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Question By
berstwo

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Unexplained sudden drop in credit score
I have been rebuilding my credit for about the last year now. I have been closely watching my score and tracking information on this site. 2 months ago I applied for a new credit card, was approved and doubled my credit limit. I saw a minor hit in my score from the new inquiry, but the next month saw a noticeable increase in my score reflecting the new account and the higher credit limit. However today, there was a sudden drop of -75 points to my score. My credit utilization is at 3%, no new inquiries, no new accounts, no new negative or collections. My payment on time percentage is 100% on time. I went to annual credit report and pulled my report with all 3 companies. None of them show any new information or anything negative to reflect this sudden change. What could possibly cause this? It is a little heartbreaking to be working so hard to rebuild credit and then to take a hit like this.

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When you applied for the new card, your "age of accounts" decreased and that could lower your score.  It will build back over time from that.

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