My Credit Score Dropped 200 Points!

  • I have never been late or carry more than 2 credit cards in more than a decade (I have never been late on anything). My credit scores had always been in the early 800's to high 700's. Due to all the credit card issues with retailers; I have had fraud alerts on my accounts for years. I was just able to get my credit scores again and now I am in the mid 600's? When I have asked the credit bureaus and places that provide scoring (credit karma...) - they have either said nothing or that the scoring changes often. I do not carry any debt (and have been this way for over a decade. I am a renter(sold my last house in 2003) so my credit score is checked at least once a year and cable providers but that is it. Please please tell me what I can do or how I can find out why my score is so low. I need to get a new car and this will cost me.

    Thank you for your speedy response.

    L

     

    L,

    Thanks for asking. Your credit score shouldn't fall nearly 200 points without a reason. You might want to check your credit report looking for errors or ID theft issues.The credit bureaus don't like to admit it, but there are errors. As I recall from writing an article on it about 25% of all reports contain significant errors. Often it's when data from someone else is put on your report by mistake. It takes a bit of work, but you can get errors removed from your report.

    We have an article that might help.

    Hope that you find an error and that it's easily fixed!

    Gary Foreman
    The Dollar Stretcher.com

     


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