Welcome fo the forums, This would be hard for anyone to diagnose without you knowing what was on your report before the score drop. A late.payment already on there from 2 years ago would not cause this drop. The damage from it was already done.
Do you know what was on your reports?
You need
Do you know what was on your reports?
You need
@Anonymous wrote:I do have a small credit line with AMEX that its was paid off long time ago and I have not used it in the past maybe 3 years and a home depot card that I have not been using in the past 3 years that its also completely paid off, should I close these accounts or maintaing some balance? whats should I do with them, I dont have any plans on using these two cards
IF you're paying an AF on them, typically close it (unless the AF is trivial to you like my $25 Zync which admittedly I more than make up for with Amex offers), otherwise leave it open and use it occasionally to keep the lender from closing it for inactivity is the typically recommended solution... or if it irritates you, just close it.
To your original point, where did you get your scores from specifically, and what was the original score and what's the current one?
To be fair I'd really need to see the before and after reports to be able to tell you anything concrete, there's just so many variables potentially involved; if it was from freecreditreport are you sure it's an Experian FICO score that you received? If it was one of EX's educational scores like the National Equivalency Score they peddle traditionally through their 3rd party sites, all bets are off; however, EX has been rolling out more and more FICO products and I haven't kept track of them.
One curiosity question, what's HELOC current balance / limit?
Do both explicitly say FICO on them? For giggles check the Discover free score that's posted here as that explicitly is an EX FICO 8 score and freecreditscore traditionally has sold a whole bunch of crap in addition to a FICO score, I'd want to make sure I was comparing apples to apples.
The HELOC may or may not be factored into revolving utilization, not sure if the 43/45K puts it above the current line where it would get discounted or counted as installment, but if you've had it for a year it's not that... or at least probably not that, it's impossible to really state how FICO treats HELOCs right now without a lot more data which we don't have.
I'd double-check they were the same score version, and after that probably just /shrug and go on with life. There may have been some detail in the tradelines reporting which caused it (dispute or similar) and you'd have to look with a fine tooth comb to really find it.
I will ask, do you know what your AAOA and oldest account are? This is more to whether the HELOC is factoring in as a 30 day late from that long ago if that's your only negative shouldn't likely have your score at 706 unless you don't have much history... for example I'm above that with far worse negatives on my report without tremendously awesome history either.