Why Did My Equifax Score Drop?

Grab your latest Equifax credit report right now to see what triggered the score drop. This report is the first diagnostic tool you'll use in the sections that follow.

1. Open a browser and go to Annual Credit Report website. Choose Equifax, enter your personal details, and request the free report (once every 12 months).
2. If you need the report sooner, sign up at Equifax's official site. Create a secure account and purchase an instant copy; the process is fully online.
3. Confirm that your name, Social Security number, birth date, and address match what appears on the report. Mismatched data may indicate identity mix‑ups that can affect your Equifax credit score.
4. Download the PDF or view the online version. Scan the five key sections: payment history, credit utilization, hard inquiries, public records, and collections.
5. Note any new late payment, collection, charge‑off, or spike in utilization. Write down the dates; you'll reference these items in the 'recent late payment,' 'collection appeared,' and 'credit utilization' sections that follow.

A recent late payment can cause your Equifax credit score to drop. Payment history accounts for about 35 % of the score, so a 30‑day or 60‑day delinquency signals higher risk and often triggers a noticeable dip, especially if the missed payment is recent. The later the payment, the larger the impact, and the entry can stay on your Equifax credit report for up to seven years, though its weight fades over time.

A collection or charge‑off on your Equifax credit report can knock several points off your Equifax credit score.

• Payment history, which makes up about 35% of the FICO model, treats collections as serious delinquencies, so the new negative entry drags the score down.
• The entry replaces a previously 'paid as agreed' status, turning a clean account into a derogatory mark that persists up to seven years.
• Even a small balance in collections hurts more than a high credit‑utilization ratio because it signals risk of default.
• If the collection shows as a charge‑off, the account is considered written‑off debt, which is weighted heavier than a simple late payment.
• You can mitigate the impact by disputing inaccurate entries or negotiating a 'pay for delete' with the creditor; see Understanding collections and charge‑offs for guidance.

If you saw your Equifax credit score dip after a sudden rise in credit utilization, the spike likely triggered the drop because utilization makes up about 30% of the FICO model and a higher balance signals risk. Keep your utilization low by paying down balances, spreading purchases across cards, or asking for higher limits, and watch the change on your next Equifax credit report pull.

Hard inquiries on your Equifax credit report can lower your Equifax credit score, typically by a few points, and they stay on the file for 12 months (visible for 24 months).

• Each hard inquiry may cause a dip of up to 5 points; the impact lessens as the inquiry ages.
• Inquiries appear under the 'hard inquiries' section of the Equifax credit report; pull the report to see the exact count.
• Multiple applications for the same type of credit within a 45‑day window are usually counted as one inquiry by the FICO model.
• Legitimate sources include credit‑card applications, auto loans, mortgages, and personal loans.
• Unexpected inquiries may signal identity theft; dispute them through the Equifax dispute portal or contact the creditor directly.
• If the inquiries are accurate, the score will recover automatically after the 12‑month aging period.

Now that you know how hard inquiries affect your Equifax credit score, pull your Equifax credit report to verify the entries before moving on to the next factor - closing or paying off an old account.

Closing or paying off an old account can lower your Equifax credit score because it shortens the average age of accounts and may push your credit utilization higher.

The FICO model weights account age about 15%; losing a long‑standing line removes that positive factor from your Equifax credit report.

If the paid‑off balance was large, your overall utilization may rise, and the change shows up on the report you pull as the first diagnostic step.

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If the primary cardholder removes you as an authorized user, the account vanishes from your Equifax credit report, which can cause your Equifax credit score to drop. You lose the positive payment history attached to that line and any reduction in overall credit utilization the account provided, both of which are major factors in the FICO model.

Check your Equifax credit report right away to verify the change. If the removal hurts your score, ask the primary holder to add you back, or consider opening a new revolving account in your own name to rebuild payment history and improve credit utilization. The next section explains how errors or identity mix‑ups can also affect your score.

Errors or identity mixups on your Equifax file happen when information that doesn't belong to you appears on your credit report, and they can cause an unexpected dip in your Equifax credit score. Spotting them starts with pulling your Equifax credit report, which we'll revisit in the dispute step‑by‑step section.

Common mixups include a misspelled name linking you to another consumer's late payment, a closed account mistakenly shown as open, a debt from a stranger that shares your Social Security number, a duplicate file that merges two credit histories, or a fraudulent hard inquiry from a loan you never applied for.

Any of these inaccuracies may lower your payment history rating or inflate your credit utilization, both of which can lead to a score drop. When you see an odd entry, you can correct it through the Equifax dispute process.

Equifax refreshed its data or rolled out a newer scoring model, so the same information can translate into a lower Equifax credit score.

When the model changes, the algorithm weighs the five FICO factors differently; things that were neutral before may now drag the score down. Typical triggers include:

• Payment history now counts slightly more than before, so a late payment from two years ago can cut points.
• Credit utilization may be capped at a lower threshold, making a 30 % balance appear riskier.
• Length of credit history can be penalized if older accounts are deemed 'inactive.'
• Hard inquiries are weighted tighter, so even a recent credit‑check can have a bigger impact.
• New account types (e.g., a recent retail card) may be treated as higher risk under the updated formula.

Because the Equifax credit report is the first diagnostic step, pull it now to see which of these factors shifted. In the next section we'll explore why Equifax can drop while the other bureaus stay steady, highlighting the nuances of each agency's model updates.

Equifax alone can drop because it refreshed your credit file later than the other agencies, pulling a new account status, a recent hard inquiry, or a revised payment‑history entry that only its data partners reported. That late‑night update may cause the Equifax credit score to dip even though TransUnion and Experian still show the older information.

The other bureaus didn't change because they have not yet received the same lender feed, or they weight the new data differently under their scoring model, so their credit scores stay steady until the next cycle. After noticing the drop, pulling your Equifax credit report (as discussed earlier) helps verify which item triggered the change before you move on to dispute errors step‑by‑step.

Your Equifax credit report shows the error, so you can file a dispute and potentially restore the score.

1. Pull your Equifax credit report (as described in the first section). Highlight the line number, date, and creditor name of the inaccuracy.
2. Collect supporting documents - payment receipts, bank statements, or letters from the creditor - that prove the correct information.
3. Go to the Equifax dispute portal or download the mailed dispute form.
4. Fill out the online form (or the paper form) with your personal details, the exact error description, and the line number from step 1. Attach scanned copies of the documents from step 2.
5. If you use mail, place everything in a sealed envelope, write 'Consumer Statement' on the front, and send via certified mail with return receipt. Keep copies for your records.
6. Equifax must investigate within 30 - 45 days. When the investigation closes, they'll send you a written result and an updated copy of the report.
7. Review the updated report; if the error is corrected, your Equifax credit score should reflect the improvement. If the dispute is denied, file a follow‑up with the creditor or escalate to the CFPB using their online complaint tool.

Proceed to the next section to see how scoring model updates can affect your Equifax credit score even after a successful dispute.