How And Why Your Credit Score Will Change

By Mike Wayman

How often does our credit score change? What causes a change in our score? Any time our credit report changes, our score can change. What would cause a change? There are several reasons.
You may have missed a payment, or made a payment late. You may be applying for a credit card or a new loan. You might be changing the amount of available credit that you have with a particular company. Perhaps you have defaulted on a loan, or filed for bankruptcy.

Some will find when they apply for a gas credit card, for example, your credit may go down if you update your score. Once the creditor reports to the credit card bureaus of your activity of paying on time, and not keeping a balance, your score should go right back up. After all, your total overall credit has gone up.

If you have stable finances, your score should not be constantly changing. In fact, your credit score may stay the same for many months. If you resolve any debts, or clean up any mistakes in your credit files with the credit bureaus, this will also affect your credit score. Keep an eye on your credit score by checking at least once a year. If it doesn’t change you can be secure and comfortable with your score.