelersboy wrote:

my WM fico dropped 13 and i think its because all of my cc are reporting zero balances, nothing else has changed on my cr


Possibly; drop a balance on a single card next month and see if the score rebounds.

 


Yep, got 2 pts today.EQ seems to always want a balance reporting.

 
If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin
FICO Equifax-741, FICO Transunion-729, FICO Experian-740, Walmart FICO-742, Sallie Mae FICO-756
|Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Mastercard|Sallie Mae MC| Citi Double Cash| Discover It|Goal scores- 760+
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Posts: 14
Registered: ‎09-19-2013
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Re: Credit Score DROPPED 15 Points!!! And I don't know why! Help

Interesting. Good to know

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