FICO score dropped but no reason

Anonymous · ‎06-01-2009

Hi All-

Is there a way for me to check how come my score dropped? All it shows in score watch is that my score dropped 13 points from 680 to 667 with no reason given, just how the new score will affect my rates. I have been paying on time and more than the minimum for over a year. Last couple of weeks I checked my credit reports with the free annual report (but it shouldn't affect my score, right?). I'm using less than 20% of my CL.

Thanks in advance!

llecs · ‎06-01-2009

While 13 points isn't too bad (better than 60 points, I guess), you may want to pull your EQ report from somewhere to look for any change. Changes like increased utilization, new baddie reporting, last baddie falling off (rebucketing), an extra account reporting a balance, a baddie, like a CA, updating itself, and so on can all produce a drop in score.

Anonymous · ‎06-01-2009

does it affect my score if i use the free annual credit report checking service? I was able to get a report for Transunion and Experian, but not Equifax.

llecs · ‎06-01-2009

valenjimmo wrote:
does it affect my score if i use the free annual credit report checking service? I was able to get a report for Transunion and Experian, but not Equifax.

Nope, not one bit whatsoever. I pull my CR a minimum of 25-30x/month combined between a CMS, myFICO, and the CRs as pulled directly via each CRA.

Anonymous · ‎06-02-2009

Thank you for your replies, I really appreciate it! One more question... is it possible to demand equifax to explain why they dropped my score? I'm very confused as to why it would drop; I didn't look for new credit, I've been paying off in full every month and I've never been late for the past year....

This just makes me feel like this is a sick game they're playing... I'm working hard to build my credit to buy my first home and this credit score fluctuates up and down with no reason given; it's starting to get annoying...

Message Edited by valenjimmo on 06-02-2009 08:43 AM

llecs · ‎06-02-2009

EQ is clueless on the FICO scoring process.

What are the changes between the EQ FICO report you just pulled and the one you last pulled before that? What are the changes on the Credit At-A-Glance page? Any changes on the positive or negative factors?

Anonymous · ‎06-02-2009

I have 11 open accounts. One of them is a student loan of about 25k which is still in good standing. 10 credit card account with a total CL of 21k and my total balance is 4k. My last missed payment was over a year ago and my latest account was opened in 11/08.

llecs · ‎06-02-2009

Are the positive or negative factors listed on your EQ FICO report the same?

valenjimmo wrote:
I have 11 open accounts. One of them is a student loan of about 25k which is still in good standing. 10 credit card account with a total CL of 21k and my total balance is 4k. My last missed payment was over a year ago and my latest account was opened in 11/08.

Is this info from your new report or the old?

Anonymous · ‎06-03-2009

Yes... The report is even better than the one I got before... no negative marks on the report.

llecs · ‎06-03-2009

Look on your two FICO reports. What are the negative factors listed on page 2 before this change and what are the negative factors after the score change? I'm looking for a change up in the items that are hurting your score.