Score dropped 86 points overnight

[Anonymous]

Please help, I am so confused... I have been working very, very hard on my credit for the last 6 months and I have managed to bring my credit score up about 60-80 points per agency.  However, I just got a notice from equifax that my score dropped 86 points and the only thing showing is an inquiry....

I have been current on all of my accounts since October of 2006 and I recently opened a new credit card (with a $300) on the advice of a rep at Equifax... so, what gives?  I am so confused...But I am in the middle of refinancing my house so needless to say I am pretty concerned.

Thanks.

Message Edited by jg65 on 03-31-2007 11:42 PM

[Anonymous]

Time to pull another score.  Are you basing the fact that an inquiry is the only thing that chagned on your report based on the scorewatch or have you actualy oulled a new report?  Several things could have happene scorewatch has been really slow in updating).  There could be a new collection on file (one of the few things that I know of that could cause such a drop).  An old closed account could have fallen off significantly reaging your credit history (that happened to friend of mine and he took a similar hit).  I was surprised to find out hat it doesn't matter if its a good account or a collection, if it is the oldest account on your history and there was a significant lag between opening that account and subsequent accounts the effect can  be the same.

Take a look and let us know what you find out.