Transunion dropped from 840 to 767???

[bilwilvegas]

My Transunion score usually shows as 840 to 850 through my MYFICO account.  As of 3 days ago it dropped from 840 to 767.  I have not opened any new accounts, I pay my full balances daily and have for years, I do not have any new inquiries since I opened 2 Chase business cards 8 months ago.  I am completely baffled.  I immediately went and checked all of my cards.  There is nothing on them, also no limits have been cut.

Can anyone provide insight on why this may have happened?

[GreatLife]

My guess would be a score card reassignment. Forum experts will surely provide some in-depth insight and helpful information.

[Thomas_Thumb]

Scorecard reassignments don't cause a drop like that unless ... You go from a clean to dirty scorecard. However, that means a derogatory has surfaced. Example being a new collection on a charged off, closed, account.

A split file could also be a possibility. Perhaps a business card with high utilization is for some reason now counting toward your personal credit file.

Could your identity have been stolen and an unauthorized card been  opened/used in your name?

In any case, you should be able to see negative reason codes/statements since score dropped below 800. Can you list them?

[finallyfree]

Not an expert or anything, but I had a drop happen like that a few months ago. There was no reson code on the alert. then 2 weeks later the score rebounded, again with no reson code. Figured there was some glitch maybe? 

[Linnaea]

I'm having that happen to me as well this month.  

[SouthJamaica]

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@bilwilvegas wrote:

My Transunion score usually shows as 840 to 850 through my MYFICO account.  As of 3 days ago it dropped from 840 to 767.  I have not opened any new accounts, I pay my full balances daily and have for years, I do not have any new inquiries since I opened 2 Chase business cards 8 months ago.  I am completely baffled.  I immediately went and checked all of my cards.  There is nothing on them, also no limits have been cut.

Can anyone provide insight on why this may have happened?

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You need to pull your TransUnion credit report and see what's up. That's a major change.

[Thomas_Thumb]

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@finallyfree wrote:

Not an expert or anything, but I had a drop happen like that a few months ago. There was no reson code on the alert. then 2 weeks later the score rebounded, again with no reson code. Figured there was some glitch maybe? 

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Now that you mention it, a glitch is certainly a possibility. CAPTOOL reported such an occurance on TU many years ago. His score would increase/decrease 70-80 points almost every other score pull for no apparent reason. This went on for quite some time. The consensus conclusion was an old tax lean that had been removed kept cycling on/off in the background.

Below is a screen capture graph he shared which I saved and a link to that old thread. Unfortunately CAPTOOL has joined the ranks of anonymous and the pictures in his posts have been deleted.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/UPDATED-My-TU-Fico-just-dropped-126-pts-...

[bilwilvegas]

I do not carry any balances on my business cards either.  Pay every balance as they show up daily.

No new accounts or inquiries showing on my credit, so I do not think I had anyone open a card in my name.  I would expect an inquiry and a new account to show long before the score dropped, unless I am mistaken on this part.

Thanks!

[Thomas_Thumb]

I'm no expert on split files but, if you have one, not all accounts or activity may be visable. In any case, look at your reason codes.

Hopefully your score bounces back - but stops bouncing unlike CAPTOOL.

[noonway]

@bilwilvegas a little off topic, but... Have you ever seen any CLD or chasing from paying things off daily?  I tend to follow that behavior myself and am wondering if the CCCs frown on that at all?