01-28-2013 09:35 AM
Hi there My husband and I are in the process of having a home built, so needless to say I have been watching our FICO scores like a hawk and have subscribed to ScoreWatch for both of us.
Our LO had us pay down some credit cards to give him some points to balance out a late payment on his report. In late Dec he was at a 709 (which is the score he was approved with), but then as a few other cards posted he went up to a 726 a few weeks ago. We had sent a few GW letters to his student loan company hoping to get the lates removed but we were told no. ScoreWatch alerted me 2 weeks ago that the student loan company had added a "consumer disputes after resolution", even though we never ever said anything about disputing the late payment. I have been in contact with the student loan company and was told on Friday that the comments will be removed by the end of this month.
So yesterday I get a new alert that something had changed. I logged in and see that his score dropped to 711, but no explanation as to why. I compared the 2 reports and the balance amounts on the cards are the same, if not a little lower in the report I pulled today. No other new info reported. What could have caused his score to drop 15 points??
01-28-2013 09:47 AM - edited 01-28-2013 09:48 AM
The dispute comment is still there though
ETA: and when the dispute comment was added the score did not change. So confusing. If it was like 5 points I wouldnt be so concerned, but that is a rather large drop!
01-28-2013 06:33 PM
What type of loan program are you and your husband doing for home purchase (FHA, USDA, VA, Conventional, ARM, as examples)?
01-29-2013 12:43 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.