All,
Just wanted to share my recent experience with my Credit Karma account.
In the past week, my Equifax and TransUnion scores dropped 100 and 86 respectively. I have become accustomed to expect my scores on Credit Karma to be a bit lower than my actual Fico's, and it's always been the case. In the past week, my scores took a significant nose dive on Credit Karma for no apparent reason. I even contacted them to see if a reasonable answer could be given.
April 14, the update reflected my credit utilization drop from 24% down to 16% (roughly $9600.00 reduction). Utilizing about $28,000 of $176,400 available. No Lates. No negatives. AAoA is around 4 years 9 months. 21 accounts. good mix. 20 Inquiries on EQ, 14 on TU (all there the week prior to the drop). My Credit Karma scores prior to this drop were both around 700. Now sitting at 615 and 600.
They couldn't give me any explanation as to how the scoring model would produce this result. I certainly would like to think I know what I'm doing! Last time I checked, reducing your utilization is always a good thing! I know my 3 bureau report pulled this morning on Experian agrees with me so..... Anyone.....Beuller! lol
Experian Fico 8 Scores as of this morning:
EX 730 | TU 750 | EQ 734
Scrathing the head here! Please share your thoughts!
Thanks
