My Credit Score Dropped For No Reason
Posted on October 27, 2009 at 2:29 am
My credit score dropped for no reason! I don't exactly know how that happened but that's so crazy! I mean I have been making all my payments on time, so I don't see any reason why it should go down
Posted on October 27, 2009 at 2:33 am
Hi, Mark!
If you're saying that your credit score dropped for no reason, have you actually reviewed through your credit report? For the most part, what's inside a credit score consists of the information on your credit file. You may have incorrect and inaccurate information listed on your report which is why your credit score dropped.
Posted on October 27, 2009 at 3:02 am
In other words, you may be a victim of credit card identity theft, if you say that your credit score dropped for no reason.
Other than that, the credit score computation method is still very much vulnerable to errors. Since the credit bureaus handle so much information--read: in the billions--mistakes on your credit file are inevitable.