Credit Plunge

[Zim]

Anyone else had their credit FICO score fall this much just from hunting application up front fees? Went all in on New Mexico this year and got this surprise package on my Capital One CC . I don’t take these FICO alerts from CC’s much seriously because I know my actual credit score can’t possibly fluctuate this much. Real credit score not much concern for me as my house, cars, bills, etc. are all paid. I’m old and don’t do loans . But I don’t get why score fluctuates so much.

 

[Deleted member 28227]

Probably did a number on your total credit utilization.

 

[npaden]

Not to that extent but mine goes down during application season as well. I still pay my credit card off monthly, however it carries a larger balance each month during this time frame. If you don't have any other debt that is probably why yours swings so much. If you actually care about your credit score you can fix it by getting a few more credit cards and just not using them. Doesn't make any sense to me, but that is how it works.

 

[Deleted member 28227]

Not to that extent but mine goes down during application season as well. I still pay my credit card off monthly, however it carries a larger balance each month during this time frame. If you don't have any other debt that is probably why yours swings so much. If you actually care about your credit score you can fix it by getting a few more credit cards and just not using them. Doesn't make any sense to me, but that is how it works.

Exactly, if you have 10k outstanding on a limit of 20k it moves it way more than if your limit is 100k.

 

[fishing4sanity]

@Zim did you write that post for me? New Mexico was the biggest culprit for me as well, but here in awhile I won't even have to pay Capital One for a month.

 

[huntandfly]

Honestly this is great news for you. Go grab a mortgage now so you don’t have to subsidize someone else’s high risk mortgage!

 

[KayakMacGyver]

Yep, almost cost me the best rate on a refi during covid. I knew my score would take a hit, but didnt anticipate the insane interest rates that would allow us to refinance during that time. It worked out, but I learned a valuable lesson.

 

[Zim]

Honestly this is great news for you. Go grab a mortgage now so you don’t have to subsidize someone else’s high risk mortgage!

Lol, No thanks at 63 I don’t need any more mortgages. Interest reamed me for years back in the 90’s double digit days. That’s enough.

I already have about 8 CC’s totaling $100k in available credit. So that angle is covered.

 

[LuketheDog]

Anyone else had their credit FICO score fall this much just from hunting application up front fees? Went all in on New Mexico this year and got this surprise package on my Capital One CC . I don’t take these FICO alerts from CC’s much seriously because I know my actual credit score can’t possibly fluctuate this much. Real credit score not much concern for me as my house, cars, bills, etc. are all paid. I’m old and don’t do loans . But I don’t get why score fluctuates so much.

Probably the best reason out there to tank your credit

 

[Zim]

Sign application season is over. Submitted Arizona deer/sheep yesterday. My season is officially over. Wyoming elk tag arrived in mail today too.

 

[JAB85]

Is this what we’re doing today

 

[Zim]

Is this what we’re doing today

What up with this? Your credit only fluctuate 4 points from applications? I can understand 4 but not 85.

 

[Gr8bawana]

Sign application season is ending.

 

[MTGunner]

Don’t pay attention to this nonsense as I owe nothing. Yep, I’m old and owe no bank, cc company or anyone other than taxes and insurance. So, let the cc companies eat cake. Not my problem. MTG

 

[JAB85]

Is this what we’re doing today View attachment 278407

What up with this? Your credit only fluctuate 4 points from applications? I can understand 4 but not 85.

Credit available vs credit used combined with length of credit, which level of card it is, how many cards you have and how often your cards report to the bureau and on and on and on but you should see an equal jump back up once your card gets reported with a 0 balance

 

[Zim]

Credit available vs credit used combined with length of credit, which level of card it is, how many cards you have and how often your cards report to the bureau and on and on and on but you should see an equal jump back up once your card gets reported with a 0 balance

Ya that’s what my Thursday post was about. Almost back to normal. Just never had such a big swing before. Not even close.

 

[Zim]

Gr8banana, Why troll someone else’s thread if you have no interest? I don’t care about 99% of other’s threads, including yours, but I don’t troll. I just don’t visit them. I save trolling for walleye.

 

[mtmiller]

Bastages got me too.

 

[Zim]

mtmiller, 12 would not alarm me at all, 85?………..not so much.

 

[Khunter]

Lol, No thanks at 63 I don’t need any more mortgages. Interest reamed me for years back in the 90’s double digit days. That’s enough.

I already have about 8 CC’s totaling $100k in available credit. So that angle is covered.

So I wonder why your score took such a hit if you have that much, I presume, mostly unused credit?