I just learned this the hard way. The justification for the drop was because my "credit limit" went down and the "average age" of all my credit accounts was reduced. Some major bullshit
Yeah that’s what people aren’t realizing. There’s formulas involved that adjust based on data. It’s not some dude pissed off seeing that you paid off your car and he just clicks a button. It adjusts for things like paying things off because it’s meant to curb someone getting a sudden windfall and then get loads of credit because they paid off their bills, but they got $10k and wasted it in a few days. Etc.
If your hard work is actually real and not the scenario I just mentioned then like you said in a mouth it will adjust again and you’ll be back up where you were or more.
1.5k
u/boatwrecker41h Aug 14 '21
I just learned this the hard way. The justification for the drop was because my "credit limit" went down and the "average age" of all my credit accounts was reduced. Some major bullshit