topic Credit score drop in Understanding FICO® Scoring

Credit score drop

Anonymous — Sun, 24 Jun 2007 17:01:20 GMT

Anyone know why my credit score would drop from 801-768 in one month?

I have had no major changes in my credit profile for the past few months. I have not opened any new credit cards, closed any accounts, and been late on any payments. During the past few months, my credit balances have remained stable.

A drop of 33 points in 1 month seems drastic. I have checked my credit reports and everything seems fine.

Re: Credit score drop

fused — Sun, 24 Jun 2007 17:27:08 GMT

Cardinals wrote:
Anyone know why my credit score would drop from 801-768 in one month?

I have had no major changes in my credit profile for the past few months. I have not opened any new credit cards, closed any accounts, and been late on any payments. During the past few months, my credit balances have remained stable.

A drop of 33 points in 1 month seems drastic. I have checked my credit reports and everything seems fine.

BTW, nice score, is this FICO? You said your "credit balances have remained stable." What is your utilization on your credit cards? For example if your credit card has a $1k limit and a balance of $300, your util would be 30% and that is not ideal. 1-9% is where you want to be on all cc's.

Message Edited by fused111 on 06-24-2007 07:27 AM

Re: Credit score drop

smallfry — Sun, 24 Jun 2007 17:29:39 GMT

Double check maybe you lost an old TL that was helpful. Seems like a lot to lose in one month w/o major changes though. Wait a few months and see if it doesn't reverse. Experian reports are nice in that they give drop off dates for closed TL's.