Ultimately the rebucket will allow your scores to reach higher. You are now being compared to others with squeaky clean files and long histories. Since you have just been added to this bucket you do not look as good as the rest of the pack (shorter history than the rest for example). As your accounts age your scores will rise in this new bucket--do not worry. 8 pts is not a huge drop--others have posted much larger drops upon a rebucket.
I prefer to think about buckets like this: If there were no buckets and everyone was simply compared to everyone else it would be very hard for anyone just starting out to have hope for good scores. A person with a thin or short file would look very risky versus someone with a long established history. Hope this makes a little bit os sense, keep up your good work--your scores will rise!!
THANK YOU so much for your reply and explination..I felt like i must have done something terribly wrong...in fact every time i get a score drop i feel like im falling into the depths of depression..I have worked so hard to get my scores up and seems the harder i try the lower they go..this was just another stab at my attempt to climb the ladder of ((feeling good bout my work
I just don't think ill ever get there.....sigh.....at least your response made me feel like it was a good thing rather than another slap)
thank you once again for the mental support
thank you for your encouragement...and support..without you guys I would still be wandering around knowing nothing about credit at all )
You have helped me sooo much in many ways..
This drop at this time when i had taken soo much extra care and poured so much money into paying off balances just threw me for a loop and made me feel that it was all useless..I would never have a 700 again!
Use your card get a ding..dont use your card get it cancelled...use it or loose it...Us it and loose points...I just can't figure all this out..it's giving me a headache ))
thanks to you all for my simulance of some credit sanity))
How cab you determine what bucket you are in??? And how can you tell when you are moved to a different bucket???? I have heard alot of talk about rebucketing??
Your explainations would be appreciated.