Hi, it's actually a good thing in a way. It's called bucketing and it just means you've moved into a different (higher level) group. Big fish in a small pond to small fish in a big pond, you are now being compared to other bigger fish and being new and smaller compared to the rest of the fish in this group your score took a little hit. Now that you are in the bigger pond, you've got more room to grow and your score will bounce back. Keep doing the right things and you'll soon be a big healthy fish in your new pond.
@nycfico wrote:
I am attacking my reports and scores like crazy. I was up from the high 400's across the board two years ago to 614 on equifax. Then today out of nowhere I get a 15 point reduction for no apparent reason. The 'suggested' reason on the alert read:
- You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.
Huh? First of all, I've had credit for 20 years, so this is not accurate. What category and why would moving from one category to another happen and why would my score drop if I did nothing wrong?
