Question

Why does credit score drop suddenly by 30+ points? Bills paid on time, credit usage less than 5%, , no new cards, but since Jan it's dropped. Pulled a report and no red flags, looks same as last year, only thing is two late payments in 2014 when Costco switched from American Express to Visa and there was some confusion. Unexplained drops are worrisome!  

Answer 1

Are you planning to get an auto loan or mortgage soon? Use an app that has a score simulator and it might give you ideas how to improve it

Answer 2

Mine drops when I pay off loans. Did you pay something off? Or when my student loans increase I think it goes down too.  

Comments

@trachoma This is what I was going to say too! The ratio of on time payments to total debt drops when you pay something off. Drives me crazy, but it is what it is ;)

---

@salsala No, no debts

Answer 3

Have you added to the balances any? Or used a card that you had previously paid off?  

Comments

@benil Nope! Only use one card for cashless envelope expenses and pay it off every month.  

Answer 4

Maybe because you aren't using credit? It drops if there are no changes.