Hello,
Last year when I applied for a new home mortgage loan the loan officer pulled all three credit scores on that day (FICO score).Then my Equifax score was 695, Experian score was 715 and TransUnion Score was 705.
I have a 20 year credit history with no inquires, no public records. There is only one late payment, last reported 3 years ago. I had three credit cards, rent - all paid on time. My mortgage loan was approved and my first payment on that loan was August 1, 2009. Fast forward to September, 2010 I pulled my Equifax and Trans Union scores and credit reports.
But shockingly enough Equifax score is 690, Trans Union score is 699.
I have always made on-time payments on my mortgage. Despite all of this, my scores dropped. I have done positive things, but my scores went negative instead of positive. I don't understand. The only thing I can surmise is that I'm being penalized for taking out a mortgage loan. Everyone wants there own home.
Can you help please?
score drop
Hi Rena,
Can I know if you have closed any of your credit card accounts? If you have, then that may have resulted in the loss of the points. Check if there are any wrong listings out there on your credit report. If there is any discrepancy, dispute that with the credit bureaus.
Thanks,
Aaron
score dropped
Hi all,
That's me above :)
Rena, I think you should also check if there are any new accounts added on to your credit report apart from the mortgage. Check if the mortgage payments are correctly listed and also check if any of your credit history has dropped.
Thanks,
Aaron