How do I find out why my credit score dropped?

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  • August 21, 2023 at 9:01 pm #25917
    Geoff Massanek
    Moderator
    August 21, 2023 at 9:24 pm #25926
    Team StellarFi
    Keymaster

    Your credit score is calculated based on the information that is updated in your credit report(s). If you see a score drop at any time, your best bet is to check your credit report for reported late or missed payments, details about your credit utilization rate, or a credit account you may have forgotten about. Sometimes there are errors in your credit report. If that’s the case, you can dispute the error to get your score back on track.

    Other reasons for a score drop include identity theft or credit card fraud, cosigning a debt for someone who didn’t pay as agreed, or getting a joint loan with someone with bad credit.

    In short, check for changes in your credit activity and dispute any inaccuracies.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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