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According to Credit Karma my credit score dropped 31 points out the blue. Should I be nervous?
Not even a little bit.
Have you ever pulled your reports from annual? When was the last time you checked them?
Yeah in January, They were in the 650ish.
Do you belong to any CMS?
Perhaps look at joining USAA CMS and see all 3 of their reports for any changes that may have impacted you, that are NOT your doing.
The only thing I did in the past month was pay my bills on time and closed a account I had just got and never used. I got a applied bank credit card but at the bank the capitalone helper suggested I apply for a regular card. I was approved and I closed the account I never used. I only had it for a month.
@Anonymous wrote:The only thing I did in the past month was pay my bills on time and closed a account I had just got and never used. I got a applied bank credit card but at the bank the capitalone helper suggested I apply for a regular card. I was approved and I closed the account I never used. I only had it for a month.
Sounds like two possible things occured to lower your score, at least your FAKO score that is. App resulted in a HP and closing account may have increased your Util%
Utilization went 7% lower. Currently at 12%. I guess its just the volatility of a FAKO score.
@Anonymous wrote:Utilization went 7% lower. Currently at 12%. I guess its just the volatility of a FAKO score.
+1. I wouldn't read anything into your FICO scores based on a change to your FAKO score.
@annielorie wrote:Also your AAOA took a hit when you closed the account could be the reason for a score decrease.
This shouldn't be the case. Closed accounts are included in AAoA calculations. I don't know, maybe not in CKs FAKO they aren't. In a real FICO they are still included as long as they report, which is usually 10 years after being closed.