Experian score dropped 17 points

Anonymous · ‎01-04-2020

I had an Experian score of a 755 and it dropped to a 738 the only thing on my report that changed is my student loans going out of deferment so now they’re reported as open accounts. My installment debt went from $17,532 to $27,918. Would that be the reason for the 17 point drop? Btw this information is from the Experian app

thornback · ‎01-04-2020

Are your loan balances now over their initial loan amounts due to interest?

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.

Anonymous · ‎01-04-2020

@thornback yes $392 more my initial loan was $10,000 now it’s $10,392. And I have an $17,000 car loan

thornback · ‎01-04-2020

That could be why. Over 100% util on the loans. If you pay the overage amount, you may get your points back...

How old is your car loan?

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.

Anonymous · ‎01-04-2020

@thornback my car loan is only a year old. My student loan came out of deferment last month on the 19th then today it updated with them out of deferment and that’s when my score dropped

thornback · ‎01-04-2020

Yeah. Looks like that's where the penalty stems from if there have been no other changes. Equifax did the same for me when my loans came out with capitalized interest over the loan amount, but EX and TU did not budge. When I paid the all below 100% util, I regained those lost points.

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"

Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA: 4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:

Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.

Anonymous · ‎01-04-2020

@thornback yes because I didn’t see a score drop from the other two well yet but thanks for the help!