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Question By
pmtcatty29

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Credit Score Decrease
Hi, looking for some pointers as to why my credit score would drop by 50points. I had a score of over 700 in Oct 2013, I then started having car payments, not missed one yet, also had a credit check from t-mobile about the same ( which was good), are these the reason for such a big drop?
Worrying thing the trend looks to be downwards as well.
Credit cards balances are at zero!

Any suggestions much appreciated.

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Hard to say why it dropped without looking at your complete credit report.  I suggest you pull a full report from www.annualcreditreport.com to see exactly what is showing up on your credit report.  Also go to www.credit.about.com to learn more about credit scores and how they are calculated.  The score you get here is just for your use, nobody else sees it and it is not the same score that your creditors (such as T-Mobile) see when they check your credit.  Google "FICO vs FAKO" and you'll see what I mean.  Sorry I can't give you a more definitive answer, but hope this helps.

Top Contributor
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You said your credit card balance are at zero. Is that because you pay off the balance every month or because you haven't used your credit cards at all since getting a car loan? If the latter, you might want to use credit cards again. Yes, get one credit report for free for the lowest score you are aware of (for me that was Karma/TransUnion) and review it carefully. Other than that, see the reply above.

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