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? asked in Business & FinanceCredit · 5 years ago

Why my credit score has dropped so much?

A year ago to date a bought a car..my credit score at the time was 716 then I also got a credit card through them. I have paid every single one on time and credit karma says that as well. I called trans Union they said that as well. So how in the hell is it a 670 now??? Like it should only be going up they said I have 1 hard inquiry that's when the bank that pre approved my car Checked my score like r u kidding me...them checking it one time and me being in time with a credit card and a car for year still couldn't make up the difference?

1 Answer

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  • 5 years ago

    The credit scoring agencies are a law unto themselves .. some of their 'rules' are explained on their web site but sometimes it seems they just 'make it up' as they go along ..

    Usually 'something changed' .. remember your score is effected not just by card payments (sometimes by 'outstanding balance' as well) .. all your other 'credit' also counts (mortgage, loans, bank overdraft, phone & utility bills etc etc)- plus the actions of OTHERS at your address (or even a previous address) can effect your credit ...

    You will only be able to discover 'why' by getting a Credit History Report ..

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