Re: Florida credit scores down, debt increases (interesti
04-12-2012 11:42 PM
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 660, Wally TU 697, EX unknown (05/13/13)
Goal Score: 680 in all three (01/01/14)
Take the FICO Fitness Challenge