Credit score?

Question

My credit score dropped about 20 points, Nothing as changed, Why did it drop?

Answer 1

A few to several days after credit card statement is available each month, the balance info becomes available to credit agencies. You could possibly had higher balance than last month.

It's hard to say what caused your credit score to drop. How did you become aware that your score drop anyway? You can inquire the people who notified you of the change in score.

Another thing is, the credit score varies by agencies. Experiean, Equifax, and Trans- all have different formulas for calculating scores. So you might have received your score from one, and another (which uses a different method of calculating) may have given you another score, that happened to be lower. Usually lenders get three scores and take average.

Answer 2

Late payments, to many credit cards open, to many inquires..... The list is very long. What you may want to do is to get your free credit report and pay the $10 for the tips on how to increase your credit score.

Answer 3

I think the below website helps you to raise ur credit score

Answer 4

something changed! inquirers, limit on the bank -- something.
In fact if are getting Credit Card offers in the mail there is at the very least a soft pull on your score.

Answer 5

maybe your credit cards are over 75% of your llimit. (near maxed out). maybe you had a few too many companies run your credit (inquiries) maybe you opened a new account that doesn't have history yet. maybe a collection was added that you aren't aware of.

Answer 6

Several inquires is probably the most likely reason.

did you close out any cards?

Answer 7

Ask the rating manager.