Hello,
I just got preapproved for a home loan, but I just received an alert that my median equifax score went from 645 to 635. The alert itself simply stated that my Khol's credit account went from $1 balance to $0 balance. I then payed for the full report, and the only additional change from the previous alert (the one for the 645 score) was the hard inquiry from the Mortgage company (Bell Mortgage).
I'm not sure why this the $1 to $0 would hurt me, because in the previous month, the reverse happened with my Wells Fargo where it went from $0 to $1 and my score decreased then. Any advice or help would be appreciated. Should I be leaving a low balance on my Credit Cards? Do I just need to buy something on them and put the balance back down to $0? I'm desperately doing everything I can to maintain my score to get in a house as fast as possible.
Here are my open accounts:
Wells Fargo Credit Card: $0 balance , $4600 limit.
Khol's Credit Card: $0 balance, $1000 limit
BMO Harris Credit Builder CD: $90 remaining, $1000 CD account.
Citizens Bank Auto Loan: $2303 remaining, $15000 Loan.
Current Scores:
Experian: 663
Equifax: 635
Transunion: 631
Thank you in advance!
