topic Re: 100 pont score drop on Credit Karma TU & EQ? in General Credit Topics

100 pont score drop on Credit Karma TU & EQ?

RandomSpirit — Mon, 30 Mar 2015 23:52:07 GMT

Is this normal.... My credit score was recently mids 700's on Ck. Log in today and 100 point drop!

The only thing new is that I recently decided to go ahead and apply for 3 new cards for a total of 25k in new CL, neither of the new cards are reporting yet.

Amex ED 10,000

CapOne Venture 10,000

CapOne QSilver 5000

I also got a Total Rewards pop-up when i logged into my account S2500; but I called and cancelled account before I received the card because it was not comperable in CL to the other new cards( However, it shows as a closed account on my reports, which im not happy about because i never received nor activated the card)

I have a total of 8, 8 and 7 total inquries on each of the reports (4 new inquires this year as a result of the aforementioned apps).

I have clean reports with the exception of a reaged CO account on TU that is currently being disputed.

Can anyone shed come light on this?

Re: 100 pont score drop on Credit Karma TU & EQ?

Kirmie2010 — Tue, 31 Mar 2015 06:58:51 GMT

I wonder if they updated or something. One of my scores dropped 100+ the other dropped about 87 points. Next update both went back up about 30 points. (the last 3 days or so) Its not just you

I figured mine was because I got 3 new cards but like you, they werent reporting yet that I had got them (no change on my credit reports or alerts from them)

One card just reported today, doesnt update for another few days tho to see what score difference it made.

*edit*
ive got 20+ inquirys on all my reports so adding a few inq's isnt what dropped my score.

Re: 100 pont score drop on Credit Karma TU & EQ?

Anonymous — Tue, 31 Mar 2015 07:07:23 GMT

Nothing different on mine. But I haven't done anything lately. I know they're doing the Vantage score now. TU score is the same as fico's.

Re: 100 pont score drop on Credit Karma TU & EQ?

takeshi74 — Tue, 31 Mar 2015 12:06:11 GMT

First off, VantageScore doesn't matter unless you have a creditor or intend to apply with one that acutally uses it.

Second, what's "normal" all depends on your profile -- not just the changes. You'd have to carefully compare reports before and after the change to determine the cause(s). With all the items you've mentioned a 100 point drop isn't beyond the realm of possibility. You've incurred multiple HP's, you've dropped your AAoA and you have an account being excluded due to dispute. There may be other factors as well but, again, you'd have to carefully compare reports. We can't determine this for you.

Also, it doesn't matter if you cancel before you receive or activate. If you apply then expect the account to report if approved. The time to decide is before applying.

Re: 100 pont score drop on Credit Karma TU & EQ?

RandomSpirit — Tue, 31 Mar 2015 12:27:34 GMT

Thanks for the responses folks. I am definitely going to keep watch on things and see if there are any changes as well as take a closer look at the before and after reports too. Seems like I should not be too worried.

@Tekeshi74 Re: " Also, it doesn't matter if you cancel before you receive or activate. If you apply then expect the account to report if approved.". I was not aware of this. It makes sense now that you mention it - good to know going forward, thanks.

Re: 100 pont score drop on Credit Karma TU & EQ?

cassett — Tue, 31 Mar 2015 18:42:31 GMT

this happened to me on credit karma too. My scores on myfico updated to a 40 point increase for 2 new cc accounts. while. CK dropped my score 110-130 points leaving my transunion into the 400s! I hope no one ever pulls my vantage score.. that is nuts!

Re: 100 pont score drop on Credit Karma TU & EQ?

RandomSpirit — Tue, 31 Mar 2015 19:24:59 GMT

@cassett, I totally agree . I've decided i'm m going to wait a bit then pull my fico scores. I am more curious now than worried like when i initially posted this.