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Score dropped 25 points!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Anonymous
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Score dropped 25 points!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hello,
I had a deletion of a charged off account from last year, decided to check myfice scores.  My score are as follows: transunion: 620 experian: 623 Exuifax: 620.....
 
on Experian I have 7 new accounts
1 judgement from 2002
2 collections one will fall off in April 08
 
Transunion:
2 collections
 
Equifax
2 collection
 
I carry a 0 balance of 6 accounts and I opened a loan as a revolving account.
 
Will my score raise by July to at least 650 or above ?
 
 
Message 1 of 2
1 REPLY 1
llecs
Moderator Emeritus

Re: Score dropped 25 points!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Are the 7 new accounts reporting on EX only? I opened 7 new accounts after having 0 before. Once they started reporting on all 3, my score dropped about 50 points on average. It took 4 months for it to jump back up. However, my average age was only 3 yrs.
 
Let 2 or 3 of the cards report a balance of $1.00 or greater, but keep under 10%. Oddly enough, $0 balances on all CCs can hurt your score.
 
Loan as a revolving account? Is it a HELOC or a consumer finance loan? It could be hurting your score, but it can't hurt it any more than what it might be doing now.
 
I think you'll hit 650. Don't apply for anything else though. Let it mellow.
Message 2 of 2
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