My credit score just dropped 160 Points!

[Lamppost]

So I have always (past 9 years that I have had credit) had a stellar score in the mid to upper 700s. Two months ago the score was at 814. I just checked now and its at 625! I am currently in the process of buying a house and this really scares me. Other than the mortgage companies hard pull, the only other negative thing would be a Capital One business card that reports to personal credit stupidly. It has a 25k limit and the cycle closed at 27k. 2k over the limit. Obviously thats not good but is that really enough to lower the score by so much? My total revolving personal credit is 110k so its around 22% utilization this one month. If i just pay the balance down now will the score shoot back up to before after the cycle closes?

Anyone have any experience like this?

Thanks

[davidrotts63]

So I have always (past 9 years that I have had credit) had a stellar score in the mid to upper 700s. Two months ago the score was at 814. I just checked now and its at 625! I am currently in the process of buying a house and this really scares me. Other than the mortgage companies hard pull, the only other negative thing would be a Capital One business card that reports to personal credit stupidly. It has a 25k limit and the cycle closed at 27k. 2k over the limit. Obviously thats not good but is that really enough to lower the score by so much? My total revolving personal credit is 110k so its around 22% utilization this one month. If i just pay the balance down now will the score shoot back up to before after the cycle closes?

Anyone have any experience like this?

Thanks

My guess is it's a FAKO score which is irrelevant.
Where are you getting these scores from?

[Lamppost]

Credit Karma and Chase. Even a Fako score wouldnt be that far off though. And Chase I believe is Fico

[ruv]

Chase isn’t fico, unless you have slate.

[davidrotts63]

Credit Karma and Chase. Even a Fako score wouldnt be that far off though. And Chase I believe is Fico

Chase isn’t fico, unless you have slate.

Correct.
And Fakos can be wayyy off. My FAKO has been below 600 for a while my Fico didn't touch below 700

[Lamppost]

How do I see FICO other than freecreditreport? Already used my shot for 2018

[ruv]

Take a free experian.com trial, cancel it and you’ll still have access to your Experian score, updated monthly.

Also, lots of credit card issuers provide free fico score. See here: https://www.dansdeals.com/credit-cards/my-fico-scores-from-all-3-credit-bureaus-obtained-free-of-charge-thanks-to-credit-cards/

You can sign up for credit wise from capital one, even if you don’t have a card from them.

[Lamppost]

Okay Experian shows 709. Not so bad. phew....

[aygart]

Also, lots of credit card issuers provide free fico score. See here: https://www.dansdeals.com/credit-cards/my-fico-scores-from-all-3-credit-bureaus-obtained-free-of-charge-thanks-to-credit-cards/

That looks outdated.

[ChaimMoskowitz]

That looks outdated.

A little better.
https://forums.dansdeals.com/index.php?topic=96.0

[Pad18]

open an account on https://www.creditchecktotal.com/ and cancel it before the 7 days ..
or when you call to cancel they usually offer you a 50% off so keep the account till you're done with the house etc ..

[Mordyk]

open an account on https://www.creditchecktotal.com/ and cancel it before the 7 days ..
or when you call to cancel they usually offer you a 50% off so keep the account till you're done with the house etc ..

my experience is that when you call to close the card they wont pick up the phone. i was on hold for hours.  needed to dispute charges afterwards

[ChaimMoskowitz]

my experience is that when you call to close the card they wont pick up the phone. i was on hold for hours.  needed to dispute charges afterwards

You a VCN.

[Mordyk]

You a VCN.

VCN?

[ChaimMoskowitz]

Virtual Card Number
Should have been "Use a VCN".

[Dovdovmoneytree]

Take a free experian.com trial, cancel it and you’ll still have access to your Experian score, updated monthly.

Also, lots of credit card issuers provide free fico score. See here: https://www.dansdeals.com/credit-cards/my-fico-scores-from-all-3-credit-bureaus-obtained-free-of-charge-thanks-to-credit-cards/

You can sign up for credit wise from capital one, even if you don’t have a card from them.

I think you get the Experian score (Fico8, which is quite accurate) for free by going to Freecreditscore.com Is that not correct??

[PillanSmye]

The mortgage companies aren't going to go off your FICO 08's.  They use a different version.  Unfortunately for you, the mortgage score versions are more sensitive to maxed out cards and multiple cards with balances, so your score will be probably lower and take you out of prime rate territory.

Did you ask the mortgage company what your scores were on your 3 bureau report that they pulled?

You should have paid all of your cards to $0, and left one to report with $2-$5.  It's called the $2 trick and it is most effective for mortgage scores.

[PillanSmye]

I think you get the Experian score (Fico8, which is quite accurate) for free by going to Freecreditscore.com Is that not correct??

No score is more accurate than others.  A score is representative of that specific time that it was generated.  What is important is WHAT score your lender is using.  For a conforming mortgage a FICO 08 is no more relative than VantageSkore 2 or 3.