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Why did my FICO Score drop in 30 days???

Valued Member

Why did my FICO Score drop in 30 days???

OK... I paid my $45 on January 15th to run my score... it came back 708. Now, I had a lender run my score and it comes back @690??? I did NOTHING to impact this drop!  I wonder how legit the numbers are that I ran on this site!  Any ideas/suggestions?
 
Thxs!
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Senior Contributor

Re: Why did my FICO Score drop in 30 days???

An 18 point drop would be about what the drop would be for 1 inquiry.

In addition, even if the lender uses FICO scoring models, there are several. One weighted for credit cards, one for mortgages, one for auto loans, etc.

I suggest the lender uses a different scoring model, not available to us consumers, which accounts for the difference. That plus the one inquiry.
"Never ever, ever be late. Never" (FUTR)
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Moderator Emerita

Re: Why did my FICO Score drop in 30 days???



64met wrote:
OK... I paid my $45 on January 15th to run my score... it came back 708. Now, I had a lender run my score and it comes back @690??? I did NOTHING to impact this drop! I wonder how legit the numbers are that I ran on this site! Any ideas/suggestions?
Thxs!



You have three classic FICO scores, one from Equifax, one from TransUnion, and one from Experian. And as Sylvia said, your lender might have pulled something called an "auto-enhanced" score, created for the auto loan industry that tries to be more predictive of car loan behavior.

So the difference could be that they pulled a different FICO than you did (EQ vs TU vs EX), and they might have pulled an auto-enhanced vs the one you get here, and they might have done both (you pulled classic EQ FICO vs they pulled auto-enhanced TU.)
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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