Credit Score Dropped over 100 points in less than a month.

bubby08

Hello I have a question, I have asked Equifax but they are yet to respond. In the last month my credit score has dropped over 100 points. In that period the only change to my file is a disputed credit agreement which full disclosure has dropped off my account. Other than that No changes. I haven’t applied for credit for over a year, the last time I was late in paying my credit card was over years ago. And my only other finance is my credit card and car. Any thoughts why thus could be?

thanks in advance

[Deleted User]

It's because of the agreement falling off your file.  Any change, whether good or bad, will tend to drop your score.  

But it's not seen by anyone and not a factor in lending, so don't worry about it.

bubby08

I thought that might be the case however 15 20 points maybe, however a 115 I thought is quite significant.

Hasbeen

bubby08 said:

I thought that might be the case however 15 20 points maybe, however a 115 I thought is quite significant.

Why would it be significant , when its a made up score that only you can see? 

Its your credit history that is significant. check your credit reports for free at the main providers.

bubby08

Yes people say the score is irrelevant but it’s based on your credit report so it obviously has some kind of relevance

[Deleted User]

Your horoscope is based on your date of birth, but that has no relevance either.

bubby08

Ok thanks for the input, so on Equifax the give you a summary of your credit eligibility based on your report, do you pay any attention to that?

thanks

[Deleted User]

No.  The credit checker is a pretty rough tool, though more accurate as it uses some basic actual criteria from lenders.

But nothing beats taking an objective look at your files and seeing where any weak spots are. Although lending critieria vary, most of it is just common sense.

penners324

Download the Clearscore app (it uses Equifax) and check the most recent report it gives you. Is that data correct? It'll list all open accounts and reported balances and all closed accounts.
Only if there is something out of the ordinary or an you dont recognize do you need to do anything.

bubby08

Yes it’s the same as my Equifax report

bubby08

I think I may have found more information, having trawling through my credit report, I have now found an account from 5 and a bit years ago listed as a linked address. This account looks as it has been marked as defaulted. However it was last updated in 2018 so I have to imagine that it has been on my credit report since that time. So still doesn’t explain the sudden drop of 100 + plus points. What relevance does a linked address have on my file it’s under a linked address rather than a previous address.