HELP Please! 😭😭😭

[Anonymous]

@Slabenstein Yes! I've tried so hard to keep my graduation in sight for month 7! Lol I've kept my total utilization at 5% or less every single month.

Thank you again! I'll check again tomorrow at Disco. I bet I'll see an update on my score tomorrow. 🥰

[Rebuild2019]

Hello, If you paid everything off and if nothing is reporting there is a Penalty, which results in a significant point drop. You need at least one card reporting. The $16 would have been good monthly. Let me know if I missed something. Good luck.

[AllZero]

@Anonymous   Free or $1 you can obtain your 3 bureau FICO 8 scores and reports at Experian or CreditCheckTotal (part of Experian). Cancel in 7 day or less to avoid the re-occurring monthly charge. Wash, Rinse, and Repeat as needed.

[Iusedtolurk]

---

@Anonymous wrote:

I'm beside myself! My score just shot down 86 Points!!! But only GOOD things changed! I took screenshots, but it won't allow me to upload images for some reason? Here are ALL of the changes:

DSNB MACY'S Limit Increased $3,000

Cap1 Balance Decreased $16 (Paid Off)

TinkerFCU Personal Loan Decreased by $1,711 (Paid Off)

TinkerFCU Account Closed (Above Account I Paid Off)

TinkerFCU Remark Added To Account (The Above Account)

That's IT... No negatives at all... No new Inquiries or Accounts...

And I even paid EVERYTHING off! I have ZERO debt now!!!

---

The first thing I thought when reading your post about a wild score swing was The op is viewing Vantage scores probably Credit Karma.

(Vantage scores will have you scared to death at huge points loss and fill you with false glee when huge point increases occur-just the nature of the beast).

The second thing that I thought was The op seems to be saying they paid all accounts to zero and if that is so then they suffered a AZ (all zero penalty). You would think that paying all your debts off would be a huge positive (it is for your finances but not for your credit).

Just looking at these basics without specifics would dictate some point loss but not to such a high extent but other factors such as age and scorecards etc. could play a part. A thorough study of your credit reports should provide more information.

You say you don't use ACR. ACR is an abbreviation for annualcreditreport.com where you can go and get your 3 free comprehensive credit reports (scores available if you pay for them) every week for a few more months this year.

If you can budget it you should invest in a service that provides your FICO scores so you can really know what your true scores are that creditors more than likely use (although some have internal scores and criteria they base credit decisions on also).

Before I got serious about rebuilding my credit I thought it was insane to pay for a service to see credit scores and now that I'm serious about rebuilding I know it's insane not to have a service that shows me my Fico scores (classic, auto, bank, mortgage).

The best offense is a good defense and knowing your Fico scores when you are planning on apping for something is a great defense in the credit arena.

ALSO: Your image (screenshot) may have been too large to upload so you would have to reduce it I believe under 1 mb (1000 kb). Any online image reducer will work.

[Doodlebug30]

CK (vantage score) has drastic drops & rises. I really wouldn't panic until you see a true FICO. My score dropped almost 60 pts for opening a new acct & the next week it gave back all my points 🙄 I don't even pay attn to those scores anymore. I simply use CK for monitoring my report. Nothing more. Definitely let a small charge on 1 card report so you don't get the all zero penalty but I wouldnt let ck worry you too much. 

[OmarGB9]

Yea definitely never go by your VantageScores. No lender really uses them, and the point swings on it are crazy. And yes, CK doesn't factor in closed accounts for any of its metrics it appears. I'd recommend pulling your true FICOs to see where you stand using the method posted above by @AllZero.

[Jordan23ww]

I think that your Fico score probably only took a small dip.  I've noticed for me paying off my cards and reporting $0 balances across them all I've lost between 9-15 points max on each bureau on my Fico scores. When I'd check Credit Karma though I lost between 70-80 points.  CK is a lot more sensitive to reporting all $0 balances or showing paid off loans.

 If you can you should try to get your Fico for free using the Experian app/website or the Discover Credit Scorecard site. Both will give you your Experian Fico score for free and update monthly.