HUGE DROP IN FICO SCORE ???

[Anonymous]

I have been monitoring our scores the last quarter and have been paying down debt.  Our scores have increased from 690 to about 745 on experian in particular. However, the last scores we pulling show our scored dropped from 745 to 689.  The problem is we have no new inquires and no new credit or increased our debt.  In fact, we have about 3K less debt than we did before.  I compaired my 745 credit report to my most resent 689 report, and the only difference is we have less debt.  Can anyone explain how this happened.  I thought it might be some kind of glitch with the scoring.  I went to experian's website and pulled my credit there and it showe a 705.  This still doesn't explain the huge drop in my score.  Hopefully, someone can help.  Thanks in advance for your help.

[granny031350]

I really don't have an explanation for your drop in scores but I do know that my Experian score dropped by about 20 points 2 months ago with no changes to the credit report.  I thought that they had changed their scoring system to Fico 08 but mods on here say that isn't the case.  But I am with you.  Experian has made some kind of change to their scoring model I do believe.

[Anonymous]

Are you certain ALL sets of scores you refer to are in fact FICO scores? There are a lot of "credit scores" out there, and many of them are not FICO, and therefore can differ from FICO scores by upwards of 80 to 100 points.

[Anonymous]

I have been pulling them from this website.  I just don't understand why the score would drop so much with no activity on my credit except lowering my debt.

[Anonymous]

The only things I can think of:

1) An old, positive account that was giving you history aged off.

2) You got moved to a more advanced scoring bucket. This will cause a zig-zag effect: your score will drop, but in a couple months, it will rise at a faster rate than it did before the drop.