Credit score - sudden drop in single month

Hi,

I’ve been trying to understand how the math works. From June to July, my score dropped in excess of 100 pts from the high 700’s and the only drastic change I can think of is my recent Refi of mortgage from 4% to 3.5%. I think it’s quite disturbing if that’s how the system is designed. To penalize survey investors/borrowers who are only trying to maximize the prevailing favorable market conditions. Thoughts? I’m still perplexed!

1521

1 Best answer

Level 15

Aug 8, 2020 10:20:09 AM

You should review your credit reports (free from the site below) to ensure all entries are accurate and that there is no indicia of fraudulent activity.

https://www.annualcreditreport.com/index.action

You might also want to check your credit score (and metrics) from Turbo --> https://turbo.intuit.com/

Level 15

Aug 8, 2020 10:20:09 AM

You should review your credit reports (free from the site below) to ensure all entries are accurate and that there is no indicia of fraudulent activity.

https://www.annualcreditreport.com/index.action

You might also want to check your credit score (and metrics) from Turbo --> https://turbo.intuit.com/

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Credit score - sudden drop in single month