Score Dropped 20 points after closing card

Mar 212011
 

I wanted a tv a year ago and Video Only approved me for a card with a $1000 limit. I paid the tv off last month, and I honestly had no other need for the card so I closed it. I was just alerted my score dropped 20 points, was closing the card a bad move? My experian credit profile said I had to many revolving accounts so I thought it was a good decision. In all I had three revolving accounts.

Anyone one else dream about there FICO score?

Mar 092011
 

Just wondering if I am the only crazy FICO obsessed Person here (applying for a home loan next year) who has had a nitmare that there credit score dropped to 450

score drop from online dispute

Feb 272011
 

I tried to verify a debt from first premiere bank for the last 45 days and I never recieved anything in writing from them at any time about this debt. I think I made a mistake by disputing this online through EQ. as I just got a SW alert that my score dropped 24 points due to the dispute. What happens now? Anyone know if this happens when disputing online?

Settled Dell CC CO and score dropped 30 points. Due to reaging?

Feb 252011
 

I just called in and settled an account that’s been delinquent since 2009 for 50%. It’s just been updated on my CR with $0 balance and shows status as Paid – Less than full balance. I thought this would raise my score, however, my score dropped 30 points.

 

Is this normal? Is this what I keep hearing about rebucketing?

 

Any assistance would be appreciated.

a ccbalance this mo and score crashed by 10 pts… advice?

Feb 192011
 

This i my curious question.   I generally pay my cc off each month.   (cap one scured card)  And I know I need to pay the balance in full and not charge anything until after the 15th of the month.  

 

Well i had a duh moment this week and paid a bill on the 14th with my cc and realized I just made a duh move after I hung up lol..   So with at $500 credit limit I had a balance report of $260..   DOH!   So my EQ score dropped 10 points when it registered.

 

So out of curiosity, when i pay it in full again next month (and not use the dang thing)  will I recover those points?  or was this just a painful lesson learned? 

 

Thanks April

Old Collections – Paid off for a Lower Score

Feb 102011
 

I am beyond frustrated.

 

I spent from September of 2009 until around November of last year bringing my credit up from a 470 to a 630 by way of paying off open debts and paying my credit card on time, etc.

 

My goal was to get a mortgage and I had some collections on my report, many of them several years old but I knew that the lender would require me to pay them off and so I did, in November of 2010.  My score then dropped around 50 points to a 570 again.

 

After researching collections online I realize now I may have jumped the gun in doing this and maybe I should have gotten approved for the loan before paying the debts.

 

What I cannot find an answer to, is how long will it take for my score to recover from this?  I payed off 6K in old debt and my score dropped 50 points!!  This makes no sense!

Equifax – Down 7 points for inquiry, Up 7 points for new loan

Feb 042011
 

I was surprised I GAINED points for getting a loan. Thoughts?

 

Here’s the short story.

 

Pulled all three scores 1/27/11 and these were the stats

Equifax – 10 inquires (most recent 08/10)

 

Negative

  • Shows no negatives

Positive

  • Mortgage – opened April 08 – paid as agreed
  • Capital One Credit Card – opened July 07 – paid as agreed
    • Limit – $1750
    • Balance owed – $0
  • USBank Credit Card – opened Jan 07 – paid as agreed
    • Limit –  $1750
    • balance owed – less than $100

 

At that time, my score was 712.

I was then approved for a loan by a credit union and my score dropped 7 points for the inquiry. No surprise there. But then the loan posted and I gained those 7 points back. Is it because my mix is better now? I use to only have a mortgage and 2 credit cards (revolving). With the bank loan, I now have an installment. Am I correct?

Score drop due to baddies deleted…

Feb 022011
 

I had 5 baddies that got dropped off (7year mark) and my score dropped from 682 to 585.. whaaaahhH!! Is it because of those baddies since nothing else have changed other than the negatives accounts aged out.

 

I have 3 current accounts that are in good standing. What else can I do to regain my score back up?

 

Please advise.

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