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My new Master card had a balance increase from $37 to $142. My credit score went down 1 point because of this. This doesn't make any sense because the beginning balance is always small and gets bigger as you buy more stuff. Also I pay in full. If this is how they do this, then my credit score will go down 1 point for every billing period.
My new Master card had a balance increase from $37 to $142. My credit score went down 1 point because of this. This doesn't make any sense because the beginning balance is always small and gets bigger as you buy more stuff. Also I pay in full. If this is how they do this, then my credit score will go down 1 point for every billing period.
What you buy and where you shop may affect your credit score. There is a new activity, so there are also new risks. Especially when you get a new credit card. Every new purchase cause that. If you pay your balance every time in full, your credit score will go up again. I wouldn't fuss about one point difference.
ONE POINT!! What in OCD is going on? In all seriousness, there are factors that influence your credit score that are well known (ex. on time payments, debt ratio, age of accounts). It'll be next to impossible to figure out the reason for your one point drop. I have a high credit score and check it at least monthly. It's common for it to fluctuate around 50 points. As long as you don't notice any unusual activity or a huge drop in your score I wouldn't worry about it.
The points will go up and down each month and you will think you have done nothing. Don't worry about small changes.
Your points might be changing due to credit utilization. If you are using 5% of your credit line and go to 5.1% your score could go down but no one will care. The score would also go up if your utilization goes to 4.9%
Thus ask for an increase to your credit line and your score will probably go up.
Mine dropped almost 50 points with a new credit card and one of my first charges was a $3,500 car repair. I paid the entire balance by the due date and my score only went back up about 35 points. Overall a loss.
Your credit score can go up or down 1 point because it's Tuesday.
Try to remain calm.
Last edited by Chaofan; 08-16-2019 at 05:25 PM..
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