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re: Reasons my credit score is dropping
Posted on 3/7/17 at 4:40 pm to PhiTiger1764
Posted on 3/7/17 at 4:40 pm to PhiTiger1764
quote:
I would think 20 points is probably just a normal fluctuation over 6 months. Have you paid off any loans over that time? Is your credit utilization % a little higher right now than it was back then?
Didn't pay off any loans and my utilization is up but still well below 50% of my credit limit.
3
Posted on 3/7/17 at 4:45 pm to upgrayedd
I made a pretty big purchase several months ago and took two months to pay off. It put my utilization over 20% and I saw a drop of about 30 points. Took about 3 more months to make it back to the original score. That could be your issue.
Posted on 3/7/17 at 4:46 pm to upgrayedd
quote:
Didn't pay off any loans and my utilization is up but still well below 50% of my credit limit.
That'll do it. Utilization is 30.00% of your overall score. You need to be below 30.00% utilization and preferably below 20.00% utilization.
Posted on 3/7/17 at 5:00 pm to upgrayedd
quote:
and my utilization is up but still well below 50% of my credit limit.
Ding! Ding! Ding!
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