i had a credit score of 711 on transunion and withing a month it drop to 635 and i dont see any reason. no major changes happend , no delinquen was added and i've been paying on time more than the minimum
2007-04-18 09:04:08 · 5 answers · asked by raphypiano1 1 in Business & Finance ➔ Credit
my abaliable credit is around 90% and i only have 4 inquiris one of those is from 2 month ago
2007-04-18 09:37:56 · update #1
What the previous posters mentioned could be the factor.
One other thing it may be is - where you are getting your scores from.
If you are using a credit monitoring service, like True Credit, Privacy Matters, etc. - that's the problem.
The credit monitoring services are not true (myfico) scores for one thing.
And another thing, they are rarely accurate and "often" fluctuate for "no" apparent reason.
If you are using the credit monitoring services - you might just give it a few days and the (fake) score may swing back up.
2007-04-18 10:56:14 · answer #1 · answered by echo 7 · 0⤊ 0⤋
If you are close to the limit on credit cards, that hurts your score. Yes, you make payment, you make more-than-minimum payments, you make on-time payments... but your balance is creeping up.
If your limit is $1000, and you have charged up $900, you are at 90% of your limit. If you have the same limit, but only have $300 charged, you have 30%.
Do NOT open fresh accounts to change that ratio (it hurts more to open and close accounts). You can first call the credit card company and ask for a limit increase (like to $1500). That will help the ratio. BUT, don't get comfortable and charge up to $1400... or you'll be in the same situation.
Pay down the balances, especially on cards where you are 'close'.
2007-04-18 09:36:15 · answer #2 · answered by Sue 5 · 0⤊ 0⤋
If you have been appling for credit, such as purchasing a car or something like that. The company could have sent it to several places. Inquires and maxed our credit will make your score go down. Also, if you have any collections, judgements, or late pays that will make it go down also.
2007-04-18 09:36:13 · answer #3 · answered by de3fan0428 2 · 0⤊ 0⤋
Check your credit limits shown on your report. How much do you owe? If it's over 50% of your limit - that's a hit to your score. If you're maxed out (or close to it) - it's a serious hit!
2007-04-18 09:21:57 · answer #4 · answered by reandsmom77 6 · 0⤊ 0⤋
Probably inquiries. Have you applied for anything lately? Keep paying on time it will go up again.
2007-04-18 09:19:26 · answer #5 · answered by Elizabeth W 2 · 0⤊ 0⤋