I have been working on repairing my credit score since some poor decisions in my past. I paid off a bad debt in 2010, and have been good since. My credit score had been climbing since, but took a big hit recently and I cannot figure out why. The notes that come with the credit report do not make sense and I'm trying to make the best decisions to maintain decent credit. I had a good amount of savings, and took off of work for 6 months to go back to school. I immediately got a new job after graduating, and have continued to pay down debt aquired. My credit card debt grew during that time but I continued to make payments on everything, and my credit/debt ration never got about 50% in that time. It took a 45 point drop in the course of 4 months that I just don't understand. Are there any tips out there that aren't well known that might help me out?
Congratulations on your hard work, that is pretty impressive. It sounds like you have taken all the correct steps to improve your score. I am not an expert on credit scores, but I too have been working on improving my score and have found the information here to be helpful when looking at what the credit agencies take into consideration.
Also, you can give us a call here 1-800-531-USAA (8722) to discuss your credit score with the Financial Improvement Team. They can be reached at extension 2-4483. Our Financial Improvement Team concentrates on member assistance related to: debt management, budgeting and building/maintaining credit.
Best of luck to you!