need help?

Question

my credit score was 711 on transunion last month this month i check it and it drop to 635 but the only change on my profile is just a new inquiry i have 90% of avaliable credit and i have no late payments for the last 2 years. why did it drop so much if everything is the same on my credit profily for the last year, i only owe about $900 and my avaliable credit is $8000.

Answer 1

Where are you getting your score from? If it's from anywhere but myFico, that could be the problem.

Check to see if everything looks normal on your reports. Don't use the tri-merge reports since they are generally as incomplete or inaccurate as the scores they offer.

If you use the scores from tri-merge reports or other sources than myFico - then those scores are generally inaccurate and often fluctuate for no reason at all.

I use True Credit (which is a Trans Union product) to keep an eye on things and the scores rarely match my myFico scores and they always jump around for no reason. I can see a huge drop one day, for no reason, then two days later it will rebound past where it was to begin with.

Tri-merge reports are good to keep your eye on your reports - but generally worthless to get a completely accurate picture of your reports and should never be used when making a dispute to the CRA's.

Answer 2

Wow you have some awesome credit.
Why did your score go down? Well, did you apply for more credit? Everytime someone checks your credit report your score goes down. Why? I have no idea. Its just the way they do it.


Or another possibiltiy is that if you cancelled a credit card. If I don't need one, I will cancel it. that will lower your score too.