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FICO 26 Points

rushingjr
Valued Member

FICO 26 Points

Email from Experian membership says my FICO score increased, so I check and see it increased 3 points...after a 26 point drop 2 weeks ago!!  

I had a credit limit and balance increase on my daughter's student loan from $8K to $16K (I'm cosigner) May 8

FICO score decrease 3 points, May 9

FICO score increase 3 points, May 23

FICO score decrease 26 points, June 6

FICO score increase  3 points, June 20

 

Could the student loan be the problem?  How do I fix this?

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2 REPLIES 2
FireMedic1
Community Leader
Super Contributor

Re: FICO 26 Points

Are you talking about putting your daughters student expenses on a CC? Whats the credit limit? If so. The balance increase passed some thresholds of amount owed. That would explain the dip in scores.

 

This part is a bit confusing: "I had a credit limit and balance increase on my daughter's student loan from $8K to $16K (I'm cosigner) May 8"

 




Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
Message 2 of 3
rushingjr
Valued Member

Re: FICO 26 Points

Sorry for the confusion and delay.  After looking at what I typed, I'm confused too.  My daughter had a PLUS loan that went from $8k to $16k.  I was wondering if that increase was the reason for the 26 point dip.  If so, parents should have **bleep**ty credit scores for getting PLUS loans for their kids.  

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