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Question By
HelpMeObiWan

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TransUnion credit drop after fraudulent account removed. WHY?
Why did my TransUnion credit drop 73 points when I had a fraudulent credit card account removed?

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A couple of reasons.

First, there was a fraudulent account. Your score dropped so that new accounts will be less likely to be approved. Protects other lenders from getting duped. The primary reason for credit reporting. 

Second, the closing of the account reduces your available credit, the number of open accounts and the age of active accounts on your report. All these effect your over all score. 

Hope that helps 

Reply by
HelpMeObiWan

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Thank you! Yes, that helps.  Do you have any recomendations of how to avoid this or at least minimize the damage in the future?  Is there any "better" way of disputing a fraudlent account other than simply canceling it?   

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