Wealthy Living

8 Reasons Your Credit Score Dropped and How to Increase It Story

Did your credit scores drop for no apparent reason? Use these wise tips to boost your scores quickly, so an unexpected credit score dip doesn’t hurt your finances.

In this post, I’ll explain why scores fluctuate and when you should be worried about a drop, and tips to boost your scores quickly so that an unexpected credit score dip won’t hurt your finances.

What Affects Your Credit Score?

One of the biggest misconceptions about credit is that you only have one credit score, such as FICO.

While FICO is a popular type of score, hundreds of different credit scoring models are used by mortgage lenders, credit card issuers, insurers, and merchants.

8 Reasons Your Credit Score Dropped Suddenly

1.  You’ve become the victim of identity theft.

2. You have an error in your credit reports.

3. You unintentionally missed a payment due date.

4. Your credit utilization increased.

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