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NoGoodDeedUnpunished

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Inexplicable 110 point drop?!
When I got a $340k mortgage for a 2nd home with my boyfriend in July my Transunion score was 797 and his was 740. We have made 5 on time payments so far & neither of us has added other accounts or cards. Even tho I am at only 4% cc utilization my score is now 688 which is a HUGE DROP of nearly 110 points! I thought the newness of the mortgage was killing my score, but my boyfriend's score has gone up nearly 40 points to 777 & he's at 26% utilization. I have another mortgage that is 2.5 years old & another CC that is almost 2 years old & have ZERO dings in my history, so it's not like I have a super thin credit history... What could be causing this massive drop in my score and how long will it take to rebound?! Who can I contact about this?

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Top Contributor
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Good question

The short answer is that there could be innumerable reason.  It's entirely possible that adding the second mortgage moved you from one score card to another and consequently, caused the huge drop.  Without doing a line by line review of your reports, it's difficult to conclude.  There is always a reason though.

Most credible credit improvement organizations provide a complimentary consultation (such as ours).  I'd recommend speaking witha c redit expert to help you determine the cause of the score drop and the subsequent plan to improve it.

Hope that helps,  Joe

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