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
G00285019

3 Contributions
1 Person Helped
My score dropped a lot for no reason! Why?
No new inquiries, no balances have been paid off, no balances have increased. No changes whatsoever.

My score dropped 58 points and I have NO idea why. I'm very on top of my finances and my bills. Everything is paid before the due date and always enough to cover the minimum due plus whatever interest may have developed over the month.

Someone PLEASE help. There was no explanation on credit karma. Thanks!

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-10 of 37Results per page: 5 | 10 | 25Page 1 of 4   Previous | Next
1 Contribution
32 People Helped

Mystery Solved!

Helpful to 32 out of 36 people

So I had the same problem with Equifax on credit karma. Credit karma reported a sudden 22 point drop with no valid reason for it. I went drive you to Equifax and paid for their credit monitoring. They were very clear the my credit score HAD NOT CHANGED that credit karma was off on their reporting . So to everyone worried about a sudden drop I would recommend contacting the reporting agency directly

Reply by
cremington10

2 Contributions
16 People Helped
Helpful to 15 out of 19 people

Enter Your ReplyIll try that. Mine drop exactly 100 points today for no reason.

1 Contribution
15 People Helped
Most Helpful Response

-98 points in ONE DAY!!??

Helpful to 15 out of 15 people

Mine just dropped 98 points in one day!   I disputed two items that were taken OFF my report and today im -98 points on my score!!!   WHY???   I have one credit card, and two loans i pay.   I paid my auto loan off last year so that shouldnt JUST now come into effect!

Reply by
iForeignBeauty

1 Contribution
27 People Helped
Helpful to 27 out of 31 people

I just had the same thing happen to me!! I am ****ed! I disputed 4 things and they were removed but then my score dropped 59 points. I am not understanding this.

Reply by
catiemay

1 Contribution
29 People Helped
Helpful to 29 out of 32 people

Mine did too, I disputed 3 items on my credit report and it dropped 41 points. I thought getting the negative things off your report was supposed to help your credit not hurt it.. What is wrong with this picture??

Reply by
alexrev13

5 Contributions
34 People Helped
Helpful to 26 out of 29 people

the same thing happen to me once i paid my car off my good credit just started dropping a litte he and a little their. i went from 750+ to now 657 for no reason.

No one can tell me why it keeps dropping.

3 Contributions
12 People Helped

Me too!

Helpful to 8 out of 9 people

I just had the same thing happen - 47 point drop on both Equifax and TransUnion in one week, and the only change shown is an old tax lien that DROPPED OFF. WTF? Feels like the system is either arbitrary or rigged and improving my credit score is futile.

1 Contribution
9 People Helped

Dropped for no reason

Helpful to 9 out of 9 people

Im a college student who amazing paid of my credit card bills in full, and not once have i ever been late. My credit score was around 750 last time I checked and I checked today it was 715. I don't have any payments that I need to pay, and I only have one card. I am confused as to why If im doing everything correcly, why my credit score dropped. This is some b.s. Its like you can never win when it comes to having a credit card.

1 Contribution
8 People Helped

Helpful to 8 out of 10 people

How did you contact the Equifax directly?

1 Contribution
11 People Helped

Ludicrous!

Helpful to 11 out of 16 people

I noticed that the credit scores goes up little by little by little, but the credit scores can drop drastically for whichever reason if it's legit.. My score dropped 18 pts for NO reason. It just seems forever to get higher and higher in score, but it sure has NO problem to drop! I have NEVER been late on ANY payments in the whole entire history of  I having a credit card. This is ridiculous!! 

1 Contribution
19 People Helped

Same Here

Helpful to 19 out of 22 people

My Experian credit score went down 84 points in one day, and for no reason whatsoever. I have a perfect payment history, 10% credit card utilization, no derogatory marks, and I'm very careful about my finances. I'm getting sick of the mafia-like credit reporting agencies. They create a secret list, charge you money to look at it, and then don't explain why they make changes the way they do. It's an insideous cabal. 

1 Contribution
2 People Helped

Credit Score Dropped

Helpful to 2 out of 3 people

That's how banks make money, if you have low credit score. My daughter's score went from 740 to 635 without any changes in her credit report. No credit cards, no loans other than student loan (which was already on her account before the drop), no  collections, no inquiries. You can't really go anywhere for help or get it corrected. 

This whole thing has been a scam for years and is not about to improve anytime soon. 

1 Contribution
2 People Helped

Same

Helpful to 2 out of 2 people

Mine dropped 81 points in a day!  I paid all my student loans on time.. actually paid them a week early and boom this happens!  I need answers!

1 Contribution
8 People Helped

What happend next??

Helpful to 8 out of 13 people

Mine did the same thing today....no reason at all.....can I ask you, what happend next? Did you manage to find out an answer from Equifax?  Did it go back up the following week? etc. Thanks!

Reply by
lauraleecable

1 Contribution
6 People Helped
Helpful to 6 out of 11 people

Mine did the exact same thing on the SAME date as yours. I have no clue what happened and I have no new activity on my credit whatsoever. Mine went down 72 points.

Reply by
chadsproperties

1 Contribution
7 People Helped
Helpful to 7 out of 12 people

I'm going through the same thing. Mine dropped 38 points with no changes. My update is on the 27th. Did yours change and go back up with the next update?

Reply by
Galaxis

3 Contributions
7 People Helped
Helpful to 7 out of 9 people

If you hit over 9% or 30% utilization, it will drop 20+ points. When you hit the 50% thresholld utilization, it will drop again, and so forth. Utilization occurs in real-time, meaning you don't have to wait a month to see it (the next time credit karma updates ur info).

Results 1-10 of 37Results per page: 5 | 10 | 25Page 1 of 4   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.