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nickeltree74

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Why did my score drop 9pts in 1 month?
From some of the questions and answers from the community on this subject I am not alone. Apparently this kind of jump happens way to often to way to many people without cause or explanation. Does ANYONE have an suggestions to combat this wrong by the credit companies?

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Small Changes - Big Impact

I've been tracking both my credit score and my wife's on a nearly weekly basis for a while now and have found small things can have a large impact.  One week the score dropped 37 points and I found it was caused by a single credit card with a high utilization rate.   This was a store card with just a $400 limit and the outstanding charges were $337, giving it a utilization rate of 84%.  Overall, we only had $2000 outstanding on total card limits of $61,400 or 3%.

The lower score stayed that way until this card's outstanding balance was updated.  To avoid it again, response is to either cancel cards with small limits or request an increase in the limit. 

Not sure what's impacting you, but just pointing out relatively small items can have big impacts.

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