Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Credit score dropped 45 points for no reason!

The last post in this topic was posted 2767 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Hey guys,

I started my credit history 10 months ago with a secured 99/500 Bank of America Cashrewards and the secured Capital One. So far, I've always PIF, and kept a low utilization (<20%). Last week, my BOA GRADUATED to an unsecured card, and they increased my CL from $500 to $1,000, so that's a very good news.

Today, my Credit Karma score DROPPED 45 POINTS!! With the following notifications:
- The limit on 1 of your credit cards has increased. (That's the BOA)
- Your previously unused CAP ONE account is now reporting a balance. (I forgot to USE my Capital one card for a month...)

Note that I have made no credit inquiries whatsoever.


I really don't understand, I've been working very hard on my credit and my score has increased consistently in the last 10 months.

What happened? Is it possible that NOT using a CC for a month lower your score? Did BOA do a weird HP when graduating my card? (Note that I didn't ask for anything, and that credit karma does not show a pull).

 

Please help, thanks!

Edited by pasei

Share this post


Link to post
Share on other sites

The score you get from CK is irrelevant only one that matters is FICO. I would get a Walmart account just to get the free FICO every month based on your TU.

Share this post


Link to post
Share on other sites

One day I logged into credit karma and it showed my husband's score had DROPPED by 590 points. NOT a typo. His score wasn't even showing because they said it was too low to report one. I was like WTF? I logged into a few other sites to check and they were all normal in the mid to high 600's range. There was no mention of anything bad reporting, etc on KC either. I just shook it off and decided that they were smoking something bad and left it at that. The next month it was reporting normal again. Go figure.

 

I guess you get what you pay for with these free sites. LOL

Edited by DPDIY

Share this post


Link to post
Share on other sites

Funny thing is that my EQ FICO actually dropped 50 points for no reason (otherwise known as rebucketing) when my FAKOs all stayed pretty constant as did TU's FICO.

 

But hey, it's what keeps us Sysipheans going.

Share this post


Link to post
Share on other sites

The last post in this topic was posted 2767 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Similar Content

    • By Menta33
      I'm trying to help a friend with an Auto Loan that was at Bank of America that is now paid off. BofA is reporting 30 days late Aug 2011, 30 days late Dec 2012, and 60 days late Jan 2013.

      I am looking at the Metro 2 — 2012 Credit Reporting Resource Guide to understand how and when 30-day and 60-day lates are to be properly reported. In there I read:


      They then give an example of a payment due on January 15th and how it should report on the first of each month:
      January 1st: 0-29 days late (code 11) - no payments past due February 1st: 0-29 days late (code 11) - one payment past due March 1st: 30-59 days late (code 71) - two payments past due April 1st: 60-89 days late (code 78) - three payments past due This BofA loan appears to have a due date of the 1st of each month and a 5% late payment charged on the 12th of each month (unless that is a holiday or weekend, then next business day).

      The Metro 2 guide states later:

       
      Later I see this section on Date of First Delinquency:


      None of the CRAs show a Date of First Delinquency for this account, the field only appears on Equifax and is blank there, no mention of DOFD on any other CR for this tradeline.

      After analyzing the report supplied of the complete payment history on the account, this is what I find:
      The due date appears to have been the 1st of each month. A late charge of 5% is charged on the 12th of each month if payment not received by close of business on that business day. I don't know what day of month Chase reports to the credit bureaus, but I am assuming it is the first of each month, but perhaps it is last day of the month? How can I find this out? Account was 30 days late on August 31, 2011 Account was 30 days late on October 1, 2011 Account was 30 days late on December 31, 2012 Account was 60 days late on January 30, 2012 Only if BofA reports on the very last day of each month would their reporting be accurate if the due date is actually the 1st of each month.
       
      How can I know for certain what day of the month BofA reports to the credit bureaus? How can I find out for certain what day of the month payments were due and what their late payment charge policy is? Should I ask BofA to produce a signed contract for the loan? So far they've only provided a computer printout of the payment history.
    • By 720lady
      I have a total of three (3) State Tax Liens on 2 or more of my credit reports. This information is killing my score and any chances of getting my APRs reduced or credit limits and or new approvals. (Still in review process - things still murky). Trying to clean up as much as possible without causing any inquiries and would like to raise my score within the next 30 days as much as possible. My overall status is a high debt ratio. However, I am under the 45% mark with my part-time income. Each week, I will get the majority of my credit cards to 30% availability on cards with a lower balance. Which leaves the larger cc accounts with high balances.
       
      1 - States that it has been Satisfied - However, it was an error. I never did owe. I had moved from the state and wasn't required to file. However, they keep giving me the generic response when I request removal due to error. That don't seem to be reviewing at all. Just the same response. It has "BEEN SATISFIED".
       
      Any recommendations
       
      2 - States that it has been Satisfied - It was paid in FULL, SATISFIED.
       
      One credit bureau will not investigate any more. Or, later they will let me know that there has been no change.
       
       
      Any recommendations. I am trying to increase my credit score. I will be applying for a mortgage within the next 30 days.
       
       
      3 - States an incorrect amount due because I am currently making monthly payments.
       
       
      Any recommendations. I am trying to increase my credit score. I will be applying for a mortgage within the next 30 days.
       
       
      Thanks!
    • By desibaaba
      Thank you Credit board members for a wealth of information.
       
      It's time to say good bye.
      Relieved after closing accounts.
       
      Merrick Bank ( July 2008) Limit: 1650 Annual Fee 96.00
      Merrick Bank ( Hooters Card) ( Sep 2008) Limit: 1100 Annual Fee: 96.00
      Capital One ( Feb 2009) Limit: 1000 Annual fee: 39:00
    • By Mothergoose24
      *Disclaimer: typing with my iPad, so I apologize for errors!
       
      Today while doing my daily pulls I noticed something Imtersting.
       
      A little back story first. I received a letter stating that Navient who I never heard of was buying my loans, but nothing else would change. I received that letter probably six months before the switch. Well, soon after the switch, I log on to my new navient account only to find that half of my loans are gone. I then get another letter a week later stating the Nelnet has purchased half of my loans. I was pretty mad considering Sallie Mae said nothing else would change, so did Navient. I didn't know anything of this until after it happened. So after being aggravated, I just decided to deal with it, set them all up for auto pay again, and forget about them.
       
      Well, today I login to find that during the switch my Navient loans were closed and new Nelnet loans were reporting, but the new Nelnet loans were reporting with my original loan date, so it added 10 months to my AAOA and also 10 months to my credit length history. Raised my score to the tune of 8 points on my EQ. so essentially it added four new accounts with old 2006-2008 dates
       
      The second odd thing was my capital one card that I got during college (my first cc) which only had a limit of $500 was bumped to $2000. I asked for a CLI last year and they said no, so I called and asked and they said they wouldn't give me one since I didn't use the car, I complanined saying that I have credit lines of well over 10k and i would never use it with that low of a limit, they still said no. I never login and even check that account, but just so happened to check and boom the AUTO CLI, which seemed odd to me. I may have to use it now a couple times to show them I still care 👍😀
       
      Anyone else have a similar experience with their Student Loans. I'm on the downside and hoping to pay them off this year, but thought that it was interesting how it took place on my CRs. Didn't think they would process like that. My old loans show (Transferred/Sold/Closed.)
       
      INPUT PLEASE?
    • By bunyan
      Hello,
       
      I already had one $5000 Cash Rewards Visa with BofA and a $300 limit Signature Visa as well. The $300 Visa was open since 2007. The $5000 limit one has been open since 2011. I also have a $2500 Amazon store card since about 2011 and a Capital One Quicksilver Visa with an $800 limit, and a Capital One Platinum MasterCard with a $700 limit. Have had both of those since 2010. The $5000 BofA Cash Rewards card, Amazon Store Card, and both Capital One cards have all been as the limit since last summer. I never had any late payments. I have had my checking account with BofA since 2007. I also have a business account with BofA. No Money Market amounts or anything like that with them. My Experian score is 726 (That's who they pulled)
       
      I was in the branch on Monday and the teller said I had a Credit Card offer. So I sat down with the representative, and had him put in an application for another Cash Rewards Visa with a $5000 limit. That was instantly approved and I got the credit card in the mail yesterday. So today I'm at work and decide to call in and do a balance transfer from my other cards to my new card. While I'm talking to the CSR I ask if he thinks I can get a CLI to 10 or 15 grand. He said he thinks I can and maybe they won't even do another inquiry since I just got this card yesterday. I said ok go for it. 15 grand. He doesn't get an immediate answer back and says I should hear something in the next 3 days. This was around 1PM today. I check my account at 4 and I see my limit is up to $15000 on my new card. Wooo hooo! The CSR also said that I can get a cash advance for up to my maximum credit line at 0% until April of 2016. Fees are 3%. He already had approved me for $4800 (Since my initial credit limit on the new card was only $5000) but said once I get my CLI just call him back and he can give me more.
       
      I'll be calling him Friday! Lol I'm gonna put all my other card balances on here so I can get the 0%. They'll be paid off well before then.



  • Member Statistics

    • Total Members
      179,603
    • Most Online
      2,046

    Newest Member
    ZSIMBA
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines