Why Did My FICO Credit Score Drop?

Log into your myFICO account dashboard, select the 'Score History' tab, and scroll to the line where the FICO score curve dips; the timestamp next to that point gives the exact date of the drop. If you prefer a free source, download your credit report from AnnualCreditReport.com and compare the 'Date reported' fields for new hard inquiries or account changes that line up with the same day.

Knowing the precise date lets you match the dip to a specific FICO version - FICO Score 8, 9, or a lender‑custom model - because each version may weigh events differently. Once you've pinned the day, review the corresponding entries on your credit report to see which factor (late payment, utilization spike, limit reduction, etc.) likely caused the change, setting up the deeper investigation covered in the next sections.

• Look at the number displayed on your credit‑card portal or loan offer; that figure is generated by a specific FICO version (most lenders today use FICO Score 8 or 9).
• Log into myFICO portal and select 'View all scores' to see FICO Score 8, 9, and 10 side by side.
• Check the 'date of score' column for each version; the version whose date matches the day your overall score fell is the one that dropped.
• If you only see a single score on a lender's website, ask the lender which FICO version they use - typically it's FICO Score 8, but some use Score 9 for newer credit models.

Look at your credit report to see if any payment dates are marked 'late' or '30 days past due,' because a single missed payment can knock 30 - 100 points off a FICO Score 8 or 9. Pull the report free from AnnualCreditReport.com or log into myFICO, then scan the 'Payment History' section for each revolving and installment account; note the dates, the severity (30, 60, 90 days), and which lender reported it.

If you spot a recent late entry, compare its date to the drop you identified in the previous 'exact date' step - matching the timing confirms the cause and lets you dispute or catch up on the balance.

• Open your credit report online (AnnualCreditReport.com or myFICO).
• Locate the 'Payment History' table for each credit card, loan, and mortgage.
• Look for any '30 days past due,' '60 days past due,' or '90 days past due' markers.
• Record the account, date, and severity of each late payment.
• Cross‑reference those dates with the day your FICO Score 8/9 fell to see if they line up.
• If the late mark is inaccurate, file a dispute with the reporting bureau and contact the creditor to resolve it quickly.

These steps pinpoint the late payments that may be dragging your score, setting up the next section where you'll examine utilization spikes.

Spot spikes by opening your credit report on myFICO or AnnualCreditReport.com and looking at the balance‑to‑limit column for each revolving account. The numbers show the current utilization percentage; a sudden jump from, say, 12% to 45% is a red flag.

FICO Score 8 and 9 weigh credit utilization about 30% of the overall model, so a spike above the 30% sweet spot often drags the score down a few points. The ratio is calculated per card and across all cards, so one maxed‑out card can outweigh several low‑balance cards.

Next, compare today's credit limits to the limits from a month or two ago. If a limit was reduced, the same balance will appear as a higher utilization, which might explain the dip you just saw.

A lower credit limit can raise your utilization and pull your FICO score down.

1. Open your latest credit report on AnnualCreditReport.com or log into myFICO.
2. Find the 'credit limit' column for each revolving account and note any reductions posted since the date your score fell.
3. Divide the current balance by the new limit for each card; this is your post‑change utilization percentage.
4. Compare it to the utilization before the limit change (balance ÷ old limit). A jump from, say, 20% to 35% pushes utilization into the range that FICO Score 8 and 9 weight heavily (about 30% of the score).
5. If the total utilization across all cards now exceeds roughly 30%, the dip is likely caused by the reduced limit.
6. Check whether the reduction is isolated to one card or across several; multiple cuts amplify the impact.
7. If utilization stayed low despite the limit drop, the dip probably stems from another factor - move on to checking closed‑account age effects.

Closed accounts usually stay on your credit report with their original opening dates for up to ten years, so they continue to count toward the 'length of credit history' factor and do not immediately lower your average account age; only when they finally drop off can the average age - and possibly the FICO Score 8 or 9 - decrease. To see whether any closed accounts are affecting the age calculation, pull your latest credit report from myFICO or AnnualCreditReport.com and compare the 'date opened' column with the current status of each account. 

• Locate every tradeline marked 'Closed' or 'Closed - Paid' and note its original opening date.
• Verify that the account still appears on the report; if it does, its age remains in the average‑age formula.
• Check the 'date closed' field; only when the closed date is older than ten years will the account disappear and stop contributing its age.
• If an account has been reopened, confirm the new 'date opened' shown - re‑issuing creates a fresh start and does not restore the original age.
• Calculate the weighted average by dividing the sum of each open‑or‑still‑listed account's age (in months) by the number of accounts; a noticeable drop after a closure indicates the account has already fallen off the file.

If the average age has shrunk, consider keeping older accounts open (even with a $0 balance) to preserve that credit‑history component.

Review the hard inquiries listed on your credit report today. Pull the report via myFICO or download your free credit report, then scan the 'Inquiries' section for any entries dated within the past 24 months. Each hard inquiry can knock up to 5 points off a FICO Score 8 or 9, and multiple recent pulls may compound the dip.

If you spot an inquiry you didn't authorize, flag it as a dispute with the bureau and request removal; legitimate inquiries will fade automatically after two years. Once you've cleared any unauthorized pulls, move on to the next diagnostic step - checking for new collections, judgments, or liens that could be further pulling your score down.

• Pull your credit report today via myFICO or AnnualCreditReport.com and scan the 'Collections,' 'Judgments,' and 'Liens' sections for any entries dated after the score drop.
• A newly reported collection can knock 30‑100 points off a FICO Score 8 or 9, especially if the balance is near the original amount.
• Court judgments or tax liens appear as public records, stay up to seven years, and may reduce the score by another 20‑50 points.
• If an unfamiliar collection shows up, dispute it through the credit‑bureau's online portal (e.g., Equifax dispute page) to have it removed and potentially restore lost points.

Pull your credit report and hunt for any inaccuracies or stale balances that could be pulling your FICO score down.

Start by ordering a free copy from Annual Credit Report portal or logging into myFICO account. Scan each line for data that doesn't match your records.

• Verify every listed balance; if a loan you paid off still appears as an outstanding amount, it inflates your utilization ratio.
• Flag duplicate entries, misspelled names, or wrong account numbers - these can create phantom debt.
• Check that closed accounts are marked 'Closed' with a $0 balance; a lingering balance can lower the average age of accounts.
• Look for collections, judgments, or liens that are listed as unpaid even though you settled them; they should show 'Paid' or be removed after 24 months.
• Note any balance older than 24 months that remains on the report; outdated info may be removed under the 7‑year reporting rule.

Dispute any error through the credit bureau's online portal, attach supporting documents, and request a corrected entry. Once the bureau updates the report, the corrected data can boost the FICO Score 8 or 9 within a few weeks.

Unknown accounts or fraud alerts on your credit report are red flags that someone may have opened credit in your name, which can instantly drag down a FICO Score 8 or 9.

Look for a credit card you never applied for, a personal loan from an unfamiliar bank, or a hard inquiry from a lender you didn't contact. Notice a sudden address change, a 'pay‑by‑phone' account, or a collection listed under a misspelled version of your name. These items often appear after you've already reviewed late payments and utilization.

If you spot any, file a dispute through myFICO account portal, request a fraud alert via AnnualCreditReport.com, and consider a credit freeze while the investigation runs. Removing fraudulent accounts can restore the affected FICO factor (usually 10 % of the score) and stop further damage.

Yes, you can verify whether the removal of an authorized‑user account caused your FICO score to dip. Look at the exact date the user was removed and compare the score before and after that point.

Check the score trend on myFICO or pull a recent credit report from AnnualCreditReport.com. Locate the 'Authorized User' line in the account details, note the removal date, and see whether the FICO Score 8 or 9 dropped 5‑10 points the same day. Matching dates strongly suggest the removal impacted the score.

If the timing lines up, the drop likely stems from losing the extra credit limit and the account's age that the authorized user contributed. Those factors affect utilization and average account age, both of which can lower a FICO score. A small dip may be temporary; a larger dip may mean you should keep the primary account open or add a new authorized user to restore the credit benefit.

Rebuild your FICO score quickly by following these five proven steps.

1. Pull a fresh credit report from AnnualCreditReport.com and verify the version (FICO 8 or 9) used by your lenders. Identify any late payments, high utilization, or errors that still appear.
2. Pay down balances to under 30 % of each credit limit, aiming for 10 % or less if you can. Lower utilization reduces the 30 % payment‑history factor most quickly.
3. Set up automatic on‑time payments for all revolving and installment accounts. Consistent punctuality improves the 35 % payment‑history component and prevents new negatives.
4. Request a goodwill removal for any isolated, recent late payment that you've already corrected. A lender's acceptance can erase that mark and lift your score within a month.
5. Keep old accounts open and avoid new hard inquiries for at least six months. Maintaining average age and a clean inquiry slate supports the 15 % length‑of‑credit‑history and 10 % new‑credit factors.