Credit Score Question

[andy04]

My credit score has been going up and down like anything, around 40 points in the last 6 or 7 months. Around Aug last year it was about 690 then jumped to 730 in 2 months. Then came down to 680 around Nov then jumped to 720 in Feb, then came down to 680 again now. I charged around 3Gs around July 06 and another 3Gs around Sept for Furniture. In Jan 07 I paid off a Car Loan... Besides that I didnt do anything big besides that... Any idea why its happening or is it normal...

Its Happening to both me and my Wife

Its happening to the score from all 3 agencies

 

[DaWhim]

what is the line of credit for the card you put 3k on? if the LOC is low, that mean your utilization is high. thus, your credit score drop.

 

[Riverhound777]

Mine does this as well. I attribute it to fluctuations in my debt/possible debt ratio. I.E. I charge $600/6300 one month and pay it off. Then $1200/6300 the next and pay it off. Even though I pay it off, it still effects my credit score.

 

[andy04]

So that might be it then, There a CC with 5K limit and I use it for everything even rent and hence charge around 2K each month then pay it off. I guess thats whats doing it

 

[kranky]

That's definitely the cause.

 

[joecool]

why the heck are you watching your credit rating on a monthly basis? that seems a little obsessive to me ...

 

[andy04]

well... I get i for free with my WaMu CC !!

 

[DrVos]

He could be looking to get a loan. A difference of 40pts (680-720) could mean a rate that is a couple of tenths of a percent better or worse. This is exactly what I've been doing.