why did my score go down when no additional delinquency was added to my score?

Question

my score went down 40 points in the last 2 months but no additional delinquency was added and the 2 credit cards i have say i have paid on time and are currently good with me and the same goes for the single installment loan i have. SO why has this happened?

Answer 1

did you pay off an old debt? strangely enough, when you pay off a very old debt that went into collections years ago, it can HURT your credit, because it brings that bad mark "into the present...that is, where before it was a 6 year old bad debt, now it is a one day old paid bad debt, and with credit reports, recent bad marks weigh heavily.

After 7 years, you may want to NEVER pay a bad debt, because after time, it "rolls off" your report, and if you pay it, it comes back on!

Answer 2

Do you pay your credit cards immediately when you get the bill? If not that affects your score; even if not late paying later in month lowers your score. Did you reduce any credit lines? Also, the whole scoring relative on other people so if they all improve that makes your score lower relative to others. The US trend may be toward better scores, which makes sense as borrowing is decling lately, while people are more late on mortgages.

Answer 3

Did you apply for new credit, get new credit, or pay something off? If you did, thesse will make your score go down temporarily. If you had negative delinquent items that you paid this will also make your score go down, too.

Answer 4

Your FICO score isn't important. Get rid of your credit card and your loan approval rating will go up. If you use a credit card a lot it tells banks that you are not good with money. Of corse you have to go to a bank that doesn't use an underwriter.

Answer 5

Have you closed any accounts. My husband found that out the hard way; to close an account lowers your score.

Answer 6

Alot of inquiries will make your score go down

Answer 7

THEY'RE PCKNG' ON U !!!!