What factors impact an individuals Credit Score and why does an individuals credit score fluctuate?
The primary factors that affect your credit score include payment history, the amount of debt you owe, how long you’ve been using credit, new or recent credit, and types of credit used. The various credit scoring agencies use different formulas.
Some things don’t change much — such as length of credit history based on your longest-held card.
But when you pay down outstanding balances — or charge up your credit cards — it can definitely impact your score from month to month.
I suggest you sign up at CreditKarma.com to track your score. They explain changes as they occur, and often give you good ideas for improving your score.