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After years of steadily increasing credit scores across all three bureaus, I was hit with a surprise this past week when I went to review my weekly Credit Wise report (which, I believe, is supplied by Transunion).
Notwithstanding 10+ years of on-time payments, a credit utilization of below 23%, and some rather aggressive payments toward my accounts in recent months, my trend toward the low/mid 700s was abruptly derailed with a 55 point drop.
The only adverse indicators aren’t new, and include 4 inquiries (over 8 months+ old), and a 12 year average account age. Not a single missed or late payment.
Any idea what gives?
I’ll add that I have federalized student loan debt that is in administrative forbearance under the CARES Act. On my credit report for Transunion, there is no “current” report for the relevant months for those loans (they are blank—no 30/60, or otherwise overtly derogatory notation. Moreover, I was of the impression that this forbearance would not have adverse consequences on credit.
Am I missing anything? I have used my annual free credit reports for all bureaus a few months ago. Is it worth buying one ad hoc from Experian or Equifax?
I’m...flummoxed. Any thoughts would be greatly appreciated.
Hey trying to help my boyfriend build his business and I am having a hard time with tier 1-net 30.
So far he had Uline
but Quill didnt have an option
He did newegg and cleanitsupply.
He tired to do Supplyworks but that didnt give an option.
If anyone can send updates list please with success we want at least 5 tier 1 Net 30;s.
I got some help previously about opening new accounts, but I was curious more about the impact and possible ramifications. I only have 1 credit card in my name, and it only reports on Experian and TransUnion. The rest are AU cards. I have 8 accounts on Experian and TransUnion and AAoA of about 21 years. My Equifax report is a bit thinner. I pulled CCT, and I'm at 777 EX, 782 TU, and 789 EQ. I have been thinking about about a PenFed credit card and an AMEX revolver. I also may be cosigning a small student loan. I'm not certain on this yet, but it's a possibility. I know that this will cause a score hit of some sort (drop in AA), but I'm not sure how severe. I was thinking about forgoing PenFed and just doing AMEX, but I can't make up my mind. Can anyone give me some insight? I would like to avoid permanently damaging my report in some way. I don't know if 2 cards in such a short time is too much. I appreciate any help.