Credit score drop

[bobnathan0295]

My vantage 3.0 score dropped 88 points (750 to 662) because my $750,000 mortgage got reported today.  My Experian Fico score is 656. I expect it to drop because of the mortgage has not been reported to Experian yet.

My credit card debt is $2000. Credit utilization is 10%. I have 5 credit card accounts with $16000 credit limit. I still have dozen late credit card payments and one chargeoff that was settled in 2020.

Is there any chance any of my credit card companies reduce the credit card limits ?

[folks19]

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@bobnathan0295 wrote:

My vantage 3.0 score dropped 88 points (750 to 662) because my $750,000 mortgage got reported today.  My Experian Fico score is 656. I expect it to drop because of the mortgage has not been reported to Experian yet.

My credit card debt is $2000. Credit utilization is 10%. I have 5 credit card accounts with $16000 credit limit. I still have dozen late credit card payments and one chargeoff that was settled in 2020.

Is there any chance any of my credit card companies reduce the credit card limits ?

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It is unlikely they will reduce your limit just because of a score decrease. They may reduce your limit if there was an actual change in how you manage your debt, especially with the creditor, say if you miss a payment or defaulted on another loan.