SCORE DROP 17 PTS????

[Anonymous]

Feb 21 score was 704. March 4 score was 687. I went through both reports. Nothing changed. UTIL % actually went down. No new inquiries. No new accounts. NOTHING changed.

Any ideas?

[llecs]

Where did the report come from and which CRA was it?

[Anonymous]

Myfico.com and TU. I just spoke with a myfico rep and she mentioned that before inquiries were hurting my score, but once a few fell off it took a bigger deduction due to many accounts. I have MANY closed accounts with 0 balance from years ago. Wonder if I should dispute and have em removed.

[MarineVietVet]

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@Anonymous wrote:

Myfico.com and TU. I just spoke with a myfico rep and she mentioned that before inquiries were hurting my score, but once a few fell off it took a bigger deduction due to many accounts. I have MANY closed accounts with 0 balance from years ago. Wonder if I should dispute and have em removed.

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NO

NO

and NO!!!  

Closed accounts generally stay for up to 10 years after closing but on rare ocaasions they remain longer and your AAoA and credit length history continue to be helped as long as they report.

Did I mention not to remove these? 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Ill get a bit more specific.

Also insead of the too many inquires being the 3rd factor to keep my score down....now its too many accounts(and it lists 50)

There are a few credit card accounts that I used for transfer purposes that only stayed open a few months. (I got into CC debt..those are reasons)

On Feb 21st,2011 my TU score was 704. Today(March 4) it was 687. UTIL went down 1% and 2 inquiries dropped off. I only have about 12 open at this time, as the rest are positive accounts, but very old with 0 balance.  Ill just be picky about which ones so I dont drive my average length down.

Still no?

[Anonymous]

So I never figured the closed positive accounts affected my scores in a negative way, but maybe they do or are in this case?

17 points is a big drop....

[MarineVietVet]

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@Anonymous wrote:

Ill get a bit more specific.

Also insead of the too many inquires being the 3rd factor to keep my score down....now its too many accounts(and it lists 50)

There are a few credit card accounts that I used for transfer purposes that only stayed open a few months. (I got into CC debt..those are reasons)

On Feb 21st,2011 my TU score was 704. Today(March 4) it was 687. UTIL went down 1% and 2 inquiries dropped off. I only have about 12 open at this time, as the rest are positive accounts, but very old with 0 balance.  Ill just be picky about which ones so I dont drive my average length down.

Still no?

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Any closed account in good standing I would leave alone but that's up to you.

The notation of "too many accounts" is IMO a very small ding (If any at all. Sometimes I think at a certain point the nitpicking begins on reasons your score might be affected) and not worth worrying about.

But others might have different opinions.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

I would much rather stay out of the realm of disputing, but this drop has also kicked me into a lower tier loan % rate wise. Seems like two positive things happened and it dropped by a large portion. Not real sure what to do here.

[Anonymous]

Disputing ANY accurate info on your CR is one of the things we don't advocate on these boards. 

And practically speaking, you can cause a big mess if you dispute accurate accounts.  You don't want that.

If these accounts are reporting closed, leave them be. Sometimes old accounts still report as open even though they haven't been used in eons.

It looks like you've reviewed your accounts to see if any of the old ones are still reporting open?

DH has a very old furniture store account that hasn't been used in ages and is still open on TU and EQ.......we had to really read the fine print to figure that out.

Interestingly enough, the furniture store can't find him in their records and he can't use the account!

[Anonymous]

I do have several that report open, but I have requested them be closed and they were closed. Should I dispute these? Or leave it be? How could this drop my account 17 points or am I looking in the wrong direction. If my score can drop 17 points for now reason. I will lose faith in this system.