experian 40 point drop

[Anonymous]

today my experian droped from 680  down to  640,     i had 2 changes , what effected it more..

New Autoloan    for $20k    or      1 credit card over the limit by $8 ($408)  my today utilization is at 20%  

the over the limit card was only over the limit for 3 days, and my luck it was the exact day they reported...lol   now balance is 0..

[myjourney]

Most likely a combination of a few things at play here:

The over limit ....this will recover next month since Fico has no memory of UTL and you've paid off balance 

The new HP for the auto loan 

Depending on thick or thin file (CR) ....If thin most of point loss was probably the result of the HP

Congrats on the new ride and enjoy 

[takeshi74]

We can guess but you'll be able to confirm when the balance updates on that card.  It's difficult to guess though as it's not just a matter of the changes but of your credit profile and how the changes impacted your profile.  Being overlimit will hurt but that card has a low limit and even overlimit it probably doesn't have all that much impact on your revolving utilization (you can do the math since we don't have the details to do so ourselves).  However, it is a card with not noyl high utilization but a maxed card as well.   The new account certainly has impact but how much is difficult to say.  Again, we don't have much info.  You can calculate the impact to your AAoA.

Either way you should carefully review your reports and work on the items dragging your scores down.

[designated_knitter]

Interesting -- I wonder if Experian has tinkered with their scoring algorithm because I had a VERY unexpeceted 45-point drop.  It came the day after an credit card was flagged as Over Limit .   However, I have other cards that are over limit and that had gone over limit (and some back under limit) in the last year since I started tracking and NEVER had that kind of volatility.  

The previous month I had a 30-day past due (I moved and set 6000 bucks on fire in 3 weeks... car payment didn't make the cut!) and NONE of my scores tanked like that so was REALLY surprised to see the EX score drop this month (now that my car payment is back on track and another card is under limit etc.).

Experian used to be (by far) my highest score... now they are down in the dumps with EQ.  

[NRB525]

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@designated_knitter wrote:

Interesting -- I wonder if Experian has tinkered with their scoring algorithm because I had a VERY unexpeceted 45-point drop.  It came the day after an credit card was flagged as Over Limit .   However, I have other cards that are over limit and that had gone over limit (and some back under limit) in the last year since I started tracking and NEVER had that kind of volatility.  

The previous month I had a 30-day past due (I moved and set 6000 bucks on fire in 3 weeks... car payment didn't make the cut!) and NONE of my scores tanked like that so was REALLY surprised to see the EX score drop this month (now that my car payment is back on track and another card is under limit etc.).

Experian used to be (by far) my highest score... now they are down in the dumps with EQ.  

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My experience with EX is very very lumpy score moves. TU and EQ see quite regular updates on predictable triggers, while EX sits there doing nothing, then moves a bunch at a time.

Did you really burn up $6k in currency?   Sorry about all the trials and tribulations, I'd take a guess that EX is just gathering those up for a quick drop.