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mailizzel

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why did my credit decreased -16
i have been paying for my care credit on time if anything before the due date and my score decressed by -16 am not understanding how that happen if anything it should have gone up right? I have been paying more then what due amount is as well am just very confused

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To determine the reason for the change, you have to compare the past report to the current report.   You have to look at everything.   Did an older account disappear?  Has you Utilization changed?   Did you apply for credit for for a credit increase?  Does a new inquiry show up?   Was a new account opened?  Did the available credit on one of your cards increase or decrease?    Believe it or not, 0% Utilization can have a negative impact on your credit score.  It does not show credit usage which is a negative factor.   I was adament on paying off all credit before the reporting date so I was always at 0%.  I read an article about credit and decided to let the creditors report a balance, although I ensured it was paid so that it showed 8% overall.  When I allowed this balance to be reported, I actually saw a 20 point increase in my score.

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Credit scores do not care about the actual loan balance. That is called installment credit. Now revolving credit (credit cards) do care how much of a limit you have versus how much you owe. But when it comes to like car loans, or mortgage, the actual dollar amount and what you pay down your debt with won't reflect the score. You should look for any notifications to see if something might have affected it. If that doesnt work, try a credit repair company, Creditmergency does free consultations, they can run your credit and tell you what is going on

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