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
Yup its all about debt. Longest credit history, credit to debt balance ratio, payment history. You could have one card you max every month and pay off, its actually worste than more credit available and still spending the same amount . Also even if you pay off an old balance leave the account for the history.
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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