Online free credit report Gainesville

The following month, online free credit report Gainesville we decided to take it a step further and online free credit report Gainesville close our final remaining credit card. For the last 15 months, weve lived free of credit cards, other revolving credit, and traditional installment loans. While this has had online free credit report Gainesville an overwhelming positive affect on our financial life, it was supposed to have a dramatically negative affect on our credit scores. After all, the following graphic is from myFICOs Whats in your FICO Score?: According to the graph and the information on the site, we have several strikes against us: To be fair, we did have several factors working for us: Could my credit score be even higher? Its very possible that even though my credit score hasnt tanked, it could be much higher.

Had I not canceled my credit cards, maybe my score would be 750+ or 760+! the real free credit report Theres no way to know for sure, but canceling my credit cards may have caused my score to stagnate. Another possibility is that FICOs algorithm may still need more time before it begins to punish my negative behavior. I find this theory less likely, as its been well over a year.

Over time, maybe the score will slip more dramatically.

On that note, if we keep up our current pace, well eventually cease to have a credit score at online free credit report Gainesville all! It can be argued whether this is good or bad, however youll be hard pressed to online free credit report Gainesville convince me that executing our current plan for another 5 years will put us online free credit report Gainesville in a bad position financially. how to get free credit reports online

So what does this all mean for you? Its important not to draw any sweeping conclusions from a single example. I fully expected my credit score to drop more than a mere 5-10 points, based on the information Ive been reading for the past two years. It would be irresponsible to assume canceling your own credit cards would yield a decrease or an increase in your score based on my results. At the same time, my sample case study has caused me to reevaluate just how much we know about the algorithm used for calculating your credit score.

All we have are graphs and lists of potentials factors that online free credit report Gainesville may be taken into online free credit report Gainesville consideration. The only universal lesson that can be extracted from this is to ensure online free credit report Gainesville that an estimated change in your credit score isnt the primary influence on your major financial decisions. order a free credit report Of course, you should have any and all information you can. Im not suggesting we should all ignore the information that is available about the make-up of credit scores. Just be wary of letting it dictate any major financial decisions on its own. A week ago, I online free credit report Gainesville considered myself fairly savvy on the topic of credit scores.