My Equifax Score Dropped 21 pts!!!!!!!!!

[Anonymous]

I have no clue as to why my Equifax score dropped 21 pts, I was at 722 just a couple of days agao and now I'm at 701.  What's so strange is that I was at 719 for a month and then it jumped up to 722 and now I'm back down to 701!!!!!!!  I made no new credit purchases or took out any loans.  All of my cc bills/loans were paid as soon as the bills cut.  In fact, I paid off my Cap1 MC and I always more than the minimums on my debt. 

My Cap1 MC only had a $500 limit and I had a balance of $9...so I paid it.  So, why am I being spanked for lowering my untilization??????  I have debt down to 50% utilization and none of my credit limits have been decreased...I checked.

[haulingthescoreup]

Congrats on getting it down to 50%! Good start!

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sassizme wrote:
... All of my cc bills/loans were paid as soon as the bills cut.  In fact, I paid off my Cap1 MC and I always more than the minimums on my debt. 

My Cap1 MC only had a $500 limit and I had a balance of $9...so I paid it.

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Is the 50% figure what is showing on your reports, or what you're calculating?

I can't tell from the way you phrased it whether you paid when the charges first showed up on your account, a day or two after being made, or whether you paid when they showed up on your statements. If you paid them after they showed up on your statements, you're not getting credited in your scores for this. If you can pay the balances, or as much of them as you plan to or are able, before the statement posts, your scores will reflect much lower util.

Be sure also to compare the score report from before with this new one, and make sure nothing has changed, especially any dates on negative items.

Take a look at the positive and negative comments on screen 2 (both reports.) How have they changed? Have the comments changed in order? The first listed is the one most affecting your scores.

[Anonymous]

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@haulingthescoreup wrote:
Congrats on getting it down to 50%! Good start!

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@Anonymous wrote:
... All of my cc bills/loans were paid as soon as the bills cut.  In fact, I paid off my Cap1 MC and I always more than the minimums on my debt. 

My Cap1 MC only had a $500 limit and I had a balance of $9...so I paid it.

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Is the 50% figure what is showing on your reports, or what you're calculating?

I can't tell from the way you phrased it whether you paid when the charges first showed up on your account, a day or two after being made, or whether you paid when they showed up on your statements. If you paid them after they showed up on your statements, you're not getting credited in your scores for this. If you can pay the balances, or as much of them as you plan to or are able, before the statement posts, your scores will reflect much lower util.

Be sure also to compare the score report from before with this new one, and make sure nothing has changed, especially any dates on negative items.

Take a look at the positive and negative comments on screen 2 (both reports.) How have they changed? Have the comments changed in order? The first listed is the one most affecting your scores.

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My utilization is showing on the report and my spreadsheet.

Below is what it says about my drop:

How account changes impact your score: The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.)

• The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts.
• The balance on the account decreased. Generally, less debt is better for your FICO® score.
• The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations.
• The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score.
• The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.

It's very confusing to me!  My Equifax Scores are as follows for 2009:

• 3/12/09 - 682
• 3/25/09 - 719
• 4/4/09 - 719
• 4/23/09 - 723
• 4/25/09 - 701

I see that I can't subtract...my score actually dropped 22 pts!!!!!!!!!!!  I just don't understand why score dropped.  I didn't had no new debt, I paid my bills way before they are due and I paid EXTRA on my cc bills.  I don't get it.

[haulingthescoreup]

Well, to start with, the maybe-this-is-why messages that come along with alerts are generally bizarre, to say the least. It does say that if your score dropped, to read them as if the opposite happened, if that's any help at all.

I'm troubled by the number of hints (mostly worthless, but still) that there has been some sort of status change on an account. Go back again (I know!), compare the two reports, and look again for date differences, status differences, comment differences, anything that might indicate that a lender has changed how an account was reported. The most likely candidates are any negative accounts, but it could be any number of things.

[ms9232]

I think there has to be something wrong because out of the blue something just told me to order and updated report because I haven't received any alerts in the last few weeks.  Low and Behold me credit score has dropped from 712 to 691.....Find the 21pts coincidence strange.  ! Normally don't post but I just had to search and see if anybody else had this happen.  Actually my new report is better that the 1 before.  I am paying to get alerts to find out if my score changed in anyway and now that's not happening.  I am a little freaked out now.