Trans and Equifax drop significantly due to credit pull

[messy_hair]

I recently applied for a preapproval for a mortgage on a house causing my Trans and Equifax to both drop 80 points where as my experian only dropped 12. Why did this happen? I checked both of my credit reports and there is nothing derogitory on either reports.

[Jnbmom]

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@messy_hair wrote:

I recently applied for a preapproval for a mortgage on a house causing my Trans and Equifax to both drop 80 points where as my experian only dropped 12. Why did this happen? I checked both of my credit reports and there is nothing derogitory on either reports.

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Where are you getting your scores from? You mention TU and EQ so is this from credit karma? These are not FICO scores and inquiries will not drop your scores  by 80 points .

[messy_hair]

I got these from scores from experians site.

[Jnbmom]

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@messy_hair wrote:

I got these from scores from experians site.

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I would go through each report then and compare, again inquires are not going to drop by that much there has to be something else that changed on your reports .

[SouthJamaica]

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@messy_hair wrote:

I got these from scores from experians site.

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Please show us a screen shot.

[SDMarik]

If you are, in fact, looking at Fico scores than there is certainly something else going on. If they are Vantage scores, they don't mean anything so whatever. But one Inquiry will not drop your score 80 points, that's a huge move. I would pull all of your Fico reports and take a better look at what's going on.

[AndySoCal]

@messy_hair  The usual reason for a large score drop of 80 points or more is derogatory information has been reported. Go to annualcreditreport.com  and pull your Tran  Union and Equifax credit reports

[messy_hair]

Here is what I found. 

I had two student loans that were in default for two years. I decided to pay them off in full during winter of 2021. Everything went fine and smooth. Today I realized that these two "things" were posted to my credit report in June of this year. What are these? And why are they on my credit report hurting my score?

[AndySoCal]

@messy_hair  What is making those two accounts hurt your score is the status they were in during default. From the status comment they were in collection or charge off status before you paid them off.  On Annualcreditreport.com reports it will show you the date pad last payment date for those tradelines if that reflects when you paid them off that is about all you can do. Whatever you do not dispute those tradelines  otherwise the reported date will move forward to reflect the status of the account at the time of the dispute.  I am slighly confused you post stated it was Trans Union and Equifax that had the large score drop. The trade lines posted are from an Experian report.  Were these tradeslines also repored to trans union and Equifax recently ?

[SDMarik]

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@messy_hair wrote:

Here is what I found. 

I had two student loans that were in default for two years. I decided to pay them off in full during winter of 2021. Everything went fine and smooth. Today I realized that these two "things" were posted to my credit report in June of this year. What are these? And why are they on my credit report hurting my score?

That is what is causing the score drop. Even though you paid them, they have hit your account as a collection/charge off. It's good that it is there as paid, but it is still there. Unfortunately that is going to sting for a little while, but the impact will lessen over time. If the information is acurate, as it appears to be based on what you said, there is not much that can be done about it. It is someone letting the CRA's know that you had an account in collections/get charged off. You can try a goodwill letter to see if they will delete it, but if not, it is what it is.

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EDIT: I'm not sure how well a goodwill letter will work with US Dept of Education.