Asked by Sarah  |  Submitted November 16, 2017

I've been working hard on my credit and it just took a nose dive from 602 down to 568 and I can't find out why. What would cause this drop?

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  1

December 05, 2017

There are several Factors that can drop your score:
1. A new inquiry
2. Increase in your total credit utilization (Card Balance)
3. A new Late Payment Showing on your report
4. Decrease in your average age of accounts
5. A collection showing up.

What do you consider "working hard" to be? What have you been doing exactly? Did you pay anything off recently?

$commenter.renderDisplayableName() | 09.29.20 @ 13:31