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Score dropped 28 points! (here's why...but why did this happen??)

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Score dropped 28 points! (here's why...but why did this happen??)

I noticed that my score dropped yesterday 28 points on Transunion!!! (I have a subscription to MYFICO to keep up with it)
TU only, no other drops on the other two.

 

My scores are 814, 804 and now 790.  (was 818) 

 

28 points is crazy.

And out of the blue with no rhyme or reason that I could tell. So I looked a little deeper. 

 

It appears that I had an old account with a credit union that has been paid off for quite a while but all 3 agencies were still reporting it.

 

Well, as of June's report, it is gone from TU. They dropped it or something. The other 2 are still showing it. 
So now I know why my score dropped so much but wow.

 

Why would it suddenly drop off of my report from TU?? I didn't ask to have it removed. 
We are starting the house buying process within weeks and now my score dropped 28 points for something like this??

 

What can I do? Anything? 

Message 1 of 64
63 REPLIES 63
Community Leader
Senior Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

How "old" was the account? Accounts can stay on reports up to 10 years, if that time has surpassed it might have just dropped off. Not much you can do though.

EXP 760 TU 781 EQ 733
Message 2 of 64
New Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

The last report date was 2010 on that one. Bummer! 

Does that rebound pretty quickly or do my other accounts just need to continue to age?  (as in slowly but surely?)

Message 3 of 64
Valued Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

It's just a time issue to recover some points.  If you have some balances somewhere you could prop it up a bit for vanity but, if you're looking to score a large Loan anything over 760 doesn't make much difference.

500K+ TCL / 800+ FCOs
Message 4 of 64
Moderator Emeritus

Re: Score dropped 28 points! (here's why...but why did this happen??)

Hey Niela,

 

Would it be possible to post what your original vs. new oldest account is, and also what your original vs. new AAOA is too?  28 points seems like a lot to me too for one account wandering away but potentially with a major stat move in one or both of those two categories, well, maybe.




        
Message 5 of 64
New Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

@revelate 

 

Our new oldest account for TU is 2011 (still open account). The one that fell off was closed and was from 2010 and it was the oldest showing on my report. 

AAOA other than that...is around 2017. With one new account this year. Jan 2019.

 

 

 

 

 

 

 

Message 6 of 64
Established Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

The account that aged off 2010 last date reported, when did it open compared to your next oldest account (revolving or loan)?.

If it happened to be an auto loan for example that opened in 2005 you had 14 years till it aged off from it being paid in full. Your now oldest one in 2011 is that the opening date, or like your other one, paid off, and last payment date? 

 

That is why it is good on CCs, to keep your oldest revolver open, as it does not have a fixed term like installment loans.

 

 

Message 7 of 64
Moderator Emeritus

Re: Score dropped 28 points! (here's why...but why did this happen??)


@niela19 wrote:

@revelate 

 

Our new oldest account for TU is 2011 (still open account). The one that fell off was closed and was from 2010 and it was the oldest showing on my report. 

AAOA other than that...is around 2017. With one new account this year. Jan 2019.

 


For an AAOA metric actually need the months, if you want to report the open month/year for all of your accounts open and closed including the one that fell off we can crunch the numbers for you or there's online AAOA calculators too like https://aaoa-calculator.org/

 

Maybe you stumbled over a AOOA metric, there specific month/year open date would also be helpful.




        
Message 8 of 64
Valued Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

That’s exactly what I’m thinking that’s way too big I smell re-bucketing.

Wouldn’t it make sense if it followed a series of AAoA awards?








(Installment loan reported, but AoYA points were NOT reset.)
Scores AUG 4, 2019.


You can see the score changes 3 months after adding 6 cards, 5 reported.







(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated NOV'19.
Message 9 of 64
New Contributor

Re: Score dropped 28 points! (here's why...but why did this happen??)

I did the calculator and it said the average age of my accounts was 7 years.
The one that dropped off was opened in 1996, last activity 2009, last update 2010.

 

Just to note, I utilize less than 5% of credit consistently. (payoff each month, only use 2 cards at a time, etc)
Nothing to note other than normal behavior as such. No new accounts, nothing changed...except that account falling off TU. (it only dropped from TU, still showing on the other 2 and the only score that dropped also )

 

What is rebucketing??

Message 10 of 64
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