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Score dropped for what reason?

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Spanky23
Established Member

Score dropped for what reason?

Have a Discover IT that gives me my monthly score.


First month's showed a 697 (2 HP's for the card and a quicksilver card) then the next 4 months showed 729

 

I've been PIF the discover (last month showed $40 cause I used it the day before the statement cut and since it was a gas station I figured it would take the normal 2 days to show, thus not being on the statement

 

Had a balance on my bestbuy but paid it down to 20% utilization overall (a lot less than in the months showing 729)

 

Checked today..........705. I've not done ANY apps since my discover 5-6 months ago, what gives? I've lowered my utilization so shouldn't that be a good thing?

Message 1 of 6
5 REPLIES 5
bada_bing
Frequent Contributor

Re: Score dropped for what reason?

Credit Karma has a new "beta" free full credit report that gives most of the useful raw data off your TU report. It also allows looking back at past reports to see what has changed.  Credit Karma fako scores aren't useful for much, but the new full report is great. Pair up the historical snapshots of credit report data from CK with a real FICO like discovey gives an useful look into the mechanics of your particular credit score situation.

 

One caveat is I think the historical snapshot credit reports come from updates you did as a CK member. If you weren't an active member there won't be an archive of old reports to look at.

 

+ 850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
Message 2 of 6
Jaylima91
Established Contributor

Re: Score dropped for what reason?

I'm sure we would all suggest pulling a TU credit report Or perhaps check with CK. (Not the FAKO score but the actual report)

It seems like there are other things affecting your credit score. Remember, your credit score is a number that defines your credit profile. In other words, so many things other than just credit cards and their utilization can affect your credit score.

That's all I can think of. Hope this helps
Message 3 of 6
Jaylima91
Established Contributor

Re: Score dropped for what reason?

Just noticed bada_bing beat me to it. Lol
Message 4 of 6
newhis
Valued Contributor

Re: Score dropped for what reason?

I understand that you lower your  utilization but for the first time your Discover card reported a balance of $40?

 

I read that to get a high score you need to have 0 balance in all of your cards but 1. If that changed then that's why you got a lower score? If this is the case, then next month as you return to the 0 balance in your Discover you will get the score back.

Message 5 of 6
Spanky23
Established Member

Re: Score dropped for what reason?

Is there anyone that could possibly explain this more? I pulled by free TU report from annualcreditreport and all payments showed up OK (I had my discover report the first month too and the score went up). Literally nothing has changed

Message 6 of 6
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