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jwhybark

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why did my credit score drop from 703 to 600. No reason, please let me know.

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I've worked hard to build up my credit score to 730.  For some reason it dropped down to 600 or below.  I've have not been late on any payments, don't understand the drastic change.  Please explain.  I have taken out 2 small credit cards, 1 to Khols for $400 and 1 to Valero for $300.  All paid on time when they come due. There is no reason for this drop, no changes.  Please reply I want this resolved.

Judy Whybark

Reply by
TD2012

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is your utilization high on the cards? If so pay them down to 10%  exactly (not above or below) and see what happens. Credit utilization is a big factor, but having 2 cards showing resbonsable use should do nothing but help your score. Oh and the inquiry for each card will have a negative effect at first but only by 10 or so points. 

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You also shortened your credit age by obtaining 2 new cards.

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score

why did may score drop blow 600

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