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Watching Your Wallet: Look out for credit score drops

Watching Your Wallet: Look out for credit score drops
Published: May. 12, 2022 at 4:53 PM CDT
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LANSING, Mich. (WILX) - Your credit score is usually slightly different depending on where you check it, but it should generally be in the same range.

Watching Your Wallet: Myths about your credit score

So, if you use the same banking app over and over to look at your score and you notice your score suddenly dropping, you should be alarmed.

According to Sara Rathner, a personal finance expert with Nerdwallet, that is a sign that things are not OK.

“You need to go in and fix errors on your credit report,” Rathner said. “Maybe pay a bill that you missed the deadline on or even check and see if perhaps there’s some sort of identity theft going on.”

If you notice a drop in your score, you could pull your credit report to make sure there is no identity theft going on. If you do notice an issue, dispute it immediately with the credit bureaus and call up the credit card company involved.

And there are plenty of places you can check in on your credit score, a lot of banks and credit card companies now offer the feature for free in their apps.

More: Watching Your Wallet

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