I've just checked my credit score through CreditKarma and apparently my score went down 9 points!
The only thing that changed was I started carrying a balance on a credit card (at 20% of total credit now), because the card has 0% APR on balances for a year, and I can use money I would otherwise be using to keep the balance at 0 on things which have interest rates, e.g. student loans.
I haven't gotten any new lines of credit, and I've made all my payments on open lines of credit on time.
Does this sound correct?
Tue Jun 07, 2016 8:58 am
Cash: $ 380.25
Joined: 09 Feb 2009
30% of your score is based on your balance to limit % and 20% is a lot IMO. If you pay off your balance every month your score will go up.
Risk comes from not knowing what you're doing. (Warren Buffet)