Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
joelpolard

0 Contributions
0 People Helped
Why has my credit score dropped 85pts in two days?
It just dropped 85 points in your reporting and I want to know why.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
2 Contributions
2 People Helped

May have to do some digging...

Helpful to 2 out of 4 people

There are several reasons your score could drop so dramatically in a short amount of time. Mine dropped like crazy when they started reporting my mortgage because the amount of money I owed boosted by almost 200K. My wife's dropped nearly 100 points when her student loan servicer mistakenly reported that she failed to pay her loan (which is a series of several small loans) for months. A dispute letter solved that.

If you put a large balance on your credit card(s) compared to the maximum limit, this could cause a large drop in your score as well.

Having an account go into collections could drop your score significantly.

Closing a very old account (like a credit card) could greatly reduce the length of credit history being reported which has a large impact on score.

Go through your accounts, look for changes such as those listed above. You may want to contact one of the credit agencies and request a full report (you get one free from each agency per year I beleive). Search through it for any irregularities. It might be a lot of boring reading byt that's how you will determine what has caused your score to drop so dramatically.

Happy hunting! 

1 Contribution
0 People Helped

score dropped 85 points?????

My student loans are on my credit report surprisinglybut i have not graduated or started to have to pay them. Also I just paid off a car??and haven't yet told the bureus wondering why my score shockingly!!! dropped!! 80 or 85 points since January less than 2 months Ago??? SOMETHING REALLY WRONG??

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.