Last month, my score was 662, but then it suddenly went down to 644. I haven't opened any new accounts, and i've actually been paying down my debt (on time) and not using my credit cards at all. The only thing I've down is apply to live in a new apartment. Could that application and/or inquiry from the landlord brought down my credit score??
2007-03-16 07:45:11 · 11 answers · asked by Helen C 1 in Business & Finance ➔ Credit
It is certainly possible that it lowered your score slightly. Also, if your previous scred score was 663, and it had just moved up to 662 from a lower score, you could have beeen bumped into a higher credit bracket, and just being on the low end of the bracket can sometimes bump the score down without you doing anything to cause it.
Also, make sure that you are using the same credit agency to check your score with, as different angencies have their own way to calculate credit.
And don't check your own credit every month. This will definitely lower you score the more you check it on your own.
2007-03-16 07:58:40 · answer #1 · answered by Episco 4 · 0⤊ 0⤋
Find out how much these apartment people ran your credit. My friend filed for a home loan thru ONE company, and in their search to find credit for him they ran his credit about 10 times within a few days. Make sure these people haven't been passing your credit app around.You are only allowed 4 times with a 2 week period, or 8 times within 6 months. Only multiple credit checks will drop your score that much.
2007-03-16 08:09:39 · answer #2 · answered by angeliz378 2 · 0⤊ 0⤋
It shouldnt. One or two inquires should not be enough to knock your score down that much.
Are you sure you got your score from the same reporting agency each time? Because there are fluctuations between the 3 different major credit reportes. My score varied from 712 to 740 among the 3.
2007-03-16 07:50:54 · answer #3 · answered by Anonymous · 3⤊ 0⤋
It could've been from the inquiry, but usually those are just a 3 point hit. Double check your report to see if there were anymore inquiries for the utilities, phone, and such. Did you check to see when the report was pulled? Chances are the report might not reflect the payements you make until the next month.
2007-03-16 07:56:31 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Anytime that a credit check is done on you lowers your credit score a little.
2007-03-16 07:52:48 · answer #5 · answered by Betty 4 · 0⤊ 1⤋
Although the landlord inquiry may have lowered your score, i dont think it would lower it by 22 points. But either way, it should be able to rebound soon if you are paying down your debt on time.
2007-03-16 08:28:36 · answer #6 · answered by Irvin 2 · 0⤊ 0⤋
They ran a credit inquiry and that lowered your score, but it will go back up soon.
2007-03-16 07:50:12 · answer #7 · answered by Tim 2 · 1⤊ 1⤋
Yes, but if you keep up the good work your score will go back up very quickly, maybe even by next month.
2007-03-17 07:48:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It should not have changed that much from one inquiry. Like Iceman asked, are you sure you looked at the same bureau? I see point spreads of 100-150 point all the time.
2007-03-16 07:57:27 · answer #9 · answered by ? 7 · 1⤊ 0⤋
Change of address is one of the criteria for the rating. Change is "not a good thing"........it indicates a "runner" in credit language. (Runner-someone who dodges bill collectors)
2007-03-16 07:57:24 · answer #10 · answered by Great Grandma 3 · 0⤊ 1⤋