Personal Finance

Reason for credit score drop?

  • Last Updated:
  • Dec 7th, 2018 7:14 pm
[OP]
Newbie
Nov 14, 2007
75 posts
128 upvotes

Reason for credit score drop?

Hi guys,

I was checking my credit score on the CIBC app yesterday and found my credit score dropped quite a bit during the last 4 months (from 780+ to 730). this freaked me out a bit cus I have no idea why. all my bills are paid in time. i did get married in augest, and increased my credit card limit by 3k. that's about it. anyone here has some experience in this? or is there any professional i can visit to find out exactly why? thx in advance!
5 replies
Deal Fanatic
User avatar
Mar 23, 2008
7453 posts
4315 upvotes
Edmonton
Look at your report, not just your score. See what's different.

C
Deal Fanatic
User avatar
Mar 23, 2008
7453 posts
4315 upvotes
Edmonton
If you search on the site for "free credit report", you'll find references to Credit Karma, Mogo, and Borrowell. Some deal with TransUnion, some with Equifax. You should check both. You can also request your complete credit report from each company. And finally, many banks are offering free credit reporting. RBC, Scotia, etc. I think most of those are based on TransUnion.

C
Deal Fanatic
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Aug 24, 2016
5005 posts
3975 upvotes
We’re all a little s…
bonejo wrote:
Dec 7th, 2018 12:19 pm
Hi guys,

I was checking my credit score on the CIBC app yesterday and found my credit score dropped quite a bit during the last 4 months (from 780+ to 730). this freaked me out a bit cus I have no idea why. all my bills are paid in time. i did get married in augest, and increased my credit card limit by 3k. that's about it. anyone here has some experience in this? or is there any professional i can visit to find out exactly why? thx in advance!
The CIBC score is powered (supplied) by Borrowell.
Unfortunately the score is all you get.
What you need to do is get your full report with score from Borrowell, to have instant access to your Equifax credit file for free.

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