Recently took out an auto loan and wanted to see how my credit scores were affected. So pulled TU report on March 1st and 5th.
On 3-1 TU score was 775 with 1 neg (high non-mortgage usage) and 4 pos (no missed, low credit usage at 1% revolving, established history, and long account history). Auto loan 2-8 inquiry was on report, but 2-14 loan had not yet posted.
On 3-5 TU score was 794 (yippee) and only changes were that installment loan for new auto now posted and I paid down a CC with 15K bal to 10K (CL is $40K but it does not show in my revolving util calc). So now report shows 1 neg (high usage of revolving credit even though it calculates 0% usage) and 4 pos (no missed, long acct, long revolving history, and not seeking credit).
How can one place any reliability on the pos/neg reasons given for one's score? And if the reasons don't make sense, what does that say about rest of algorithm. So I pay down a revolving acct and add an installment count and my negs between two reports goes from high non-mortgage usage to high revolving while increasing my score by nearly 20 points.
Things that make you go mmmmm...
