Question about recent point drop..

[cwwatts1202]

My husband had a 101 pt increase from early march to early April, his score got up to a 612, then on April 2nd-ish dropped 30 points. I have not been able to figure out what caused this point drop. I have been trying to build his credit back and in doing so I app'd for a walmart store card (denied), Cap 1 secrued (approved $99 deposit), and for Fingerhut (approved for fresh start $230 limit) all within that month. Could those 3 HP's have caused a 30 pt drop? We also had a FP cc that got CO in late 2012 (sister stole it, didn't want to get her in trouble etc.) that balance was like $370 something, we settled for $270 something in Feb, but instead of reporting $0 and paid/settled, it reported a $96 balance, and his score went up (due to the utilization going down) then it reported $0 and settled in late march, could this card closing with a $0 balance and settled have caused the drop? I was actually expecting another increase when it reported to $0. It is still actually showing as a negative indicator on his CR... even though it's settled. I just can not figure out what caused such a large drop and it's driving me nuts!! Since the drop his score has gone up 2 pts, the only thing that has changed since the drop is the Fingerhut acct reporting, it's currently reporting as an installment loan but we finished the fresh start program so he'll be getting the revolving acct soon. 

[cwwatts1202]

anyone??

[Shogun]

Looks like a lot is going on with your CR.  Y'ou've had some Inqs there, that will drop it.  Where are you getting your scores from?  That also makes a difference.

[cwwatts1202]

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@Shogun wrote:

Looks like a lot is going on with your CR.  Y'ou've had some Inqs there, that will drop it.  Where are you getting your scores from?  That also makes a difference.

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I am referring my husbands EQ FICO from SW that has dropped. The only recent things going on are 3 Inq's, a collection aged off, and the CO FP card reported a $0 balance and settled. I can't think of any of that causing a 30 pt drop though.. but that's why i'm asking I dont have a lot of experience in what causes drops. 

[Shogun]

The CO'd FP card was probably still giving you a revolv with a util that factored into the score. 

[cwwatts1202]

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@Shogun wrote:

The CO'd FP card was probably still giving you a revolv with a util that factored into the score. 

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That's kind of what I thought. Just wasn't sure with it being CO if it was still factoring at all, but his score did go up pretty good (around 20 pts) when it went from $372 to $96. Well hopefully the cap 1 that will be reporting soon and the Fingerhut revolving acct will help get those 30 pts back! Thanks for your help!

[Anonymous]

If the FP CO was factored into utilization, the only way it would cause a score drop would be when it was removed from factoring in it lowered his overall CL and his utilzation went up dropping his score.

[cwwatts1202]

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@Anonymous wrote:

If the FP CO was factored into utilization, the only way it would cause a score drop would be when it was removed from factoring in it lowered his overall CL and his utilzation went up dropping his score.

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I'm pretty sure it was factored in bc when we paid the settlement amt, it went from like $372 to $96, but didnt update to settled bc the CA had not yet notified FP that it was a settlement payment and not just a payment, and when it went from $372 to $96, he got a pretty big score bump.