Nerd Wallet shows an 81 point drop in my score, and when I went to check why, there’s nothing under recent changes (and there shouldn’t be, since I haven’t done anything credit-related recently). Where can I go to find the reason for the big drop?
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Often, unexpected score drops are due to an increase in your credit utilization ratio. In general, any time you’re using more than 30% of your available credit, you could see a score drop. However, 81 points is substantial.
If you’re not running a higher balance on any of your credit cards, I’d suggest taking a careful look at your credit report to be sure that all of the information is accurate. (Inaccuracies on credit reports are not uncommon, so it’s a good idea to always review the information you’re seeing carefully when your credit score changes in an unexpected way.
Big drops can also happen if you miss a payment on a credit account or if a collection account lands on your credit report. It sounds like you haven’t done anything major lately credit-wise, but it might be a good idea to go back through your previous month’s activity to look for any changes.
Feel free to post any follow up questions you may have - we’re here to help!