My FICO score was going high even though I had serious delinquencies before. I have bought a new car and I was added as co-applicant. My wife was the primary applicant and her credit history has been good. Since then my FICO score started going down. The following is the reason for decline in the score which I do not understand.
Please help me in understanding this and what should I do to avoid further decline.
The proportion of loan balances to loan amounts being reported on your installment accounts is too high