Why has my TU score dropped 70 points?

[Anonymous]

On 3/11 my TU score was 703.  Since then a few changes have happened on my report.  I will try to give as many data points as possible.

Around mid February I traded in my car.  My inquiries went from 8 to 18 after the dealers shopped my credit everywhere.  Against my wishes but anyway...

As stated before on 3/11 the score was 703. 

3/17 my Stash card was added to the file with an 8k limit. Score dropped to 686.

3/19 Cap 1 cli from $500-$1500

3/20 notification of total balance of all bankcard accounts being $92, down from $284 last month.  Score dropped to 666.

3/25 all retail trade lines $1,149 down from $1,239.  Drop from 666 to 634.

On 3/16 my auto loan showed as paid on the EQ report but no alert as of yet on TU.  I'm guessing this is part of the reason for the drop?  I had the loan for 3 years.  New loan hasn't posted on any report yet. 

All of my accounts are at 10% or less as far as utilization goes.  So, I am kind of concerned as to why my score is dropping so rapidly.  I haven't had any negative alerts but it keeps dropping.  Thoughts???

[Anonymous]

Where are you getting your scores from?

[Anonymous]

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@Anonymous wrote:

Where are you getting your scores from?

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This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Where are you getting your scores from?

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This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

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Well I have heard you lose points when you pay off a loan, and obviously you'd lose points when taking on a new auto loan. But if neither of those have shown up on TU yet, then I'm just as lost on the point drop as you. I know the new Stash card probably cost some points, as well as the INQ for it, but it's hard to believe it would drop it 70 points - unless you have a really thin file. Are you sure no baddies appeared on you report?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Where are you getting your scores from?

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This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

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I assume the score is derived from the alerts you've been receiving? If so, pay for and pull a fresh TU report and see what the score is.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Where are you getting your scores from?

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This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

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I assume the score is derived from the alerts you've been receiving? If so, pay for and pull a fresh TU report and see what the score is.

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I'll pull one tonight.  I'm certain that no baddies have been added and I listed every alert posted on TU.  I guess time will tell. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Where are you getting your scores from?

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This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

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I assume the score is derived from the alerts you've been receiving? If so, pay for and pull a fresh TU report and see what the score is.

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I'll pull one tonight.  I'm certain that no baddies have been added and I listed every alert posted on TU.  I guess time will tell. 

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My hunch is that when you pull a fresh report, the score will be right back up where it was.

[SouthJamaica]

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@Anonymous wrote:

On 3/11 my TU score was 703.  Since then a few changes have happened on my report.  I will try to give as many data points as possible.

Around mid February I traded in my car.  My inquiries went from 8 to 18 after the dealers shopped my credit everywhere.  Against my wishes but anyway...

As stated before on 3/11 the score was 703. 

3/17 my Stash card was added to the file with an 8k limit. Score dropped to 686.

3/19 Cap 1 cli from $500-$1500

3/20 notification of total balance of all bankcard accounts being $92, down from $284 last month.  Score dropped to 666.

3/25 all retail trade lines $1,149 down from $1,239.  Drop from 666 to 634.

On 3/16 my auto loan showed as paid on the EQ report but no alert as of yet on TU.  I'm guessing this is part of the reason for the drop?  I had the loan for 3 years.  New loan hasn't posted on any report yet. 

All of my accounts are at 10% or less as far as utilization goes.  So, I am kind of concerned as to why my score is dropping so rapidly.  I haven't had any negative alerts but it keeps dropping.  Thoughts???

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I'm guessing that:

1. you lost a bunch of points from the auto loan being paid off, like 30 points or so

2. you apparently have no credit card accounts at zero; you'd pick up some points by having a majority reporting zero balance

3. the new Stash account cost you some points in inquiry + new account, & the inquiries from auto loan cost you

[SouthJamaica]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Where are you getting your scores from?

---

This site.  I have the ultimate 3b monitoring.  The scores I'm referring to are the Fico 8 by the way.

---

I assume the score is derived from the alerts you've been receiving? If so, pay for and pull a fresh TU report and see what the score is.

---

I'll pull one tonight.  I'm certain that no baddies have been added and I listed every alert posted on TU.  I guess time will tell. 

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My hunch is that when you pull a fresh report, the score will be right back up where it was.

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I don't agree with that because (a) his new auto loan will be fresh, and won't be partly paid down like his old loan was, and (b) he's got the inquiries and new account weighing him down. So yes I think he'll come back somewhat but it will be a gradual process to get back to where he was.