FICO score keeps dropping from the 600's back down into the 500's

[Anonymous]

I am also new to this board. I too have also noticed this. My fico score was in the mid 600's in Dec and then it suddenly dropped to the high 500's. This is the second time this has happened. I don't understand why. I have been paying my bills on time and working really hard to bring my scores up. I have not been declined credit also during this time.

553 Feb 08

597 Mar 08

614 Apr 08

586 May 08

593 Jun 08

565 Jul 08

588 Aug 08

611 Sep 08

611 Oct 08

626 Nov 08

634 Dec 08

575 Jan 09

Message Edited by jaleroca on 02-04-2009 02:49 PM

Message Edited by jaleroca on 02-04-2009 02:50 PM

Message Edited by jaleroca on 02-04-2009 02:50 PM

Message Edited by jaleroca on 02-04-2009 02:51 PM

I edited the subject line to form a new thread title. Nothing else was changed. --hauling

Message Edited by haulingthescoreup on 02-04-2009 05:15 PM

[haulingthescoreup]

Hi, jaleroca, welcome to the forums!

I assume that this is your FICO Equifax (EQ) score?

What are the positive and negative reasons that you get on screen two of your score reports? How many total accounts, how many revolving accounts, how many report balances, what is your util (uitilization; amount owed divided by credit limit), what baddies have you had? All these work together to affect your scores.

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.

I'm splitting your post off to create its own thread, so that Jianson (the OP, or original poster) won't be thread-jacked.




edited to add new thread title

Message Edited by haulingthescoreup on 02-04-2009 05:16 PM

Message Edited by llecs on 02-06-2009 03:10 PM

[Anonymous]

Same thing keeps happening to my scores too...everytime I get into 600's it bumps back into upper 500's. I have a theory that it is due to my BK and Foreclosure ( catastrophic med bills). I think that it is in the model that until a certain number of years out that I will keep getting bumped back down. I have been like gold making my payments and keeping utilization low. I don't know if that is the REAL reason but my BK falls off in 2011 so I hope I get a break  eventually ! LOL!!!

[Anonymous]

My question is this, Is it normal for fico scores to drop so drastically as in my case but take a long time to boost? It seems as if a million negative things were reported on me but that has not been the case. In fact I have been paying on time.