• Last Updated:
  • Apr 19th, 2018 4:31 am
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[OP]
Newbie
Dec 22, 2015
47 posts
10 upvotes
Toronto, ON

Credit Score Tanking

So... my score has been on a rollercoaster ride these past few weeks. Ever since I tried to get a lease approval from BMW, which went through fine, it went up from 720 to 742 then tumbled all the way down to 651 and now it's 627. This is worrying me, any idea why?

My credit history so far is quite light, considering I just came to Canada in 2015. The lease is the first 'big ticket' item on my credit report.
I only have a Scotiabank student CC, which I've always paid off in full every month, no late payments whatsoever. Similarly for my phone bills and what not I've never had a late payment.


This score is from Transunion btw, should I be contacting them about this?
1 reply
Deal Addict
Oct 8, 2012
1434 posts
499 upvotes
TBD
HeroicDeath wrote:
Apr 19th, 2018 2:11 am
So... my score has been on a rollercoaster ride these past few weeks. Ever since I tried to get a lease approval from BMW, which went through fine, it went up from 720 to 742 then tumbled all the way down to 651 and now it's 627. This is worrying me, any idea why?

My credit history so far is quite light, considering I just came to Canada in 2015. The lease is the first 'big ticket' item on my credit report.
I only have a Scotiabank student CC, which I've always paid off in full every month, no late payments whatsoever. Similarly for my phone bills and what not I've never had a late payment.


This score is from Transunion btw, should I be contacting them about this?
You have a short credit history, so applying for credit has a bigger impact on you. I'd recommend signing up for Credit Karma and confirming there isn't anything odd on there. I'd imagine in 30 days it'll bump back up ~30 points.

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