My credit score has random and wild ups and downs every now and then. I don't understand why. This month it decreased by 30 points, no idea why. Nothing has changed in my financial profile. I have the same credit cards that I keep paying off regularly and so the usage is usually 0-3%. I have a loan that I pay off with the required amount each month well in time. Does anyone here have any suggestions about this? I did get a mint notification saying that it looked to them that I closed one of my credit card accounts, which I have not. Does this have something to do with the score?
Intuit is rather unsavory when it come to consumer and tax returns, it doesn't seem that far fetched for them to also apply UX Dark patterns. It could be they have the app randomly to increase /decrease these guess scores to increase user engagement?
The credit score dip is from experian and Bofa score trackers.
Mine has been doing the same thing the past 3 months. No new hard inquiries, no new accounts reported. Balance ratio hasnt changed at all. Still paying off my credit cards every month on time 🤷♂️
This is probably due to utilization ratio, which accounts for ~1/4 of your score. Let's say you have a card with a 10k limit and you have autopay setup to pay the full balance. One month you might spend 1k so your utilization for that card is 10% - not bad. Then maybe next month you spend 8k, so your utilization is 80% and this it looks like you are living beyond your means and your score tanks 30-50. This is perfectly normal and expected and has a simple solution - make payments before your statement cycle prints.
My utilization is generally 0-3%. It hasn't exceeded 10% in a long time. I keep paying it regularly, and often have negative balances
In fact, this month my score dipped 30 points, and the statement balances were nil
Ask Blinders
13h
527
Why no one cares about the lives lost in Gaza, Israel and busy in their own lives?
Tech Industry
Yesterday
5349
BREAKING: Internal sources confirm another round of layoffs just hit emails at Tesla. For real.
Tech Industry
4d
44942
What happens when most of your team is Indian?
Tech Industry
Yesterday
826
Google unanimous strong hire
India
7h
652
Rahul Gandhi is poison but the people who believe in him are a lot worse
This is quite possibly identity theft. Have you checked your report to make sure every account on there is yours?
Yep checked, nothing fishy. There is an extra address which is basically a typo of my current one, but that makes it technically different. Will this affect the score?