I recently purchased all three of my reports through myfico.com. My Experian score was 728 on 6/25/07. The negative things were missing student loan payment for more than 5 yrs ago and credit card usage. I have since paid off $8,000 of the credit card which is most of it. I also disputed my last Sallie Mae payments, thinking what the heck.

Well today my score was 699 that is 29 points drop in one month. My late payments are the same, my revolving accounts balance dropped $7500 and installment accounts dropped $500.

The only difference I see in the two Experian reports are my Sallie Mae loans are now listed as "OK/was past due" and the first report was listed as "Not on Record Account transferred to another office". I transferred the Sallie Mae loans about 2 years ago.

Does anyone have any ideas for the drop or ways to improve it.

Thanks

I am not by any means a "pro" in this area, but from experience, I would say that the score dropped due to the status change. The previous status was "not on record" is the same as "unrated"...(i think), at least this is what I was told when I contacted one of my guarantee agency's regarding an incorrectly reported account. So, since they have a "status" now, it is figured into FICO payment history section.

Hopefully some of the pros will chime in, as I stated, this sounds like something I've been told before, so it's just a "guess"...

Your fico score drop may be due to an updated "last reported" date. I recently disputed with the CRA 2 old unpaid charge off accounts from the OC (credit card debt). The "last reported date" for both was nearly 3 years ago which is when it was charged off (and later sold)

The OC "verified" with the CRA as a result of my dispute, and the ONLY thing that changed was that instead of the "last reported" or "updated" date being in the year 2004, the date reads 6/2007. BOOM - 16 point drop in my fico score (per Equifax Score Watch).

I searched CB and there have been instances of other people doing the same thing resulting in a score drop. In retrospect, I would have left those two accounts alone and not disputed with the CRA - at this point in my credit repair, at least. I'm actually glad I learned from this before I did the same thing with these two accounts with the other CRAs.