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score keeps going down

New Member

score keeps going down

My score keeps going down and I can't figure out why. I recently found out that I had an error on my report from a bankruptcy I filed 5 years ago. One of the accounts has been reporting me over 120 days late for the last 5 years and I never knew it until I applied for a mortgage. I got the error fixed and my score went from 588 to 647. Then the following month it went back down to 587. Now this month its down to 577. I saw a post about the "bucket" theory, but does that still apply to me because my score is still going down, not just once. I  called the credit burea that I got the score from and the person I spoke to said he couldn't help me because the score is figured by a computer and he couldn't give me an explanation. Is there something I can do about this?
6 REPLIES
Moderator Emeritus

Re: score keeps going down

Welcome, have you read the Scoring 101 thread?
New Member

Re: score keeps going down

Yes, I've read it , but I'm still confused. The only thing that changed during that month was that one of my cc raised the limit from $2000 to $3500. I didn't charge anything so the balance didn't change, just the limit. Also that was the first month when there was the big drop, not the second when there was another smaller drop. I haven't applied for anything so there also shouldn't have been any inquires and I haven't made a late payment on anything since my BR.  I've also looked at my CR and the only derogarory thing on there is my BR, which was there all along. Am I missing something?
New Member

Re: score keeps going down

Is it true that too much credit to income ratio can be viewed as a bad thing?  Or is that mainly an internal institution thing?
 
-SGT Stu
New Member

Re: score keeps going down

If nobody has an answer could you please point me in the right direction on getting an answer.
Thank you.
Moderator Emeritus

Re: score keeps going down

So we are talking FAKOs then right?
New Member

Re: score keeps going down

No, I have a credit card with wamu and I get my updated FICO score every month.