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bansheedave

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why did my credit score drop 27 points when 2 accounts dropped off

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most likely...

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Its most likley because those accounts changed your age of credit history and your utilization ratio.

If it was a credit card or line of credit that you paid off and closed...you just self inflicted the damage to your score.  The Age of credit history averages the age of your open accounts.  If you closed an old account...you hurt your age average. 

If it was a credit card you closed, the credit limit on that card has now been removed from your ratio.  Current debt divided by Current Credit limt gives you the percentage that makes up your utilization rate. 

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I know we are discussing accounts that have fallen off reports, but I just want to point something out about closing accounts. If you close an account I guess it does remove it from the "average age of accounts" with Vantage scoring, BUT closed accounts are NOT removed from the "average age of accounts" with FICO scoring and FICO scores are the ones that are important as that is what most lenders use. With FICO, any closed account remaining on your reports whether they or positive or negative will be factored into "aaoa"

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I also want to welcome you Illustrious, I have been reading your answers and you have been giving some very good advice. I really hope to see you continue to stick around here, there are many people that come here daily that really need some advice regarding there credit. By you answering their questions in the good ways that you have been, you have the potential to really change their lives around by giving them the info that they need to get on the right track with their credit.

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WHY? 49 pt drop

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My score dropped 49 pts in 30 days when a BK (that was NEVER discharged as I changed my mind after filing and did not go thru with it) dropped off along with another old bill. Only Transunion dropped. Equifax went up 4 points. Feeling defeated.

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