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fyfe2013

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Oldest account closed (paid), and credit score dropped 80 points??
Hi
I immigrated to the U.S. several years ago, but was only issued a permanent SSN about a year ago. I purchased a car about 18 months prior to being issued my SSN, and when I received the SSN, I let the lending bank know, and they reported to the credit agencies. Thus even though I had the SSN for a month, my credit report showed 18 months of credit history. This really helped my credit score, and allowed me to start applying for various credit cards.

However, last month, I paid off my car loan, and the loan was closed. Around the same time I joined Credit Karma, and noticed my credit score was 80 points less than it was a few months ago. Per Credit Karma, the main reason is 'insufficient credit history', as the oldest account it showed was a 7 month old credit card.

Just looking for some clarification. My credit score is ~650. 6 weeks ago it was 730.

I have a house mortgage, and 4x credit cards (Visa, AMEX, MasterCard) with 4 different banks that are reporting. I have about 10 inquiries the last year (bought a house, which certainly didn't help the inquiries), and I carry between 2-10% of a balance on my credit cards. Credit limit (combined) with my 4 cards is ~$14,000.

It's sad that everything revolves around a 3 digit credit score. In my case, even though I have utility bills dating back 4-5 years, and never in my LIFE made a late payment on anything, my credit score I mediocre at best. I have 0 debt. Everything I own right now with the exception of my house is paid for, and enough in savings to continue paying my bills and maintaining my same lifestyle for over a year if I lose my job.

Open to any suggestions

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