Please help with this alert and score change

[johnwantsahouse]

I just got an alert of score change.  Logged in and it shows the 2 reasons below.  I have not missed a payment in atleast 2 years and everything for the last few years is good.  I even paid for an updated complete report from equifax to check the 30 60 and 90 days display and they're all good. 

This score decrease may be caused by these 2 new reasons:

• You have balances on accounts that are past due.
• You’ve recently missed a payment or the date of your most recent missed payment is unknown.

The 2 items listed under changes to your credit report are:

• 1 new account was added to your credit report - This is a new credit card so can't be this causing it.

Past due:	Not Reported	Payment terms:	Not Reported
Status:	Pays account as agreed	First reported:	3/1/2014
Portfolio type:	Revolving or Option

• 1 of your accounts reported changes - This is an auto loan that was paid off due to refinancing at a local CU to get a better interest rate.

	Previously reported	Newly reported
Balance:	$34,681
Past due:	$0	$0
Status:	Pays account as agreed	Pays account as agreed
Last activity:	3/1/2014	3/1/2014
Description:	Auto loan	Closed or Paid Account/Zero Balance Auto loan

[johnwantsahouse]

Anyone have any ideas?

[DaveSignal]

It seems like the new credit card caused the score drop.  The other installment account is the same, just without a balance reporting.

[sunshine7157]

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@johnwantsahouse wrote:
Anyone have any ideas?

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It has been my experience with Scorewatch that when your score drops, the program runs through a series of possible explanations & just kinda throws them out there, whether they apply or not. Looks to me like your new credit account hit your report and your old, paid auto loan reported as paid/closed, but your new auto loan has not yet reported. Your score probably dropped because of the new credit account as well as showing no auto loan (which is pretty common- FICO seems to like seeing a current & active auto loan). You may or may not see a bump in score when your new auto loan hits your report- hard to say which.

[DaveSignal]

+1.  Come to think of it, I also noticed a drop when my last installment was paid.  If you don't have any other installment loans, your mix of credit takes a penatly.

so, brand new card + lacking mix of credit = score drop x2

[johnwantsahouse]

I could understand that but I have another auto loan still on my report.  I had 2, 1 was paid off due to refinancing and the other is still there.  Waiting on my new from refinancing to show up.