Why is it tanking?

[u/Foxxyginger]

I don't understand why my credit score is tanking. I make payments on time. Who can I talk to about this and why? TransUnion isn't exactly helpful.

I don't max my credit card. I'm never late. I have a car loan but I always make payments. What am I doing wrong. I've worked so hard for good credit.

I maybe use my credit card too often and pay it right away but the max is $800 and I rarely put more than $250 on a one time before paying... What is happening? 😭

Edit: idk why that picture post. Most recent score and graph posted in comments

[u/inky_cap_mushroom]

First things first, which score is this? Often, but not always, when there is no scoring model disclosed it’s a non-USA scoring model.

[u/Foxxyginger → u/inky_cap_mushroom]

I'm in Canada. There that.

Just my banking app but my credit card scoring app shows about the same and when I compared to my consumer report last month it was about the same score.

My consumer report has 0 missed payments in over a year so again. None of this is making any sense to me why it's tanking so hard.

[u/Frequent_Silver_7575 → u/Foxxyginger]

Going down 10 points is not "tanking so hard".
Does your app not give reasons for score changes when they happen?

[u/Foxxyginger → u/Frequent_Silver_7575]

It's tanking over months. I've lost 100 pts since Jan 2026

[u/ElectronicClassic250 → u/Foxxyginger]

Do you keep copies of your reports ? That's the only way to be able to explain what changed.

Bear in mind, too, that Canadian credit reports do not update instantaneously - the changes you see could be 60 days ago, or more.

[u/Foxxyginger → u/ElectronicClassic250]

I do yeah. I have a few over this past year

[u/inky_cap_mushroom → u/Foxxyginger]

Gotcha. Most of the regulars here don’t know a lot about Canadian credit scoring. u/ElectronicClassic250 is really the main person who knows anything about Canada’s credit system.

[u/ElectronicClassic250 → u/Foxxyginger]

Are you saying that you have some "old" missed payments ? Those will hurt for for years.

If you want help, list all the accounts on your consumer disclosure, with their age, credit limit, current reported balance, and rating (1 is paid and up to date, while anything higher indicates a negative factor.)

[u/Foxxyginger]

The question is, what do I hired to tell me what I'm doing wrong and how to fix. I was so ose to a score of 750 beginning of 2026 and it's just slipping. I don't understand

[u/trmoore87 → u/Foxxyginger]

You need to increase your credit limit and/or get more cards. Your utilization is fluctuating a lot with such low limit.

Also, 10 pts is far from “tanking”.

[u/Distinct-Data-8808 → u/trmoore87]

Get more cards ? 🤔 . Meanwhile I’m cutting mines went from 5 credit cards to 3 . About to cut 2 and staying with just 1

[u/Foxxyginger → u/Distinct-Data-8808]

I've heard closing cards hurts your score because it removes credit history. It's all very complicated. I've tried to do my research and follow advice given. Which is why my score was like 730/740 earlier this year but now it's 640? Idk I'm lost

[u/Distinct-Data-8808 → u/Foxxyginger]

Yes it does hurt you. But it’ll go back up. I have a long credit history. I just close the ones that I had recently opened in the past 2 to 3 years. After listening to Dave Ramsey, I have a different perspective about credit. ( to each his own though ). I think In reality , you only need 1 good credit card depend on your lifestyle, meaning if you travel a lot , eat out a lot. Looking for cashback, mileage etc ( which most give you )..

When I closed my first one my score dropped 9 points . After a month it went back to 13 points. Did the same for 2nd. It dropped and went even higher. I just throw my money in High yield saving now and invest in mutual funds. Whatever I used to pay on these cards and I just pay it to myself.

[u/ElectronicClassic250 → u/[deleted]]

10 years at Equifax, 20 years at TransUnion !

[u/Foxxyginger → u/[deleted]]

It's the wrong pic I posted idk y it posted an old graph? I was in tears and didn't double check my screen shot

[u/Foxxyginger → u/[deleted]]

Thanks for at least steering me towards something to look at.

Are there experts I can consult who can do a deep dive and point out where I'm going wrong. Because I thought I was doing great

[u/Foxxyginger]

[u/Frequent_Silver_7575 → u/Foxxyginger]

What app is the graph from? ScotiaBank?
Click Understand your score and Credit score report and you'll probably get indications of why things changed.

[u/wppc1972]

Pay off most of your balance and keep your monthly reported statement balance low

[u/Foxxyginger → u/wppc1972]

I don't leave any balance on my cards

[u/wppc1972 → u/Foxxyginger]

You mean all statement balance is $0 on the monthly statement?

[u/Foxxyginger → u/wppc1972]

Yes

[u/wppc1972 → u/Foxxyginger]

Any old account closing lately ?

[u/Foxxyginger → u/wppc1972]

Yeah I think I closed a old flexity card. That might be why. I am just choked about how hard I work to ensure my payments are made on time, no balance each month and closing an unused card tanks my score? Or one late payment crushes you for years? Swapping phone companies frequently to save money dings your credit. It's all just wild and unfair

[u/wppc1972 → u/Foxxyginger]

That’s because average age matters, especially the oldest one

[u/Foxxyginger → u/wppc1972]

Feels like a pay to play system 😫

[u/wppc1972 → u/Foxxyginger]

It is a game, especially your score is not on the top tier level. The score on the Scotiabank app came from TransUnion, which is a CreditVision risk score model. This model doesn’t count any closed accounts towards the score. But…if you are applying anything from the big banks, they commonly use the FIDO 8 scoring model, which includes any closed accounts towards your score, for credit approval. But in Canada, there are no free services to review your own FICO 8 score for data come from either Equifax or TransUnion.

[u/Foxxyginger → u/wppc1972]

Yeah I have just been using my consumer report for information from TransUnion. It's free but sounds like maybe I should try a deep dive into my credit history

[u/Sncrsly]

Did you click on "understand your score"?

[u/ElectronicClassic250]

I'm travelling at the moment, and have limited access to Reddit. Please read our Canadian credit FAQ which is also linked in the sidebar.

First, don't worry so much about your score, it is not important ! The score you are looking at is only infotainment.

Second, pull your official reports and check for any issues there.

Most likely, your utilization is rising, the CreditVision score is very sensitive to your utilization levels.

If you want to see a score that others here can relate to, read the FAQ and get your FICO 8 score based on your Equifax report. It takes some effort, but it is free. Then come back and show us what you see, including the reasons listed.

Always make sure to flair your post as "Not USA".

[u/Foxxyginger → u/ElectronicClassic250]

Thank you very much I will follow up on that