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Virginia1M

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Why did my credit score take a major drop because I do not have any longstanding debts?

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Top Contributor
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Some more details are needed to really answer your question.  Part of your score is based on your mix of credit and if you no longer have installments like a mortage or auto loan then your scores will not benefit from not having them.

2 Contributions
2 People Helped

Credit Score Drop

I have never been late on a payment.  I do not carry credit cards, because I do not live beyond my means.  Yes, my mortgages have been closed over the years.  How do they expect you to keep them open?   

They have me having 21/2 years credit, when I have had 35 years of great credit.  I now have been dropped to poor because I paid another mortgage off and decided to have one credit card.  That credit card dropped my credit line drastically to make it appear I maxed out the credit card.  Far from true.  

I am single and have been.  A person pays all their bills on time all their life, then this happens.This is all really a scam/fraud.  You work all your life, then they CHOOSE to do this.

Not Happy

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