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So recently my husband purchased a truck, and his score was 680 and now his score is 645, this is the score on credit karma. My questions are, why did it significantly drop 35 points, also should I take this score as the real score or look at thru Experian or the others? And they went thru so many banks and each 1 was a hard inquiry but I thought they only count a few when you are trying to get an auto loan, have I been given misinformation ?
Look thru Experian and others if you can. And/or via credit cards – some include a credit score.
I think each different bank’s hard pull counts against you, but multiple inquiries from the same bank count once.
I had strange event on my credit score last year when I paid off my car. Within the reporting period my credit score dropped 45 points and then nine weeks later, it rebounded back to within a point or two of the original score. Seemed rather bizarre that I retired a four year loan, in excellent standing, and after the payoff I took a major hit. I would check around like [USER=29]@David W[/USER] suggests but in the meantime maybe it will rebound within the next 60 days.
I paid off my house and while I don’t recall my score dropping much, I only have a B+ in one of the categories because I only have one type of credit!