Give Me Back My Five Bucks

Why the heck did my credit score go down?

WTF! It’s been 10 months since I’ve checked my credit score. Last March, it was 727 … so how is it possible that it’s now 724!? RIDICULOUS!

I have no new credit, no balances on any cards, no new credit inquiries (hard hits), and I’m now completely out of debt.

There’s an error on my credit report though – it said that I had a 30-day late payment in May 2007 for a CitiFinancial credit card … even though I closed that account (and it’s listed as closed on the report) back in 2005. It’s odd. I haven’t even used that card since 2004. I’ll have to dispute it.

But did that one error really affect my score that much? I’m really angry. Not that I think I’ll need my credit score anytime soon … but what if this fall, I find a perfect little condo that I want to buy? What then? You never know when your credit score is going to come back and bite you in the butt. And I know my score is okay, but it just doesn’t make any sense at all. I’ve followed all the rules, and I was really hoping to get rewarded for all my hard work.

Hopefully once this blemish is corrected, my score will go back up. I’ll check again in 6 months.

Also, for those Canadians out there who want a way to check your credit score for free (I haven’t done this yet, but know that it works), please refer to a previous post I wrote last year, called Finally, a way to see your credit score for free.

Author: Krystal Yee

I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.


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