Reply
New Member
dcultravillain
Posts: 2
Registered: ‎07-14-2013
0

Severe credit drop

I know I need to update my sig but I don't know how so I'll just dive in. For fico my credit score, as of May 15, was 680... I have a ton of deliquent accounts, one credit card, discover and some utilities... anyway I applied to Paypal Smart Care and Amazon store card and got approved for 300 and 600, respectively. Today I applied to lowes and it didn't automatically approve me so I went to refresh and my credit score droopped to 650! (Experien is 632, Equifax 608) and i saw in late may I got a collections account for 51 from West Bay Acquisitions. I have several things i"m paying NOT in collections and keep constant contact with them and owe a little more than that, I don't know what it is! The website is bunk and the phone number automatically hangs up on you. That's not my problem but the drop. Why did it drop so low so fast, is it the inquiries and will paying on time help raise it back up? Just starting out guys! also I got the equifax all three reports and they say my scores I got here and Experian are much lower. What gives? Thanks!

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Severe credit drop

Welcome to the forums.

 

The scores from each CRA from this site are different models/versions, that is one reason for the differences in scores.  Even if your CRs were exactly the same and the scores were the same version, they would still be different due to the way each CRA is calculated.

 

Your score drop was probably due to the collections hitting your report.  They can cause big drops.

 

Send the CA a DV letter.

New Member
dcultravillain
Posts: 2
Registered: ‎07-14-2013
0

Thanks a bunch! but what's a dv?

Thanks a bunch! but what's a dv? 

Moderator
09Lexie
Posts: 25,964
Registered: ‎09-13-2012
0

Re: Thanks a bunch! but what's a dv?

[ Edited ]
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Thanks a bunch! but what's a dv?


dcultravillain wrote:

Thanks a bunch! but what's a dv? 


DV = Debt Validation

 

It is best to keep it simple and to the point.  Those DVs that are a page long you will find here and on the internet are best not used.

 

You are have an alleged debt on my credit report, account _______.  Please validate per FDCPA 809.

Frequent Contributor
atarvuzdar
Posts: 375
Registered: ‎01-20-2012
0

Re: Thanks a bunch! but what's a dv?


guiness56 wrote:

dcultravillain wrote:

Thanks a bunch! but what's a dv? 


DV = Debt Validation

 

It is best to keep it simple and to the point.  Those DVs that are a page long you will find here and on the internet are best not used.

 

You are have an alleged debt on my credit report, account _______.  Please validate per FDCPA 809.


+1000

 

Short and sweet two-sentence DV is best.

Current: EQ 673 September2013 / TU 696 September2013 (Walmart)
Start: EQ 584 Feb2012 / TU 629 July2012

Wallet: BofA Cash Rewards Visa Sig $5000 / Lowe's $6000 / JCP $3900 / eBay MC $3200 / Barclaycard Rewards $2000 / Walmart $3300 / CapOne NHRC $2000 / CapOne Platinum #1 $2000 / Amazon $1700 / Discover It $1000 / CapOne Platinum #2 (former Orchard) $750 / Amex Zync $500 Autopay

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}