So I checked my history and you’re right, over the last 2 years the wildest swings I’ve had have been ±20, but I also haven’t spent wildly on the cards like I used to, not exceeding 50% utilized in this timeframe.
But I think a mortage being a secured loan probably reduces impact too.
(I’m not a banker or finance person, just someone who’s watched their score rollercoaster on apps in my less responsible youth lol)
Some credit card companies will change your credit limit after you make a large purchase, so that no matter now much you pay off, you’re always just under your limit.
I’ve never heard of that happening. That sounds… Fraudulent. However, the idea is to have more than one card (you don’t need to use them), so your limit isn’t dependant on a single card, especially once that plays idiotic games.
A 50pt fluctuation is wild, like honestly you should look into why. Getting a mortgage didn’t affect my score by 50pts…
The -20 probably assumes you’re still making the loan payments.
So I checked my history and you’re right, over the last 2 years the wildest swings I’ve had have been ±20, but I also haven’t spent wildly on the cards like I used to, not exceeding 50% utilized in this timeframe.
But I think a mortage being a secured loan probably reduces impact too.
(I’m not a banker or finance person, just someone who’s watched their score rollercoaster on apps in my less responsible youth lol)
50% utilization is still enormous. Mine rarely goes above a few % pts
Some credit card companies will change your credit limit after you make a large purchase, so that no matter now much you pay off, you’re always just under your limit.
I’ve never heard of that happening. That sounds… Fraudulent. However, the idea is to have more than one card (you don’t need to use them), so your limit isn’t dependant on a single card, especially once that plays idiotic games.