Why did my credit score drop?

The most common reasons a score falls, and how to find out which one applies to you.

Higher card balances

The most common reason. If a bigger balance was reported this month, your score can drop, even if you pay in full.

A late payment or new negative

A payment reported 30 or more days late, a new collection, or another negative item can cause a large drop.

New credit or closed accounts

A new application, a new account, or closing a card (which removes its limit) can lower a score.

Something that is not yours

A sudden drop can also come from an error or identity theft. Pull your reports, look for accounts or inquiries you do not recognize, and dispute anything wrong.