Credit score dropped twenty points!

[Anonymous]

My bankruptcy hit the eight year mark this week. My Amex fico score was 724 now it’s 704. Absolutely nothing changed. I have 0% utilization. Nothing closed or dropped off. My credit score hadn’t moved in six months. Didn’t apply for anything so I can’t understsnd why it would drop so drastically.. help!!! I’ve worked so hard.

[2GreenThumbs]

---

@Anonymous wrote:
My bankruptcy hit the eight year mark this week. My Amex fico score was 724 now it’s 704. Absolutely nothing changed. I have 0% utilization. Nothing closed or dropped off. My credit score hadn’t moved in six months. Didn’t apply for anything so I can’t understsnd why it would drop so drastically.. help!!! I’ve worked so hard.

---

I'm by no means an expert, but I've been learning from these forums for the past 2.5 years.  From what I understand, you will take a hit for 0% util.  I think the magic number is 8.9% utilization.  You have to show that you're using your credit responsibly. Showing 0% looks like you're not using it at all.

[SouthJamaica]

---

@Anonymous wrote:
My bankruptcy hit the eight year mark this week. My Amex fico score was 724 now it’s 704. Absolutely nothing changed. I have 0% utilization. Nothing closed or dropped off. My credit score hadn’t moved in six months. Didn’t apply for anything so I can’t understsnd why it would drop so drastically.. help!!! I’ve worked so hard.

---

1. I can assure you something has changed.

2. Can you tell us more about your profile so we can help you figure it out.

E.g., # revolving accounts, limits, balances reported

         # installment accounts, original loan amounts, current balances

3. Are you actually able to compare your before & after credit reports, which is the only way to find out what changed.

[Anonymous]

---

@2GreenThumbs wrote:

---

I'm by no means an expert, but I've been learning from these forums for the past 2.5 years.  From what I understand, you will take a hit for 0% util.  I think the magic number is 8.9% utilization.  You have to show that you're using your credit responsibly. Showing 0% looks like you're not using it at all.

---

But if his before/after utilization here was 0%, that factor would not have dropped his score, as he would have already been realizing the "no revolving credit use" penalty with his first provided score.

SJ is 100% correct that something else changed.

With the limited information provided, my guess would be that something less obvious happened, like an old account falling off that lowered AAoA and possibly AoOA here.

[expatCanuck]

One other point -- Amex has been playing 'musical scores' lately, showing a FICO score (buried in menus) and some other score displayed up front that I've ignored.  We're for sure talking the FICO score, yes?

[Anonymous]

Thank you for helping. This is an actual Fico score from AmEx which is through Experian. I also use credit Karma andcit has not alerted me that anything changed. I do understand that it’s not Experian though. I have 0% utilization. Mortgage and car loan two years old each. Never late.

[Anonymous]

Not everything that can affect your score is set up to trigger an alert. There is something buried in there that hit your account and caused the score change. Unfortunately only some of those things will alert you through the site monitors.

[Anonymous]

---

@Anonymous wrote:
Not everything that can affect your score is set up to trigger an alert. There is something buried in there that hit your account and caused the score change. Unfortunately only some of those things will alert you through the site monitors.

---

Or, something that was removed (not necessarily added) to his CR.

[Anonymous]

I contacted Experian. Seems as though two old accounts fell off so it lowered my score ten points each. She said I have another falling off in June so I’ll get hit again I’m sure. I do have three hard hits falling off in May. Will that offset my next account falling off. She said they fall off every ten years.

[Anonymous]

What are the derogs that are falling off in May? And what will be your AoOA once the final one falls off in June? (What’s the total age of that account too?)

Knowing this, we may be able to give you a guess at how it will shake out but it won’t be more than an estimate, since scoring is dependent on one’s total profile.