Personal Finance

Credit Score dropped by 61 points in matter of few weeks according to Credit Karma, please help!

  • Last Updated:
  • Feb 27th, 2018 12:37 pm
[OP]
Member
Feb 3, 2013
258 posts
29 upvotes
NORTH YORK

Credit Score dropped by 61 points in matter of few weeks according to Credit Karma, please help!

Hello financial gurus!

Today, I decided to randomly check my credit score and I found out that my credit score has dropped by 61 points in just a week or two

Would anybody be able to tell me how something like this is possible and how I can resolve this issue?

I am right now sitting at credit score of 590 (ERS)

and I am dying with anxiety right now because for months I've been applying for jobs and I would honestly be diagnosed with depression if credit score gets in the way of getting hired
6 replies
Deal Guru
User avatar
Mar 23, 2008
12331 posts
8747 upvotes
Edmonton
You need to look at the details of your report, rather than just the raw score. Get those details, and come back.

C
Jr. Member
User avatar
Apr 24, 2016
131 posts
43 upvotes
Something less then favorable was reported. These could include, Increased utilization (credit card balances) a late payment, a reported collection etc.
The only one you can fix fast(next month) is utilization. If its one of the others and not reported incorrectly they are there for 6 years.
[OP]
Member
Feb 3, 2013
258 posts
29 upvotes
NORTH YORK
CNeufeld wrote: You need to look at the details of your report, rather than just the raw score. Get those details, and come back.

C
do you recommend any places where I could get full report?
Deal Guru
User avatar
Mar 23, 2008
12331 posts
8747 upvotes
Edmonton
jkim89 wrote: do you recommend any places where I could get full report?
Credit Karma has all the details that Transunion will display to you. So go through the details. Look for high credit card utilization, missed payments, lots of inquiries...

Borrowell has all your Equifax details. Same process.

Different banks and credit card companies also give access to your credit information. CIBC, Capital One (or MBNA?), and RBC come to mind.

You can also (and should) order your free copies from Equifax and Transunion directly for free annually, or pay for immediate access to your credit report from them. They may give suggestions as to what's affecting your score.

C
Deal Addict
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Mar 9, 2012
3561 posts
2220 upvotes
Kitchener
Wait a month and see if it changes. My report went from 787 to 653 then back to 787...Worried? Yes...relieved when things corrected themselves.
Why can't we all just get along?

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