topic Gardening question in Understanding FICO® Scoring

Gardening question

wvsongbird — Mon, 06 Apr 2015 19:57:02 GMT

I am trying to get my credit score over 760 before applying for a mortgage. I opened a Discover card last June that gives the credit score monthly. I have been charging 1 item per month (under 10% utilization) and paying it off on the due date. For months, I was getting a 5 point bump in credit score every month. Earlier this month, Discover upped my available credit by $250, but I kept doing the "buy 1 thing, pay it off" routine. This month, I LOST a point. The only other things on my credit report is an auto loan, and a student loan, both of which are current, and paid on time. There are no derogatory items or inquiries. Can someone explain to me why I lost a point?

Re: Gardening question

tonyjones — Mon, 06 Apr 2015 20:21:05 GMT

@wvsongbird wrote:
I am trying to get my credit score over 760 before applying for a mortgage. I opened a Discover card last June that gives the credit score monthly. I have been charging 1 item per month (under 10% utilization) and paying it off on the due date. For months, I was getting a 5 point bump in credit score every month. Earlier this month, Discover upped my available credit by $250, but I kept doing the "buy 1 thing, pay it off" routine. This month, I LOST a point. The only other things on my credit report is an auto loan, and a student loan, both of which are current, and paid on time. There are no derogatory items or inquiries. Can someone explain to me why I lost a point?

Your scores will fluctuate every month +-10 points I wouldn't worry.

Re: Gardening question

wvsongbird — Mon, 06 Apr 2015 20:28:19 GMT

Why? It doesn't make sense.

Re: Gardening question

MarineVietVet — Mon, 06 Apr 2015 21:14:33 GMT

@wvsongbird wrote:
Why? It doesn't make sense.

Hi there.

No it often doesn't make any sense but it would be more unusual if scores did not go up and down a few points each month.

I long ago accepted that fact as part of this crazy credit world.