Moderator
Revelate
Posts: 8,895
Registered: ‎12-30-2011
Re: Florida credit scores down, debt increases (interesting stats)

Credit card issuers started issuing new cards again, and banks started lending again.

 

Why wouldn't they expect people's score to go down when slews of folks were opening up new tradelines?  Seems like an obvious cause and effect to me.

 

Quoting from the article: "Yet, the average credit card debt in Florida fell considerably – to $5,916, from $6,919. This followed the national trend."  Revolving utilization has trended to be much more important for one's credit score than installment debt amounts.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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