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canobie

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why did lose l lose 51pts on my credit Rating?

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Since you have not provided any information about your credit situa tion and we do not have access to that informat7ion I suggest you begin reading the articles on this site and learning about credit so that you can determine what happened for yourself.  Teaching people how credit works and how to build and maintain a good credit score is the purpose of Credit Karma.

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51 the Magic Number?

I am giving up on trying to rebuild my credit. The system is stacked against you. I had 2 credit accounts that were in good standing and two auto loans that I did struggle to pay after being laid off at two different periods.

One of the credit accounts was over 18 years old, and although it was closed over 5 years ago it was still on my report and helped my score.

A week ago that 18 year old CLOSED account came off of my credit report and my score took a nose dive from 686 to 635.

It's like the system is designed to make you fail. I'm not going to follow any recommendations to open additional accounts or take out a loan to try and improve my score.

It's unreal how the more accounts you have the better your score or favorability. I would think that a person with fewer credit accounts open is less of a "risk," but unfortunately creditors don't agree.

Nonetheless, I will bide my time until the car loans fall off (2017 and 2018) and call it a day.

I have one major credit card that I have had going on 2 years and I pay it religously, utilizing about 15-26% of my limit, and I pay it in full EVERY month.

If that isn't enough to eventually get me into the mid 700s then I don't need to worry about it.

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