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Question By
Danirani09

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Why did my credit score drop?
My score had increased to 712 I believe after paying off an account in collections. I haven't been late in any payments, my credit card utilization dropped from 39% to 33%, and I haven't had any additional hard inquiries pulled. Please explain this.

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Forgot to add that since then my score has dropped to 696. Didn't fund any indication as to why this occurred. It doesn't make sense.

Reply by
Alohadawg

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These free site's are good to get you rolling in the right direction.  Keep making you payments on time, and wait for stuff to fall off your report.  Also, keep your Utilization % down on your credit cards.  A lot of Credit Cards have a credit score tracker that will give you a more realistic credit score.  I'm still waiting for the reason why CK dropped my scores by over by 130 points.  I'm not going to hold my breathe though.

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It won't make sense

The scores here are bogus.  I have been rebuilding my credit for about two years.  I use this site and another one to help me track my scores.  Karma Credit recently dropped my score from a 730 to a 596, and nothing changed in my report.  The other site dinged my report by over 100 points for a missed payment 6 years ago.  Not sure why they weren't factoring those late payment years ago when I signed up last year.  They probably just want you to pay Lexington Law money to help get things off your report, which I have heard is kind of shady.

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Reply by
JohnnyRain127

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Important thing here to remind ourselves is that vast vast vast majority of lenders do NOT use the same scoring models from CK for their lending decisions, they certainly do NOT pull our credit scores/reports directly from Credit Karma, so that makes whatever CK said/listed here about your credit, pretty much irrelevant in the Credit world. Of course we much rather to see our scores going up than not, but if and when my scores went down here? I wouldn't lose much sleep over it, nor necessarily freak out about it.

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Whenever and however you can? monitoring your FICO (FICO 8 especially) scores instead of VantageScore 3. CK is great for its free weekly updates of two credit reports, I pretty much ignores other things, like scores, recommendations, approval odds, blah blah.

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