Why did score drop?

Why did score drop?
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Hi all,
I recently opened a credit builder loan. It took the credit bureaus a month to list the account(GRRR, but the credit bureaus don’t hesitate to drop your score in a heartbeat). My score initially went up 6 points. Then it dropped 2 points. There were no new hard inquiries, no new bad accounts(debt) or anything else I can think of. I’m wondering why it dropped?


I think I may have found why it dropped, avg. credit age dropped!


Could be, @deadmanmoshing. Those small movements are kind of like the day-to-day fluctuations of the stock market…mostly noise. As long as the long-term trend is up, you’re good.


@lweston Hi and thank you for your reply and insight. I have been missing in action because I’ve been quite busy. Just did the dreaded move thing and been wrapped up in settling in(it’s a pain but you got to do what you got to do, so to speak).

On the bright side of things, my scores are:
574, 562 and 557(up from the mid 400’s a year ago - Experian, Trans Union, Equifax, respectively). I see getting out of poor range happening by Jan 2020.

As for getting a secured credit card/credit card, I’m holding off on that until Aug next year. The reason is, the credit builder loan pays me then. Who knows maybe I’ll get offers from credit card companies before then. And yup, I’ll look at what they offer before I commit to any of them!

And lastly, I’m attempting to open a savings account with one of the banks in your article about good interest rates for savings. Am planning an emergency fund with that.

I hope this finds you and all of the advisors well and happy! Have a blessed one!


Thanks for updating us! You’re making great progress.