Why did my credit score drop significantly?

My Costco Amex card was switched to a Visa.  I paid off 2 vehicle loans.  Plus my mortgage company sold the loan as they normally do, to another company.  

This means the credit card account was closed, no fault of my own.  Two paid-off loans were also closed...once again, I didn't close them.  My old mortgage company closed the original loan, after they sold it.  But my credit score dropped significantly.  Should I try to get my credit report corrected?


Hi  Needa916, 

Thanks for reaching out to us. 

We're sorry for the trouble. According to the Consumer Finance Protection Bureau (http://files.consumerfinance.gov/f/201212_cfpb_credit-reporting-white-paper.pdf), about 19% of credit reports have potential errors in them. 

You can contact Equifax directly by clicking the link at the bottom of the Credit Score page. When you click the “Contact Equifax” link, a popup appears with information on how to contact Equifax by mail or via their online dispute form.

Thank you for using Mint! 

Mint Steph
Was this answer helpful? Yes No

No answers have been posted

More Actions

People come to Mint for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach: