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helpmeann1

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credit score dropped by 50 points for no known reason, don't understand.

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It was recently reported in the news (not widely reported, however), that the credit bureaus are tightening their scoring criteria. This tightening includes looking at consumer's trend of debt; that is historically is their amount of average debt going up or down. The article I read didn't spell out how far back they are looking or how much historical debt increases or decreases. Also, they are looking at the total amount of credit limits in the sense that having a high total credit limit can be looked at negatively and being the potential for the consumer to take on too much debt. The fact that this development has not been widely reported is somewhat suspicious to me. One theory is the "powers that be", i.e. the banksters are foreseeing an economic downturn coming and they are quietly preparing...just my opinion.

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Cap1

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Capital One changed their name to Cap1. If you had a Capital One card with, say, a $4000 dollar balance, Credit Karma has somehow messed up and now doubles that amount since it for some reason counts the account twice. Apparently real world credit scores are set up not to do this, it is CK only. But I don't know if Vantage gets it right or not (FICO does).

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a 50 point move is only 6percent of the possible 850.  These can change because something old fell off the usage of the Vantage scoring system.  You can also see that much when compairing your Vantage3.0 to lets say a FICO 8, or FICO 2.  Remember CK is here to teach and give a tool to mointor what maybe happening with DATA CENTERS of TU/EQ it does not even help with Equifax.  A lender can choose to report to non-one-two-three as they see fit, and can pull from any they see fit. It all depends on which ones they want to pay to be part of.

Use CK as a tool to get an idea of if you are doing good things or bad things with your credit data, but do not get too hung up on the scores you see here as most lenders do not use the Vantage 3.0.  And do not worry too much about a small percentage swing if you can see nothing added to your credit report. Just keep an eye for new things that you may not have added, then worry as you maybe a victum of identity theft.

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Me too

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My credit score on both went down 27 points, even though the only changes were an increased credit line that did not get inquired about to the reporting agencies and my amount owed went down  as well. I don't understand it. This is such a scam.

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credit score

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Same thing happened to me when I just checked it this morning TransUnion went down 3 points Equifax went down 40 points and they both have exact same information don't get it something's up

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Me Too! :-(

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My score dropped 67-87 points Trans-Union/Equifax

Nothing has changed with my credit card utilization and my collection accounts are all $0

What is going on in the world?

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Look everything over again and again to look for changes. Has debt gone up, any accounts close or fall off your reports, open any new accounts, etc. Purchase your FICO scores somewhere and see what they are doing.

Reply by
goalof800

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My score dropped 67-87 points Trans-Union/Equifax

Nothing has changed with my credit card utilization and my collection accounts are all $0

What is going on in the world?

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CKISFAKE

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Credit Karma is fake man!!  I checked Experian and my score is 70 points higher.  This free service is FAKE

SCAM!!!!!

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*** Same here Dropped!!!

Same here dropped by 9 points! No other activity other than paying off my car loan which shows in my bank, "Account Close", is this the effect?

Reply by
Chmarr

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Yep. Even though its not a revolving credit, the headroom you have in your car loan DOES count as available credit. Once that account is closed, your available credit just dropped. What I've done is to hold the loan open as long as possible, such as leaving $10 to go until the very end of the loan, to sneakily add to my available credit. Alas I messed up with my motorcycle loan and accidently paid it all off. Credit score dropped about 40 points then.

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Vantage Score Vr Fico

I came to learn that the score show on credit karma is worth nothing compare to Fico, it is way off and most lender use Fico no this model. 

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It happened to me as well

My scores dropped 58 and 61 points respectively. The only change from last month was that my credit card utilization dropped from 14% to 11%.

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