8 Reasons Your Credit Score Dropped and What to Do
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Did your credit scores drop for no apparent reason?
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Identity theft
Contact any creditor listed on your credit report that you don’t recognize.
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Error in your credit reports
File a dispute with each of the credit bureaus that shows any inaccurate information.
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Missed a payment due date
If you check your credit reports and are surprised to see a late payment, act quickly to settle your account.
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Credit utilization increased
If your card issuer cuts your available credit limit, your utilization ratio would go up.
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A larger drop of 20 points or more may indicate a problem that should be investigated right away.
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