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jrecord43

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Why did my credit score drop from 728 to 673?
My credit score was 728 at the beginning of July. I received an increase on my credit card limit from $500 to $2000 on July 9. Suddenly, on July 10 my score dropped to 673, a decrease of 55 points. The only thing that has changed in this time period is the increase on my credit line...Can anyone explain the discrepancy? I thought an increase in your credit limit would improve your score as it lowers your credit utilization? Is this just a short term drop that appears as though I am asking for more credit, thereby hurting my score?

Thanks

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It is possible that an inquiry in connection with your credit increase hit one reporting period resulting in the score decrease, but the actual credit limit increase can in the next reporting period. I'd see what happens in the next update.

However, I'd look to something else as the cause... That just doesn't seem plausible.

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