# Credit score, why did it go down after I made a large deposit to savings? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [June 7, 2020, 3:53am UTC](https://boards.straightdope.com/t/credit-score-why-did-it-go-down-after-i-made-a-large-deposit-to-savings/855190 "2020-06-07T03:53:42Z")\ **Posts on this page:** 3\ **Page:** 2
**Author:** ![AlsoNamedBort](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alsonamedbort/32/3213_2.png) [@AlsoNamedBort](https://boards.straightdope.com/u/AlsoNamedBort)\ **Post date:** [June 8, 2020, 4:33pm UTC](https://boards.straightdope.com/t/credit-score-why-did-it-go-down-after-i-made-a-large-deposit-to-savings/855190/21 "2020-06-08T16:33:40Z")
> [@glowacks](#): > > I’m curious as to how credit score compilers would even know about this incident. You must be referring to some score that is known only to the bank you do business with. There’s no reason a deposit into your bank account would get reported to credit agencies. I’ve had credit score tracking from multiple banks I do business with, and they don’t seem to take into account anything than what shows up on your credit report, which is only when you borrow money. Yes, this is being overlooked here. Unless you specifically give them access (which is used for some of the newer “boost” scores), they don’t know how much money you have in bank accounts. How much did your score drop? Scores have a tendency to go up and down a few points every month. Don’t assume a drop is directly related to any one thing you did. ---
**Author:** ![Omar\_Little](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/omar_little/32/269_2.png) [@Omar\_Little](https://boards.straightdope.com/u/Omar_Little)\ **Post date:** [June 8, 2020, 6:20pm UTC](https://boards.straightdope.com/t/credit-score-why-did-it-go-down-after-i-made-a-large-deposit-to-savings/855190/22 "2020-06-08T18:20:57Z")
Credit score companies do not have access to your bank account or investment balances. They monitor your debt balances, your on-time payments with lenders, things like that. Your movement from a 401k account to a savings account, would have zero impact on your credit score, as they would have no way of knowing that you did that. ---
**Author:** ![Tamerlane](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tamerlane/32/7602_2.png) [@Tamerlane](https://boards.straightdope.com/u/Tamerlane)\ **Post date:** [June 8, 2020, 6:42pm UTC](https://boards.straightdope.com/t/credit-score-why-did-it-go-down-after-i-made-a-large-deposit-to-savings/855190/23 "2020-06-08T18:42:37Z")
> [@Corry\_El](#): > > It’s because the firms that calculate those scores, the tripoly of Equifax, Experian and Transunion, don’t have good information about people’s assets and income. They mainly have to estimate creditworthiness based on how the person has dealt with debt. Yeah. I had a credit score that tumbled suddenly as well. It was still fine overall - dropped from low-mid 800’s to mid-upper 700’s depending on the agency. But it was a quite sudden tumble. Why? Because I sold my house and paid off my car with some of the proceeds. And I hadn’t carried credit card debt in decades. They no longer had much to track, just a long lack of defaults. So I started using a credit card occasionally( and paying it off regularly )and magically my score is back to about where it was. Not that I care _too much_ as long as it reasonably decent, but it is interesting the occasional doors that high credit scores will open. I know for a fact I got my current rental in a very tight market based in good part on my very high credit scores relative to other applicants( my house was not yet sold, car was not yet paid off ). [Previous page](https://boards.straightdope.com/t/credit-score-why-did-it-go-down-after-i-made-a-large-deposit-to-savings/855190.md?page=1)