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Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

Score Tanked :(

well my US bank just reported on my equifax. I was at 696 in december when i had a $5 balance reporting on 1 card.  By the end of the month i had 2 cards reporting 223/5000 and 394/3500. Dropped me to 691.

 

Now with my newest account, score has dropped to 677(no balance), lowest i've seen it at since using SW in March '12(previous low is 679). Not a big deal because theres not really anything i want/need to apply for in the next 6 months, and next month i'll have 2 accounts pass 12 months and 2 accounts pass 6 months so i'll probably get a decent amount of points back anyways. Also have accounts passing 12 months  in March and April too. But i think i might have had a chance to pass 700 next month when i would've had no accounts under 6 months for the first time in the last 11 months..i just wanted to actually get in the 700 club. Guess itll take a few more months now :smileyindifferent:

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Moderator
Posts: 13,756
Registered: ‎04-15-2011
0

Re: Score Tanked :(

That's not a tank, it's a rebuilding.  You took a hit, but you'll bounce back!



Starting Score: 504




July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 760
Registered: ‎02-11-2012
0

Re: Score Tanked :(

credit is like a sling shot. Sometimes you are being restrained and others, improving rapidly and then you hit the brick wall and stay parked a while.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

Re: Score Tanked :(

Score has rebounded 10 points since.

 

i had 2 cards reporting, 223/5000 and 394/3500 when my score dropped.

 

I got back 2 points by letting the 223 go down to zero. so now 1 card with 11% reporting, 1% overall. I paid that all the way to zero, so now i have zero total reporting. Bumped me 8 points lol. I had no milestones this month (no cards or inquiries or  AAoA passing major time points)

 

 I am going to let my US bank report a sub 5% balance so we will see how that affects things in a few days. ACtually since i have 2 accounts hitting 1 year and 2 accounts hitting 6 months in february, i might not be able to isolate possible score changes to utilization.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
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