Why Did My Credit Score Drop? 8 Common Reasons (and What to Do)

Credit score gauge dropping with a magnifying glass over a credit report

Most score drops come from one of a few causes: a higher credit card balance, a new late payment, a new account or inquiry, a closed account, a collection, or an error on your report. Scores also move a little every month as lenders report new data, so a small dip isn’t always a problem. […]