Any reason for score to drop?

[wizz587]

I wrote a GW letter to Sallie Mae about a 120 day late pay. Today I got an Alert from Myfico after checking out the alert they took off the 120 day late and put payed as agreed but my score score dropped 30 points? What would be the reason? FYI Sallie Mae did it on 2 accounts(changed to payed as agreed).

[Captain_Morgan]

Which score are you referring to? FICOs don't fluctuate often, and if it's a FAKO from one of the monitoring services, then it's all but a mute point and (in all probability) meaningless.

FAKO scores are an interpretation of credit worthiness based on a CRA formula. They go down, they go up. Is it a Thursday? Was it cold outside? Full moon? They drop on one CRA and go up on another, go figure.

Do you hve any new inquiries? Did Sallie Mae pull a new inquiry on you? That alone can do it.

I wouldnt worry about it, mine took a plunge when I open a few new accounts, and not they have risen again back to where they were.

Unless you have a specific reason to need these scores higher pronto, I would just continue to monitor in order to stay informed of changes etc, and give things time.

Now if indeed other accounts are showing late etc then there may be more work to do, but you are the only one that can answer to that.

[cajunbulldog]

If this is Fico scores you are monitoring & these were your only negatives it is possible you got moved into a new score card segment by Fico. Good point to remember is to shoot for a clean report and not stress too much over scores in my opinion.

[wizz587]

Yeah I will try not to sweat it to much I am just in the beginning of fixing my credit but it was a real fico score from my myfico.com upon further review the only thing that changed on my CR was Sallie Mae changed it from deferred status to paying but it still confuses me why it would drop 30 points.

[1time2many]

Sallie Mae changed it from deferred status to paying but it still confuses me why it would drop 30 points.