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i have not been using my credit card lately. i use my debit card for purchase since aug. 09. i have no debt since i paid my car loan dec. 08. is that the reason? thanks.
yes. my chase credit card. they just cancelled it without asking me first. i am not complaining though since their high interest rate is a joke. well i hope that is one of the reasons. what else might cause the drop?
yes. my chase credit card. they just cancelled it without asking me first. i am not complaining though since their high interest rate is a joke. well i hope that is one of the reasons. what else might cause the drop?
Did you actually look at your credit report? What else is in there? Maybe something has been reported that doesn't belong to you.
ya i checked my equifax report last month. it seems normal, the reports are all mine nothing suspicious. i actually just tried experian and transunion today both were saying i already access my report with them. as far as i know, this year, i didn't. last year,i checked all 3 of them at the same time.. well actually last year i cant seem to access my transunion report. anyway if i can access my equifax report this year. why cant i do the same at the other 2?
Two things that hurt your score that people don't think about is canceling unused credit cards and having too many inquiries made about your credit.I have never understood why credit inquiries hurt your score,but they do.Shopping around for a new car and letting each dealer run your credit actually lowers your credit rating just for all of them looking at it.Canceling credit cards that have zero balances after finally getting them paid off lowers your amount owed to available credit ratio,and so harms you credit also.
ya i checked my equifax report last month. it seems normal, the reports are all mine nothing suspicious. i actually just tried experian and transunion today both were saying i already access my report with them. as far as i know, this year, i didn't. last year,i checked all 3 of them at the same time.. well actually last year i cant seem to access my transunion report. anyway if i can access my equifax report this year. why cant i do the same at the other 2?
Could it be you do not have enough stuff in your credit file. Having a thin file also causes you to have a low score.
well i actually prefer to pay cash as much as possible, i am not a fan of credit cards and if i use mine it is ALWAYS paid in full no matter how large the amount is. the only reason why i had a credit line is coz of my new car loan. prior to that, i had none. so if thin file you mean my credit score is only based on credit cards and car loan then ya i have a thin file. i never had a mortgage.
i never cancel any cards recently myself just that involuntary chase card. but 40 pts? just for that? now you make me nervous with the too many inquiries in my credit. i see no reason. i am not applying for loan of any kind. i am nervous coz i lost important docs in the mail containing my social number, drivers license number, my car's VIN and my banks statement with my bank account number. actually that account is still open and there is no unusual activity on that account so far. but i do plan to close it soon. chase is a sorry excuse for a bank.
Could it be you do not have enough stuff in your credit file. Having a thin file also causes you to have a low score.
It has to be pretty thin for that to be a problem. I only have 4-5 items on my credit report and my score is in the upper 700s.
I'm not sure why you wouldn't be able to pull your reports on 2 of the 3 if you got them all at the same time last year. I got an email from one of them telling me that it had been a year and I was eligible again, don't remember which it was though. Are you sure you didn't get a notice months ago and go pull one or two of them back then? When you try to pull them, do they say when you will be eligible to pull them again?
Also, I know you can look at your old reports for a period of time (might only be 30 days), are yours still available to view? You could look at the dates on them that way if they are.
Edit*
Rereading your post, you said
Quote:
last year,i checked all 3 of them at the same time.. well actually last year i cant seem to access my transunion report
Did you actually pull them at the same time, or just all last year? Because it isn't once per calendar year, its once every 12 months. So if you pulled them in December '09, you can't pull them again until December '10.
i have not been using my credit card lately. i use my debit card for purchase since aug. 09. i have no debt since i paid my car loan dec. 08. is that the reason? thanks.
Like it or not you are considered a "dead beat" to the CC companies since you are debt free. CC companies don't like people who they don't make money from.
This is one of the reason I despise the FICO system since it rewards the debtor and punishes the debt free person. FICO also strips a person of their identity and who they are by reducing everyone to an arbitrary number that means nothing about you at all.
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