I'm confused and frustrated and in need of help - Kahm

[kahmyah]

I try to stay on top of my scores almost weekly.  well recently I had my experian score drop form 668 to 597.  now mind you i have a credit card balance on three of my cards.  Balances of 730, 400, and 303 respectivley.  I understand that, and will pay two of them off completely this week.  but a score drop of that much..geez.  Also, i contacted after reveiwing my reports i noticed a few things.  i had accounts on there from 1994.  I contacted the bureaus and told them of this and after doing soem research on their part said the accounts were satisfied and closed and some were removed completely.  I would think my score would have gone up.  i have made payments on time sometimes ahead of the due date.  i also noticed that i got this new inquiry from a firm called Facutal Data that I never authorized.  Anyone get anything like this and how do I contact them and ask whats up.  I just got a new house this year for the first time in my life.  I was so so so sooo nervouse applying for a loan thinking i  would be denied.  But thank God, thank you Lord, I got approved and got the house.  Only a miracle.  But now all of a sudden it seems like my credit history is going back to being bad after I got the house.  what gives..I am confused.  why is it dropping like a rock instead of going up and who is this Facutal Data people.  I should be concerned correct and who do i contact to get this fixed..where do i begin..any info would be  a huge help.  I noticed that these Facutal people have made an inquiry on me within the last two months.  Can they do that.  geez.. Oh I almost forgot.  When trying to get my credit scores I noticed now that I can't get a score from Transunion for some odd reason.  They say they have no credit history on me.  Well they had some on me up to about 3 months ago.  what gives.  anyone else experiencing anything like this.  i have contacted them but they seem not to understand or no whats going on either.  hmm..any ideas..

Message Edited by kahmyah on 12-05-2008 08:10 AM

[Chopbrocoli]

I am assuming you never missed payments and never maxed out your card, so I think the only plausible reason why your score dropped was the inquiry and the mortgage. Kroll factual data is a company that supplies mortgage and consumer lenders with risk assesment tools (Credit reports etc). Thus, since you have been applying for a mortgage, this inquiry was authorized I am sure.

[Junejer]

Hi kahm, I am going to try to attack this the best that I can (no paragraph's makes it hard to fish everything out ).

1) Check your util on the cards, individually and overall. If it's high, there is a reason for some point loss.

2) When the CRAs removed those nice, old accounts from 1994, you lost AAoA, which most definitely cost you a few points. Take it from a person, who did just that before finding this site.

3) Factual Data is usually mortgage related. So, check the date, and if it is around the time that you were applying for a mortgage, you have your answer.

4) Congrats on the new house.

5) You may have had a FA placed on when you disputed off your old TLs. It's been known to happen.

GL

[CreditAble]

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kahmyah wrote: 
i had accounts on there from 1994.

 I contacted the bureaus and told them of this

 .....................and some were removed completely.

---

 Where the accounts that you had removed in good standing or did they contain derogs? Did you perhaps delete your oldest tradeline? I definitely wouldn't have deleted any 14 year old accounts unless they had negs. 

 Removing old accounts (even if derogs were present) could still  hurt the score.

[kahmyah]

thank you all for your help and great information.  I truly do appreciate it.  From what I do know, the accounts that were either removed or closed, some that were old ad neg or derog info on them..owever, they had a status of closed account saitisfied.  so i left on good standing with all of them..i thought by closing an old, existing, non using account would help my status.  i guess i was wrong there.    As for the balances on the current cards, they all get paid on time.  but judging from what i have read here, it seems like the fact that i have a high balance is what triggered the drop.  looks like i am back to square one trying to improve my score again.  so i will work on that.  as for the Facutal Data thing, i never authorized a mortg company to pull this on me.  i have been in my house for 6 mos now.  i did get a call from the guy who did my loan the other day and he said that he would be able to refinance me at 5.5 instead of the current 6.5 he has me at now.  as i siad i noticed to inquiries from Factual.  the first one was last month and the latest was pulled this past week.  I wonder if this had anything to do with it.  any ideas or suggestions.. thank you...

[Junejer]

Call your broker/banker or whoever you used to get the loan, and ask him/her if they pulled. If not, someone is a non-PP. Look up Non-PP letter in these forums and customize a letter to fit your needs and send it out.