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Score dropped from 743 to 625

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Member

Score dropped from 743 to 625

It's a little late, but I decided to check my experian since I disputed a fraudulently opened account about a month ago. When I logged in I noticed my score had dropped 118 points. I worked so hard to get my scores up after this ID theft. I'm going to call the number experian has listed for disputes of ID theft. The account was opened in 2016 but I didn't find out about it until 2018. I disputed through equifax and transunion first and it appears they removed it from my report. After that I had to rebuild with a secured card. After that I created an account with experian and noticed the fraudulent account was still reporting with them. I thought nothing of it for a few months until I finally decided to dispute it through them as well. I figured it worked with the other 2 so why not. Today I go to check my scores and see if there's an update on my dispute. my score dropped from 743 to 625. Credit rating went from very good to fair. Does anyone have any experience with this? Will calling the number provided help at all? I probably won't see any answers until tomorrow if I can get any sleep at all after this. Thanks in advance, any help is appreciated.

 
Message 1 of 8
7 REPLIES 7
Senior Contributor

Re: Score dropped from 743 to 625

Try calling the creditor and telling them it wasnt you. Let them delete it. Work both sides.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC.
Message 2 of 8
Valued Contributor

Re: Score dropped from 743 to 625


@FireMedic1 wrote:

Try calling the creditor and telling them it wasnt you. Let them delete it. Work both sides.


+1

 

I would file a police report, as the creditor might require that.

 

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 3 of 8
Valued Contributor

Re: Score dropped from 743 to 625

What they said.

I had fraudulent accounts, I had to call the original creditor.  The reporting agencies are just that - reporting.  They are operating on what they are told by lenders/creditors/FI.

You need to talk to the fraud department with the creditor(s) and work it out, and having that police report (regarding identity theft) will help verify what happened.




Garden goal: Completely clean reports and a gold spade (which, at my current rate, is never going to happen...)
Message 4 of 8
New Member

Re: Score dropped from 743 to 625

The account is from 2016 and I discover it in mid 2018. When I found it I was checking credit karma out of curiosity since I had never before owned a credit card. I immediately disputed through them and the accounts were removed from tu and eq and no longer show up on those reports. I found experian in early 2019 and saw the account was still reporting for them. I didn't think too much of it until recently when I decided I should dispute it since it was not mine. The report shows the account was opened in june of 2016 and went delinquent in october of 2016. Whoever it was used $670 of a $500 credit limit. Is it still possible to file a police report after all this time or am I just screwed at this point. Maybe I should have just left it alone. My score was very good at 743. Guess I opened up a real can of worms with this.

Message 5 of 8
Frequent Contributor

Re: Score dropped from 743 to 625

@GoldenHaze,

 

Sorry to hear about the troubles you're having. I've been a victim of identiy theft so sadly I feel your pain. Did the removal of the tradeline off Experian cause the score drop OR is the tradeline still reporting?

 

 









Message 6 of 8
Established Contributor

Re: Score dropped from 743 to 625

Some really excellent advice posted here.  I hope it all works out for you.

Message 7 of 8
Valued Contributor

Re: Score dropped from 743 to 625


@Hasselfree wrote:

Some really excellent advice posted here.  I hope it all works out for you.


Keep us posted.

 

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 8 of 8