01-03-2013 07:56 AM
well my US bank just reported on my equifax. I was at 696 in december when i had a $5 balance reporting on 1 card. By the end of the month i had 2 cards reporting 223/5000 and 394/3500. Dropped me to 691.
Now with my newest account, score has dropped to 677(no balance), lowest i've seen it at since using SW in March '12(previous low is 679). Not a big deal because theres not really anything i want/need to apply for in the next 6 months, and next month i'll have 2 accounts pass 12 months and 2 accounts pass 6 months so i'll probably get a decent amount of points back anyways. Also have accounts passing 12 months in March and April too. But i think i might have had a chance to pass 700 next month when i would've had no accounts under 6 months for the first time in the last 11 months..i just wanted to actually get in the 700 club. Guess itll take a few more months now
01-03-2013 08:02 AM
That's not a tank, it's a rebuilding. You took a hit, but you'll bounce back!
01-03-2013 06:24 PM
credit is like a sling shot. Sometimes you are being restrained and others, improving rapidly and then you hit the brick wall and stay parked a while.
01-29-2013 07:37 AM
Score has rebounded 10 points since.
i had 2 cards reporting, 223/5000 and 394/3500 when my score dropped.
I got back 2 points by letting the 223 go down to zero. so now 1 card with 11% reporting, 1% overall. I paid that all the way to zero, so now i have zero total reporting. Bumped me 8 points lol. I had no milestones this month (no cards or inquiries or AAoA passing major time points)
I am going to let my US bank report a sub 5% balance so we will see how that affects things in a few days. ACtually since i have 2 accounts hitting 1 year and 2 accounts hitting 6 months in february, i might not be able to isolate possible score changes to utilization.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO