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Question By
venkichandu

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Why my Credit Scored is reduced ?
Hi Team,

Can you please tell me why my credit score is reduced from 703 to 685 ? I am doing all my transactions correctly. I am paying my bill on time and everything is good. I am bit confused. Can any one please help me regarding this. Thanks in advance.

-
Rao

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Check the following

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One of the followings might be a reason for a 18 point drop:

1. Have the balances increased and your utlization has gone up more than 50% of available credit?

2. Have you opened a new account recently (that will decrease your average age of accounts quickly)?

3. Added any enquiries recently?

In my knowledge, these could be the reasons for the scores to drop. Generally for every factor of a credit score, there is a threshold. Cross it and you will see a drop/raise.most likely you were on the edge for one factor and went overboard a little bit.

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