Pull your FICO scores/reports and see if something else is going on. Otherwise, not much we can do to answer your questions.
I'm about to be a Sophomore in college, and I got my first credit card about 11 months ago. I have two accounts with Citi (limits totaling up to $6000) and a history of 11 months. I just called Citi earlier today to request a lower interest rate, which I was approved for after being placed on hold several times. What disturbed me, however, was that the Manager I spoke with told me that I could not get a lower APR than the one they gave me all because of the fact that my credit score had been constantly falling - 20 points in the last month! I keep my utilization very low (less than 10%) and there are no negatives on my report. It seems like no matter what I do, even if I keep paying in full, on time, every month, while maintaining a low balance and utilization, it just doesn't seem to be working for me. It's as if my FICO keeps dropping with no good reason. Should I worry about this? It bugs me that I don't know why my FICO score is dropping. I am even considering purchasing my credit scores to see for myself how low they have gotten...
Sometimes CCCs look at a different type of FICO scores and they are called credit card enhanced FICO scores and this may differ from your myfico scores. I suspect with your short CC history, your CC enhanced scores might be lower. Don't worry your scores will improve with time. Besides your scores are quite good for a young person. Nothing to sneeze at here. You paid a little bit money and you should feel relieved.
andyaycw wrote:Thanks for the message fused.Now that I have pulled all three of my scores, I am left wondering if the Account Manager I spoke with was lying and simply trying to make an excuse to deny my request for a lower interest rate.TU: 708EQ: 726EX: 715All of those scores are higher than when I checked 2-3 months ago...unless my scores were really 20 points higher last month, I don't see what could have made them drop...All my reports have similar negatives listed - my student loan of $2600 is hurting my score, I have a short credit history of only 11 months, and apparently I have too many accounts with balances (two accounts.)Very strange, what do you guys think?