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Credit score dropped for seemingly no reason (lemmy.world)

submitted 8 months ago by Pat12@lemmy.world to c/personalfinance@lemmy.ml

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I moved countries a few years ago and am building up my credit score from scratch. I'm cognizant of good practices to build up my credit score like paying my credit card on time. My credit score dropped 10 points in the last month but I don't know why. I've increased my spending on my card because of Christmas and travelling but make the payments right away (typically same day) so that there is not a large balance on my card at the end of the month. The total spending for the month is less than 30% of my credit card limit.

I don't have any other form of credit like loans. Any suggestions why there was a drop?

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[–] thrawn@lemmy.world 4 points 8 months ago

I wouldn’t worry too much about credit btw, if this is utilization based which seems likely because you have nothing else, it won’t affect you for more than the cycle it’s based on. Unlike other things, utilization has no memory. Also common advice is it’s only worth worrying about credit in the months before you need it.

I’ve commented here like three times cause every time I open Lemmy again I relive this thread haha. Worry not for I am to sleep soon