Pulling your credit report is the first step to identifying why your score dropped 20 points.
You can identify all recent negative items that may have affected your score, leading to the drop. Remember that the most common reason for a 20 point drop is due to balance changes.
There are 6 main reasons why your Credit Score dropped.
- You spent more money with your credit cards.
- You missed a payment on one of your accounts.
- A negative mark appeared on your credit report.
- An old credit card account closed.
- You paid off loans (student, card, personal, etc).
- You recently applied for a new loan or card (and a hard inquiry appeared on your report).
- In all of these scenarios, the #1 way to find out which affected your score drop is by reviewing your report with a professional.
In all of these scenarios, the #1 way to find out which affected your score drop is by reviewing your report with a professional.
Why Did My Credit Score Drop 15 Points?
There are multiple reasons why your credit score may have dropped. The fastest (& easiest) way to determine what's affecting your score is with help from a credit repair expert (like Credit Glory). They identify and remove errors on your report (& boost your score).
Why Did My Credit Score Drop 2 Points?
While a 2 point drop in your credit score may seem small, it can be the difference from your credit going from good to fair. That's why it's essential to identify the cause. A reputable credit repair company, like Credit Glory, identifies and removes errors from your credit report (boosting your score).
Why Did My Credit Drop For No Reason?
There are a variety of reasons your credit score can unexpectedly drop. Late or missed payments, changes to your credit utilization, and closing old accounts can impact your credit score. Working with an experienced credit repair company (like Credit Glory) is the best way to identify the cause (& improve your score).
Why Did Discover It Drop My Score By 20 Points
Balance changes are the most common reason your credit score dropped 20 points, but that's not always the case. Negative marks on your credit report or paying off loans can impact your credit too. The easiest way to find out is by working with a credit repair expert, like Credit Glory.
Get Your Credit Score Improved Professionally
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (833) 461-0151 or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.