#how to check my credit score
Credit and Personal Finance Blog
May 16th, 2008
How Often Does Your Credit Score Change?
We get asked this question quite often: How often does your credit score change? Technically, it can change any time your credit report changes. Any of the following can trigger a credit score change:
- Missing a Payment
- Applying for a New Loan or Credit Card
- Changing Your Available Credit
- Defaulting on a Loan or Charging Off
- The List Goes On
But some people have asked why their score has not changed in months. Well, my score hasn t changed since we launched the service in Feb, 2008 until just this week. As background:
* I have a mortgage
* I don t carry any balance on my credit cards
* I ve had a good payment history for over 15 years
* I don t apply for credit often
A few days ago, I decided to apply for one of the Gas credit cards I wrote about. I then updated my credit score the next day. My score dropped 6 points from the inquiry. I m sure it will change again when the credit card provider reports my credit line and utilization to the bureaus. I suspect it will jump back up since I won t carry a balance and it will increase my total available credit.
I m writing this to let users know that your score shouldn t be constantly changing if you are stable with your finances and credit. I ve had the same score for over 3 months, so don t be concerned if your score isn t jumping around. Part of the service is built to instill a sense of comfort and familiarity with your score.
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