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Where are you getting your credit score and notifications from?
Unless your CL on your Kohl's card is 8 dollars, something else is going on.
Which score dropped?
I just received a notification that my score dropped from an 808 to a 740, the alert stated that my Kohl’s account increased a 133% from $3.00 to $7.00? Are you freaking kidding me, could that really cause such a huge drop?
Nope, that balance change had zero impact on your score. You simply received an alert and the new score you were provided with had nothing to do with the alert received.
I'd take a look at all of your reported balances before/after your 68 point change. Only a major utilization change or a change related to payment history (negative information) would result in a point change that high.
@Anonymous wrote:
I just received a notification that my score dropped from an 808 to a 740, the alert stated that my Kohl’s account increased a 133% from $3.00 to $7.00? Are you freaking kidding me, could that really cause such a huge drop?Nope, that balance change had zero impact on your score. You simply received an alert and the new score you were provided with had nothing to do with the alert received.
I'd take a look at all of your reported balances before/after your 68 point change. Only a major utilization change or a change related to payment history (negative information) would result in a point change that high.
Exactly this above.
Something else is going on. That is a major drop. Usually something fairly significant would be the cause for this. I am curious to know if you have found anything since last night? From the scores that you had, my assumption is that you are on top of your credit, so there shouldn't have been any surprise or something you did not see coming. Maybe there is an error that popped up in the reporting, who knows. I hope you get it figured out though.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@bobvette wrote:
I just received a notification that my score dropped from an 808 to a 740, the alert stated that my Kohl’s account increased a 133% from $3.00 to $7.00? Are you freaking kidding me, could that really cause such a huge drop?
Go through your reports. See what is actually reporting. Was a negative added to the report? Like a late payment? Was there a significant boost in utilization?
I spoke with Equifax and it has been determined that they placed a medical collection on my account in error, and are going to promptly remove it. I will say that it stuns me that a medical collection has that much impact, I thought recent changes by the bureaus reduced the impact of a medical collection? The good news is that I will be restored to the 800+ score I had prior to this incident. Thank you everyone for you feedback.