Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
Vortex153

1 Contribution
41 People Helped
51 point drop over 1 inquiry.
I received my updated score today and it has dropped from 635 to 584?! I was actually anticipating a higher score today. Here are the changes:
1 new inquiry. After a couple months of paying down credit cards and getting a couple collection accounts removed I reapplied for a mortgage and got approved.
Increased credit limit on a department store card from $2,200 to $2,600. This card has had a $0 balance for a few months and that hasn't changed.
$1,250 payment to Capital One. This dropped my utilization on this card from 95% to 55% and dropped my overall utilization to 30% from 36%.

I know my lender has already pulled my credit and my middle score was 641, which puts me in where I want for an FHA loan, but will this sudden drastic drop threaten my closing in a month?!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
675 Contributions
353 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Check your credit report and make sure nothing has appeared on there that was not there before.  the inquiry would not drop your score that much.  Something is going on and you need to find it so that it does not effect your morgage loan.

Reply by
Vortex153

1 Contribution
41 People Helped

Thank you for your suggestions. I scoured the report for other changes and found nothing. However, my score jumped up 54 points today recovering all the points lost and gaining a few I had expected. I'm still lost as the reason for the massive drop and then jump. Maybe glitchy code in their system?

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.