I had to activate Experian as I needed to thaw my credit for a check.
I kept ignoring the usual emails/marketing from them, till I noticed "your credit score has dropped".
I checked the account and my FICO score dropped 29 points! (from 815 to 786). On further investigation, it is because my only 2 credit cards had a large balance each (always paid off at statement due date) last cycle due to several large purchases and travel items.
What is the usual time frame for recovery?
Anything I could do proactively and does it even matter?
I have never tried to increase the credit limit on the 2 cards and this is the first time both cards have simultaneously had large balances (about 20% of the credit limit only).
I kept ignoring the usual emails/marketing from them, till I noticed "your credit score has dropped".
I checked the account and my FICO score dropped 29 points! (from 815 to 786). On further investigation, it is because my only 2 credit cards had a large balance each (always paid off at statement due date) last cycle due to several large purchases and travel items.
What is the usual time frame for recovery?
Anything I could do proactively and does it even matter?
I have never tried to increase the credit limit on the 2 cards and this is the first time both cards have simultaneously had large balances (about 20% of the credit limit only).
Statistics: Posted by tenkuky — Sat Oct 05, 2024 5:12 pm — Replies 2 — Views 270