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Okay, I need to make some sense of this...
Earlier in the month I apped and opened a few accounts so I expected a bit of a score drop but something strange happened.
This showed up on my Scorewatch (EQ):
Your FICO® score decreased to 700 on April 19, 2014. |
This score decrease may be caused by these 2 new reasons:
|
I have not had a late payment in 4 years. I combed my CR to make sure that there were no unaccounted for loans opened without my knowledge, but the only lates that are showing are the 4 year old late mortgage payments. Admittedly they were 90+ day lates, but theuy are not new.
An experian Fico pulled 4/20 showed that my EX went UP 10 points due to the increased available credit (even with the inquiry hits) and TU only dropped 3 points.
How is it that four year old lates are NOW causing a 20 pt score drop?
If it is NOT causing the drop, why would Scorewatch claim that it is?
If you pulled your EQ report on myfico and there is nothing new related to lates, etc., just ignore the SW reasons. You are probably right about your score drop. I find that SW sometimes (maybe more often than not) gives me reasons for score changes that make no sense so I ignore them.
Gotcha. Thanks.