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scorejuly2014

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Credit score went down
I just started to build my credits so I got a credit card with a $700 limit. I never use more than $300 per month and always pay full amount before due date. Until last month my credit score was 734 and this month went down 6 points so now is 728. Does anybody have any idea about why this happened? I am knew to this credit score thing. Any advice? Tks!

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The problem might be the "usage" which (ideally) should be no more than 20% of your credit limit.  In your case, that would be no more than $140 in a month.

Since you are new to the credit scene, I highly recommend taking the time to read the articles here (look on the left side of the page under Resources) because they are very enlightening.  Teaching people about credit and how to use it is the purpose of this site. The skills needed are not taught in our schools, unfortunately.

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scorejuly2014

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Thank you for your answer! Can my credit score go back to "normal" or get higher if  I start spending no more than 20% from my credit card? Thank you!

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