Re: BIG Score Drop w/ New Tradeline
11-02-2012 10:26 PM
Sounds like you were rebucketed if you had a change in your pos/neg items that help/hurt your FICO. However, the score change seems too high. I once lost over 50 when adding 3 new TLs, but I also had been app free for over a year and that was 3 new TLs.
I'd zero in on the balances and util changes.
The CFL comment is relatively benign. It appears after the presence of a payday loan or a finance account like the former CitiFinancial (or whatever they are now), Wells Fargo Financial, and others, including certain furniture-like accounts. Even if paid off, the comment remains for as long as it reports. In most cases the length of history helps more than the comment hurts and usually removing the account will result in the demise of the comment but a drop in score. If the history is needed, let it be.