quirkypixie wrote:
So.......I had a fico drop of 12 points, for no reason!!!!!! I have compared everything side by side, nothing has changed.
So frustrating.......we are planning on applying for a loan today, and this took us out of the lower interest rate bracket......I am so mad!!!!!!!
Fico has been stable for 2 weeks, and then a sudden unexplainable drop!!!!!!
First off, don't rely on the interest rates listed in your FICO CRs. I've read from others that the estimate is off. Actually off in your favor. Expect a lower rate from what you see in there.
Take your reports (before and after) and lay it side-by-side:
Make sure all you accounts are the same.
Make sure balances are exactly equal.
Make sure the lates (if any) are still in the same position as they were before.
Make sure you don't have any new accounts listed (these can damage your history).
Make sure each account is classified the same as before (paid as agreed, CO/collection, etc.).
Make sure no lates were added.
Make sure utilization is exactly the same.
Make sure avg. history is the same.
If utilization is the same, make sure you didn't shift debt. FICO counts individual utilization too.
Make sure all your CC balances don't read $0. Leave 1/2 with a balance of at least $1.
Make sure you didn't pay any collections....that has been known to affect your score.
Make sure you didn't pay off any loans.
Make sure you didn't close any accounts.
Finally.....and there might be more...make sure you didn't dispute anything, as disputing an old baddie can actually hurt your score.