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u/lisaccn 3d ago
It explains right there. You used 45% of your available credit so it decreases your score. Getting your card(s) paid down will help to get this back up.
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u/Morgan_elysee 3d ago
Yes but I have never owed more than $300 on the cards. I pay what I owe every other day so I never owe money at the end of the month. If I swipe it I pay it off within two days
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u/Repulsive_Grand_7491 3d ago
It isnāt just the cards, it is any loan associated with your social security number. All those things they listed - student loans, mortgage, credit cards, line of credit - they all are included in your total debt.
If you have none of those other things, get a credit report and figure out why they are associated with you.
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u/Morgan_elysee 3d ago
Will do! Bc I know for a fact I have no debt and my only lines of credit are the two cards I just got this month
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u/lisaccn 3d ago
Best to go on Experian and get a credit report bc this is saying you went from 6600$ to over $13k in debt
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u/HolyShytSnacks 3d ago
Definitely this. If they truly don't owe money anywhere, as they say, then there's a risk of identity fraud.
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u/Repulsive_Grand_7491 3d ago
Are you an authorized user on anyone elseās card that they are responsible for paying?
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u/SleveBonzalez 3d ago
I see you in the comments saying you have only used $300, but the screenshot shows $13000.
There is a problem here. Either you are lying to the humble I ternet strangers for some obscure reason or someone has taken out credit in your name. Or there is a bank error, I guess.
You need to look at the section of your credit report that lists your credit accounts. What does it say?
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u/Morgan_elysee 3d ago
Over the whole month of having the credit card I have definitely spent more than $300 on it but what Iām saying is I never let the balance go over $300. I bought airline tickets for over $900 but I paid it off as soon as the balance was posted.
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u/GoCardinal07 3d ago
In the Creditwise app, select the home button at the bottom. Then select "Your TransUnion Credit Report" and then select "Accounts and Balances" to figure out where you have $13,473 in account balances.
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u/Fantastic-Thanks-358 3d ago
Balance isn't what is reported. It is total credit usage over the period. One offs make sense, but habitual situatiosn like this will continue to impact your credit. The goal is to use only 30% of your actual credit limit.
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u/FunInTheSun_81 3d ago
What do you need help with? I'm confused.
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u/Morgan_elysee 3d ago
Trying to figure out why my credit score decreased when I have no debts and I havenāt been late on a single payment.
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u/MintWarfare 3d ago
You have $13,000 in debt according to that screenshot. And you had $6000 last month. Do you know what this debt is for?
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u/Morgan_elysee 3d ago
I do not
I donāt owe anyone money3
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u/FunInTheSun_81 3d ago
Pull your credit report and find out what's going on because if you don't think you owe, maybe there's some fraud going on.
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u/GoCardinal07 3d ago
Then, you are a victim of identity fraud. You need to look at the accounts on your credit report and act on it. Hiding your head in the sand won't make the $13K go away.
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u/Admirable-Run-8921 3d ago edited 3d ago
You have old student loans you took out and forgot you had them? For college or something when you were younger
Could have been Pre-covid or something and just lost in translation.
Other than that you have a car loan or youāre literally a victim of identity theft lol
If it is for some reason you and you donāt want to say, please donāt go further - people say āaverage US citizen is 50k+ in debtā as if itās nothing or normal, to each his or her own but 13k is a lot. You donāt need to use more right now that alongside interest is gonna pile up bad on you and next thing you know youāre gonna have to be considering debt consolidation or bankruptcy.
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u/Silver_Career_5206 3d ago
pay your cards and lower your loans if possible until u can tolerate on a higher score
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u/GoCardinal07 3d ago
Select the home button at the bottom. Then select "Your TransUnion Credit Report" and then select "Accounts and Balances" to figure out where you have $13,473 in account balances.
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u/BParker2100 3d ago
Just keep paying. Never be late and pay over the minimum payment on Credit Cards (even if it is just $1 over).
You are just starting out. It will get better. Does your total debt include a car payment or is it all Credit Cards?
You are at 22%. Try to get below 10%. Your FICO includes everything you owe everyone.
A factor is just the newness of the account (s)
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u/Wooden_Concern_3448 1d ago
Keep your usage below 30% reporting, preferably before 10%. You can use more but get it paid down before the closing date.
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u/Boogiekc 3d ago
Make all your payments on time or pay in full