Credit Score

[Aw564608]

My credit score just a few days ago was 679, then all of a sudden it dropped 37 points. Can someone explain what happened? And why?

[AdrianG001]

Sudden, drastic credit score drops are never a very pleasant surprise. If you have been working hard to improve your credit scores, either on your own or with the help of a professional, then a credit score decrease can be downright infuriating. Unfortunately, there is not always an easy answer to the question “why did my credit score suddenly drop?” The answer to that question will depend upon a variety of factors, all of which can be found in the same place – your credit report.

Here are the three possible reasons for sudden drop in credit score.

Scenario #1: You Forgot to Make a Payment

Scenario #2: A New Derogatory Item Was Added to Your Credit Reports.

Scenario #3: You Are a Victim of an Error or Identity Theft.

Regards,

Adrian

Tax Consultant