how to enquire about credit score errors?
hey guys
today i checked my FICO credit scores (from transunion) provided free by my providian credit card and saw it is down from 745 last month to 725 this month. i didnt do any hard credit request last month, although i took a carloan in may and paid it off in august ! then how come its down by 20 points? is it possible to enquire about a change in FICO score? if yes, how to do that? plis inform.
Your score is a numeric representation of your credit report. If you had any changes in your credit report it will be reflected in your score. Your report is maintained by Transunion but the score is calculated by Fair Issac company. These companies are completely independent and are not responsible for each other information. The only thing you can do is to request your credit report from Transunion (your own credit pulls have no affect on your score) and review it for any new negative items. Though taking into consideration the fact that your score is 725 i can assure you that you will not find anything clearly negative.
You short-lived auto loan could easily cost you 20 points since opening and closing a new account is a slightly negative event (credit-score-wise). One of your balances could increase and that could have a negative effect also.
July 2nd, 2009 at 7:43 am
need to be careful how frequently you check scores or companies check your scores because they deduct points everytime your scores are looked at.
References :
July 2nd, 2009 at 8:03 am
Your score is a numeric representation of your credit report. If you had any changes in your credit report it will be reflected in your score. Your report is maintained by Transunion but the score is calculated by Fair Issac company. These companies are completely independent and are not responsible for each other information. The only thing you can do is to request your credit report from Transunion (your own credit pulls have no affect on your score) and review it for any new negative items. Though taking into consideration the fact that your score is 725 i can assure you that you will not find anything clearly negative.
You short-lived auto loan could easily cost you 20 points since opening and closing a new account is a slightly negative event (credit-score-wise). One of your balances could increase and that could have a negative effect also.
References :