Separating myth from fact is what I find myself explaining every day with clients. There are soo many opinions when it comes to your credit scores it’s no wonder people get confused.
So to clear the air, I’d like to share the facts about credit score changes. Your credit scores are based upon bits of data on your credit report. It considers age of accounts, payment history, credit card utilization percentages, number of hard inquiries, and mixture of credit.
If a credit card balance updates to the credit bureau, if a late payment is recorded, if a new inquiry is registered, etc, etc the scores will change. So it’s not every 30 days your scores change, it is each time you (or a bank) requests your credit report and the data is run through the scoring software that calculates your scores.
If you have specific questions about your credit scores and how to raise them, feel free to contact me direct.
President and Certified Credit Expert