How can a credit score just disappear?!

In the beginning of the year, I found out this year that I now have no credit score after having moved in with my parents to finish school on a part time basis. How does a credit score just disappear if you have previously proven to have good credit (really it was over 750!?) I had to build my credit score up all over again, and believe me its hard to build from nothing. I got a credit card that reports to the credit agencies. I am stuck riding 642 now and it took 11 months to do that. I have saved up $24,000. Why can't I get a home loan?

AARGH!! <-- like Charlie Brown after Lucy Screws him over once again by pulling back the football after promising to hold it.

1 Answer

Would need to know a little more about your prior credit to completely answer your question, but I assume one or both of the following happened: you had limited tradelines that were old and fell off your credit report with no new activity or accountss, or you were listed as an authorized user on some accounts (of parents or sig other?) with no real tradelines of your own. Used to be great to be added as an authorized user and piggy back on other folks accounts, but lenders and credit report providers caught onto that a few years ago. Had a client who (several years ago) went from no score to 750 in a month solely because mom added him to three of her long time accounts. That's clearly manipulating the system, good thing it's no longer effective to do it!