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californiapoppy

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a new address and my credit dropped 33 points!!!! what???
i just experienced a significant drop in credit points after a "new address" had been added to my account. i recently moved but i don't understand why that would cause my credit to drop so severely! any thoughts??

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FICO is an indicator of credit worthiness (i.e., stability and ability to repay) and is based on numbers. That means that everything has a value and weight that is applied to the calculation. Frequently changing addresses or information fits into the equation because it can be percieved as instability. A long time at one address shows an ability to pay your rent or mortgage and it implies you're established in the community (i.e., have a good job, are not a criminal, etc). So even if you're not a chronic apartment hopper, all changes carry weight and there will be an impact on your score.

If you haven't done so already, pull your reports from all 3 CRB and review for errors and inconsistencies.

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