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Posted in Credit Scores
What could cause my credit score to drop 28 points in one month?
It stated that nothing has changed on my credit report and 100% on time payments.
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Question By
dnagel

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Did your cc utilization ratio change? If you charged on your cc's and they were reported to the Credit Reporting Agencies and you went from having 1% used on all your cc's, to having 25% used on your cc's, that will lower your score. For example....if you have 2 cc's with $300 limits on both, and a month ago the cc companies reported $6 as your balance, but this month the credit companies report that your balance is $150, your utilization ratio changed and will drop your score. Even though you're paying on time, you may be paying the cc's after the cc companies report the info. to the CRA's.

Response by
iluvmygirlz

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I don't have any CCs the only thing I can think of is that I had a store card at Kay Jewelers and had not used it in two years and I think it just closed recently due to lack of use. But 28 pts is just insane for something like that.

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dnagel

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