Score dropped 46 points....why???

[Anonymous]

So I looked at my lifelock account yesterday and found that my credit score had dropped 46 points since September. In September, my purse was stolen and I had to cancel all of my accounts. This did not seem to affect anything until now. Since September, nothing has changed but 2 credit card balances were paid off and 1 inquiry for a new cc. Why do you think I went from over a 716 now a 670??

[Anonymous]

Does Lifelock provide a Fico score, or is it one of the fakos?

[Anonymous]

Yes, lifelock provides the scores as reported by the 3 credit bureaus....

[CreditMagic7]

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@Anonymous wrote:

Yes, lifelock provides the scores as reported by the 3 credit bureaus....

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Others can chime in with their opinions but i suggest that you get all 3 hard copies of your credit reports and comb over them for anything that might be a cause for concern.

Scores alone don't tell the whole story. You need to put eyes on YOUR credit reports and then determine why the wild score fluncuation then from before.

[Anonymous]

Thanks...I did get an updated credit report on lifelock yesterday and could find nothing other than 1 payment on a lousy $66 balance that I missed when my mother died and I forgot to pay it....I had that taken off yesterday and paid balance in full....other than that nothing has changed.....what I am wondering now is if my credit score dropped significantly after the stolen cards were closed in September and I didn't know it until now since the score hadn't updated since then?

[Anonymous]

If it did drop because of the stolen cards being closed is there anything I can do to change it?

[iv]

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@Anonymous wrote:

Does Lifelock provide a Fico score, or is it one of the fakos?

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Nope - LifeLock provides TransRisk scores (from TU, EX and EQ files). 

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@Anonymous wrote:

Yes, lifelock provides the scores as reported by the 3 credit bureaus....

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No, they provide credit report information from the 3 CRAs.  The scores they provide are worthless TransRisk scores, not any FICO variant or even VantageScore. 

Check another source for meaningful scores (one of the credit cards that offers them for free, or the paid option here at MyFICO...).  Even the VantageScores at CreditKarma, CreditSesame, Quizzle, or Credit.com are slightly more useful than TransRisk...

[Anonymous]

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@iv wrote:

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@Anonymous wrote:

Does Lifelock provide a Fico score, or is it one of the fakos?

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Nope - LifeLock provides TransRisk scores (from TU, EX and EQ files). 

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@Anonymous wrote:

Yes, lifelock provides the scores as reported by the 3 credit bureaus....

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No, they provide credit report information from the 3 CRAs.  The scores they provide are worthless TransRisk scores, not any FICO variant or even VantageScore. 

Check another source for meaningful scores (one of the credit cards that offers them for free, or the paid option here at MyFICO...).  Even the VantageScores at CreditKarma, CreditSesame, Quizzle, or Credit.com are slightly more useful than TransRisk...

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I had a hunch this would be the case.

[Anonymous]

If you actually had to "cancel all your accounts," depending on how you went about that, that could be a cause for the drop. If you (or the vendor) actually closed them and opened brand new accounts without transferring your history along with them, they are reporting as brand new accounts, and your old accounts are reporting as closed -- this would affect your average age of accounts.