@Anonymous wrote:Hello Everyone !! I have posted in some other areas recently trying to figure out the reason for 62 point drop in Sept. Short story, discharged from BK over 2 years ago. Worked myself crazy since then to improve credit scores. Everything was looking up. In August of 2016, my scores were at Eq - 718, Exp - 705, TU - 702.
In September of 2016, I rec' 3 alerts from all 3 bureaus after 2 of my cards reported a small balace at the same time. My error, as always report one card. So I figured okay, next month I wil bounce back with just one card reporting, well that never happened. Could never conceive that a drop like this was due to 2 cards reporting a small balance, but continued to hold hope. As time has passed with no change, I decided to start digging further and was not having any luck until I came upon this.
During recovery from BK, my husband and I CR is nearly identical. Applied for same cards approx same time etc etc. Only difference I had myself as a AU on one of his Cap 1 cards that we had obtained in Oct of 2014. The card was always in good standing, no issues. When Sept came of this year, I figured I really dont need to be an AU on his card, I have my own, so we removed myself from his Cap 1. Now, I have to mention that sometimes while I was a AU on his card, his card would report and one of mine at the same time during that 2 year process, it actually seemed to help me, and I never rec'd a score drop. Balances were always low around 1 to 3 %.
So now, again comes Sept, and I remove myself as AU from this card and KABOOM, my score tanks by 62 points.
So, now I say to myself, should I put myself back on his card as an AU to get the points hopefully back. This was all bad timing as we are planning on going for a mortgage vry shortly and could certainly use these points back.
Any suggestions? Cannot seem to find any other reason for this drastic score drop in Sept.
Not a good idea to make changes when about to apply for a mortgage. While I don't know what caused the score drop I would certainly hasten to restore the status quo, and then be sure to give it some time to report, then pull a 3B report well before any mortgage application.
@Anonymous wrote:Mortgage app is stil about 3 to 4 months away. Are you saying don't add myself back as an AU? Would it not be worth it to see if I could get those points back. The card is in great standing, barely used and PIF every month.
AU's are helpful: clean, and longer = better.
In particular, if it's substantially older than either your oldest account, or your Average Age of Accounts, then do so. The algorithms used for mortgage underwriting absolutely factor in AU's, so if it's clean and benefits you in either of the two categories listed, go for it.
Depending on number of tradelines might also help in terms of file thickness but that's a secondary issue.
