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My credit fell almost 60 points!


joma787
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Sooooo....  I use credit karma to check my credit score on a semi-regular basis.  I was in the process of getting a collection taken off my account.  I was successful! (yay!)  My credit rose to 753.  Super pumped.  Then I checked it a week later and it was 690! (fail!)

 

I thought I was supposed to get another report from the big 3 when they took off the collection account.  I couldn't access it.  So when I looked around further on the credit karma site I saw that 2 accounts were closed and 2 were opened.

 

Come to find out (which I kind of knew from before) my federal student loans were transferred to another company.  I think that's what these "new" and "old" accounts are.  But can it affect my score that much????

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Sooooo....  I use credit karma to check my credit score on a semi-regular basis.  I was in the process of getting a collection taken off my account.  I was successful! (yay!)  My credit rose to 753.  Super pumped.  Then I checked it a week later and it was 690! (fail!)

 

I thought I was supposed to get another report from the big 3 when they took off the collection account.  I couldn't access it.  So when I looked around further on the credit karma site I saw that 2 accounts were closed and 2 were opened.

 

Come to find out (which I kind of knew from before) my federal student loans were transferred to another company.  I think that's what these "new" and "old" accounts are.  But can it affect my score that much????

I have student loans too.  On my experian report they show up as both positive and adverse.  I'm trying to get that cleared up.  They were consolidated a few years ago and now show up as both current and adverse.  It's only experian. 

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Felix Baumgartner’s jump from the stratosphere is on for October 9! Baumgartner will attempt to break the record for the longest freefall and break the sound barrier.

I think you have just won the longest credit freefall in history.

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Felix Baumgartner’s jump from the stratosphere is on for October 9! Baumgartner will attempt to break the record for the longest freefall and break the sound barrier.

I think you have just won the longest credit freefall in history.

@racecar - LOL!

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  • 1 month later...

You may want to, first, order new reports, even if it means paying for them if you have already received your free report for the year. The scores may have been adjusted again as they processed everything and the final score may not be shown on the report you are currently looking at. Adding new lines of credit and dropping old ones can cause your scores to drop, but I am not sure that 60 points is normal. It is good that you monitor your credit score and you can check out http://ewallstreeter.com/reasons-why-your-credit-score-dropped-3711/ for even more info!

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You may want to, first, order new reports, even if it means paying for them if you have already received your free report for the year. The scores may have been adjusted again as they processed everything and the final score may not be shown on the report you are currently looking at. Adding new lines of credit and dropping old ones can cause your scores to drop, but I am not sure that 60 points is normal. It is good that you monitor your credit score and you can check out http://ewallstreeter.com/reasons-why-your-credit-score-dropped-3711/ for even more info!

@joymali - agreed.  

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