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poohbear6201

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1 hard hit caused my credit score to go down 32 points why?

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The additional information you provided was helpful.   A hard inquiry is routinly 5 points or less.   If the timing of the closed credit card caused it to be removed during the same month, this count account for some of the loss of points as when an account is closed it routinely drops the scores.  Although, if it has been closed for that many years, I would imagine you took that hit a long time ago.   As for the charge offs, while the credit card can reflect it as a charge off, there is nothing preventing them from selling the account to a collection agent who can file and cause a reduction.   As you look at your collection history, ensure nothing else has changed.  Perhaps theres a new entry for one of the older charge offs.

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poohbear6201

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Thank you for your help

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One Hard Hit

Unfortunately - you did not provide what type of HARD HIT - was it due to a late payment?  Was it because of a default on a Card/Loan?  If it was a hit for applying for credit - should have been 10 points that last for two years.

But being not sure what type of HARD HIT you speak of the 32 points can not be identified.   So if you can update - what type of hit your credit took - such as Late payments - default on loan... Be specific as you are seeking a specific answer.

But know - the amount of the drop will depend on what caused the hit.

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poohbear6201

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My husband & I applied for a loan and when they pulled my credit my score went down 32 points. I had a credit card in good standing that was paid off 7 years ago and had not been used since and when they checked my credt that credit card all of a sudden was closed, which is fine since I didnt use it. could the fact that they closed that credit card caused my score to drop 32 points? they also pulled a hard hit on my husbands credit, for the same loan, and his score only went down 2 points. We have no credit cards, and the only loan we have is our house mortgage which is current. We do have charge offs in the past, 4 years ago, but that shouldnt affect it now, should it? I don't really understand how all this credit stuff works.

thanks for your help!

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This is just an what "if" question... When you said your score drop 32 points, did you happened to compare two scores from two different sources? Like you took score from Credit Karma then compare it with the score your lender pulled (that means it's "different") Or the score dropped was shown here from two different weeks (that's means "drop")?... The reason I ask it's because we do have 100s scores out ther.

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