topic Re: Equifax score drop in Understanding FICO® Scoring

Equifax score drop

Breakthecycle2 — Fri, 04 Feb 2011 00:57:51 GMT

So for really "no reason", my score just dropped over 40 points. My score watch alert said it could be because a new reason has been listed:

"You have not had revolving credit for a long period of time".

Did they just re bucket me?

Re: Equifax score drop

JagerBombs89 — Fri, 04 Feb 2011 14:06:07 GMT

@Breakthecycle2 wrote:
So for really "no reason", my score just dropped over 40 points. My score watch alert said it could be because a new reason has been listed:

"You have not had revolving credit for a long period of time".

Did they just re bucket me?

If it makes you feel any better, my score dropped 3 points for the exact same reason, as well as:

"You have recently been looking for credit" yet I have not had an inquiry since June lol!

Re: Equifax score drop

Anonymous — Fri, 04 Feb 2011 14:21:37 GMT

Hi break,

Hmmmm.

Do you have any active revolving accounts?

Re: Equifax score drop

Breakthecycle2 — Fri, 04 Feb 2011 16:32:02 GMT

@Anonymous wrote:
Hi break,

Hmmmm.

Do you have any active revolving accounts?

I do..about 10 - 12 lol.

Re: Equifax score drop

Anonymous — Fri, 04 Feb 2011 20:55:51 GMT

Yes. I see.

I don't know if I should ask you what your oldest account age and/or your AAofA are;

or if I should realize it's all meaningless and ask you if you are fond of driving yellow Jaguar XKE's.

Since I assume your oldest account and/or your AAofA are basically what they were before the 40 point drop (no new accounts or no dropping off of old accounts, right?),

I think I might tend toward the latter question.

Re: Equifax score drop

Breakthecycle2 — Fri, 04 Feb 2011 21:03:41 GMT

AA is around 4 years

Re: Equifax score drop

Anonymous — Sat, 05 Feb 2011 00:46:54 GMT

My score dropped 50 points today to 750 - very discouraging. It is lower than it was a year ago before I paid down balance by 12k (about 12k remaining). What is going on? Reasons given:

You have too many credit cards carrying balances.
The remaining balance on your non-mortgage installment loans is too high.

Only activity on these accounts has been paying down the balances.

Re: Equifax score drop

Anonymous — Tue, 26 Apr 2011 01:13:11 GMT

I had my equifax score drop also, due to disputing and old paid off student loan which shows as a bad collection but -o- balance from 2004. My score dropped 28 points in less that 2 days after filing the dispute... Anyone else have this happen and what can you d o about it. Do you get your points back?

Thanks, Bele

Re: Equifax score drop

llecs — Tue, 26 Apr 2011 01:48:09 GMT

@Anonymous wrote:
I had my equifax score drop also, due to disputing and old paid off student loan which shows as a bad collection but -o- balance from 2004. My score dropped 28 points in less that 2 days after filing the dispute... Anyone else have this happen and what can you d o about it. Do you get your points back?
Thanks, Bele

A dispute can update some baddies and that can cause a drop. There's not much you can do other than to take steps to get it removed (e.g. PFDs, GWs, etc.). If that SL is the only thing you disputed, then try sending GWs if reporting accurately.