Credit Score Drops 60 points, then Increases 60 points a few days later...

[impactplayer]

 Hi all - over the last month, I've had the most curious thing happen with my Transunion and Equifax scores. Here's a quick summary of what's happened over the last month:

• March 20: TU and EQ scores are 706
• March 23: TU and EQ scores drop to 663
• March 24: TU and EQ scores rise to 706
• March 28: TU and EQ scores drop to 663
• March 30: TU and EQ scores rise to 706
• April 6: TU and EQ scores drop to 644
• April 8: TU and EQ scores rise to 706
• April 20: TU and EQ scores drop to 646.

I'm sure my scores will go up to 706 today or tomorrow but what in the world is happening? I'm using Credit Karma, Credit Sesame and Mint to monitor the above scores. I understand that those are not representative of true FICO scores, but since they are all reporting the same drops and increases, there must be something going on. 

As far as credit utilization/changes/etc., nothing abnormal has gone on. I haven't opened any new accounts or loans, or closed any old accounts. Any credit cards that carry a balance get paid off in full when the statement cuts. 

Thanks in advance for any help!

[jlitnns]

Lol, I thought I was alone. I lost 81 or 82 on CreditKarma in February and came right back a few days later. Don't know what the hell is going on, lol.

[sarge12]

This problem was answered when you said the magic word....CreditKarma....That Vantage 3.0 score is not used by lenders and means nothing. Get FICO scores for free from Creditscorecard.com. It is an experian fico 08 score provided for free by Discover to everyone. If you have a discover card the cards site provides its customers a fico 08 from transunion.

[impactplayer]

Thanks, sarge12. ScoreCard is a lot more encouraging - 774 (EQ) and 775 (TU). I assume it only updates once per month? 

[sarge12]

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@impactplayer wrote:

Thanks, sarge12. ScoreCard is a lot more encouraging - 774 (EQ) and 775 (TU). I assume it only updates once per month? 

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That would be I assume 774(EX) if pulled from creditscorecard.com....I have no source for free pulls from equifax yet. You assume correctly about it updating once per month.

[sarge12]

For the record...CreditKarma, Credit Sesame, and Mint provided scores are all junk. They are real scores, but scores no lender uses. I believe the reason they don't is because they are inaccurate as a predictor with unexplainable swings like you are reporting. They have limited use to become alerted to fraudulant activity and such, but you can pretty much ignore the scores. I would also add that all credit simulators are useless including the one on Myfico.com.

[Anonymous]

Great advice from Sarge above and I'll echo his statement that CK scores are useless.

OP, good job getting your creditscorecard.com EX FICO 08 score.

If you're willing to invest $1, you can do a $1 trial at credit check total and get all 3 of your FICO 08 scores.  It sounds like you have 2/3 of them already, so it would be cool to have the final one (EQ). 

[Anonymous]

The credit journey truly can be a roller coaster ride.