Hi hello

[Shavon2015]

I had a credit score of 600 and one day I checked it again and my score dropped down 55 points and I don’t understand why I have been doing everything right and paying my bills on time can you help me understand? 

[tagteam · Accepted solution]

Sign up for Turbo --> https://turbo.intuit.com/

Also, check your credit reports (free from the site below) for inaccuracies and indicia of fraudulent activity.

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

[DCL63]

Do you have a PayPal account with a balance? If so, that could account for the drop. PayPal never reported to the credit bureaus until last month. Most people with outstanding balances saw all their credit scores drop. 

[Henry38]

• This can happen if you have applied for a loan or a credit card— my score dropped 20 points after I agreed to co-sign for a loan. This a normal ‘HIT’ on your credit score when a credit check is done.