I guess I still don't understand the process. Why would my score go down when I didn't do anything different?
I am trying to buy a house, this isn't helping.
Got a notice that my score had dropped 7 points, supposedly because of "heavy use of revolving credit".
Except, I didn't have any heavy use and in fact have been continuing to pay down balances.
The only thing I did do was close an account I no longer use, one that was in good standing.
Here is what FICO shows:
ELAN FINANCIAL SERVICES (XXXXXXXXXXXXxx97) |
Account opened: 12/2010 Description:Account closed at consumer s request Closed or Paid Account/Zero Balance Amount in H/C column is credit limit | | Previously reported | Newly reported | | Balance: | $0 | | | Past due: | $0 | $0 | | Status: | Pays account as agreed | Pays account as agreed | | Last activity: | 12/1/2011 | 12/1/2011 | | Description: | Credit card Amount in H/C column is credit limit | Account closed at consumer s request Closed or Paid Account/Zero Balance Amount in H/C column is credit limit |
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