6 months ago my credit score was a 731 now its a 642.?

Question

I havent done anything to change the score, so why the big drop??????

Answer 1

Inquiries, changes in payment history, charging more on credit cards or adding more credit on your report will make the changes. it's actually an automated computer system that generates the score (used to work for one of the major three bureaus, transunion).

Answer 2

90% of credit reports have errors. If you aren't pulling a report every 6 months and doing something to correct those errors, then you are content to be a victim. Credit repair is the obvious answer. You can use it to get your score back in the 700s. Many people will tell you that you can do this yourself. You can with a little help. The key is to have the language of your letters correct. The wrong verbage will get you thrown into a turndown stack and possibly blacklisted. Additional tips will help you as well. I have had success with a do it yourself credit repair kit that costs less than $20.

Answer 3

If you dont know then simple, find out. Review your credit report for free.

Go to www.AnnualCreditReport.com which is the only website authorized to give 1 annual credit report for free from each of the 3 credit bureaus. There is no other website authorized to do it. All other websites you may find trick you into getting a membership with them.

Answer 4

It could have been a different scoring model if you pay for yours they give you a different score than they give mortgage companies or credit card companies. So scores aren't FICO.
You may have applied for credit recently or closed accounts review your credit report and if all is good don't worry it will bounce back.

Answer 5

It could be a few things.

1) different scoring system
2) id theft
3) a missed payment
4) application for new credit

Answer 6

did you get your free credit report? make sure your not a victim of ID theft? that could affect it.

among many other things...