I have noticed that my fico score goes up and down significantly with zero change on my end. What do I mean by zero change? Zero change in spending Zero cards opened or closed Zero loans Zero late payments ever Credit utilization, never above 5% ever No identity theft No huge errors on credit report Spending habits with credit card as follows. Monthly bills put on credit card each month and paid in full once the amount has posted to the billing statement thus avoiding interest but keeping an active credit history at low utilization to no utilization. So no change in financial standing at all, but still score drops. Does this happen to anyone else?
As the other response said, probably card utilization. That said, how are you monitoring score but getting no useful info? Go sign up for credit karma or something and find out for yourself.
Monitoring the general fico score with a feature through my bank. They unfortunately don’t give any insight past the number itself and a history of the number. As for the credit karma thing that could work but I have always been extremely skeptical of those companies due to some very bad experiences. In general I was asking here to see if others have seen similar things as it strikes me as quite weird. Not looking for someone to magically know what happened to me in particular, but thanks for the input
Yeah. I use credit karma. My score jumps around, and it’s typically just credit balance changes. Just monthly spend differences, since I pay off every month. And there is a feature there that directly highlights the score change and exactly what changed on your report to drive that. I’ve been using them for years. They seem fine.
My score fluctuates as much as 25 points month to month with no change in spending and 25+ years of credit history.
That is wild.
Probably card utilization. Different $ used will cause minors diffs, perhaps place it into different buckets to cause larger than expected changed.
Could you provide an example? I’m having a hard time following your meaning here. What I think you are saying is there should be spending done on multiple cards instead of just the one. Is that correct? If so, that’s a fine idea but I only keep a single credit card and have never had more than that one for my entire credit history.