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friday126

Sudden Drop in Credit Score

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Searched around the forum and didn't see much in the way of a similar post. 

I get monthly credit updates from credit karma and mint (because I do my taxes through them) and for a few years now my score has inched up a point every month or two but logging on at the beginning of this month both credit karma and mint show a 47 point drop from transunion and a 73 point drop from equifax. Digging around I see nothing new or anything that looks like ID theft/fraud with hard inquires, payments made, open accounts, etc. Just a large drop in score. I call both C.K. and Mint and they direct me toward iquifax and transunion because they 'only get the numbers from transunion, etc and report them to me'. So transunion and equifax tell me to get a report on what 'key factors' (used those words like an industry term) from the monitoring companies. Which in turn just tell me to go talk to FICO and the National Credit Score Council. So obviously I'm getting the run around. Is my only option to file a dispute? It's odd because there seems to be so little to dispute. There are actually no real changes to my report with loans, hard inquires, payments, etc. Thoughts? Thanks...

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First, your Credit Karma and Mint scores are NOT your real scores.  They are only an approximation.

Second, sometimes they change the algorithm used to compute the credit scores without any notice.  

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Credit scores are nothing but a scam anyway.  I would just pull a hard copy of all 3 reports directly from the CRAs.  Hard copies thought the mail, not online copies.  I would scour through them with a fine tooth comb to make sure all payment histories, amounts, balances, accounts and dates are accurate.  If everything is accurate, I would ignore the number issue since it is mostly irrelevant unless you are currently buying a house, car or other large loan.

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There's nothing to dispute here. And your only 'real' score comes from FICO. Any other score is completely meaningless to creditors.

Discover will give you your Transunion FICO 8 score free of charge, and you don't even have to be a Discover customer.

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