Why has my credit score gone down?

I%26#039;ve made a years worth of car payments - on-time, never late.

And I opened up one credit card which is revolving and current. There are no derogatory items on my report, and I%26#039;m current on my school loans.

Why did my score go down 30 points?

Isn%26#039;t it the credit reporting agencies responsiblity when it comes to monitoring these things?

Why has my credit score gone down?

The very fact that you applied for and received a credit card would be enough to bring it down 30 points. I would suggest not sweating such a small anomaly and keep watching as it will start to climb again

Why has my credit score gone down?

Perhaps it%26#039;s an error. Contact the reporting agency.

Why has my credit score gone down?

Credit scores are affected by a number of things. On time payment isn%26#039;t sufficient, by itself, to improve your score. Oddly, you may not have enough credit or too much!

Some things to consider are 1) What is the total limit on all of the cards you own? 2) What is your ratio of available credit to used credit? 3) How long you have had credit. A card, or loan with a history of one year will not have the same weight as three years of payment on a loan, etc. 4) Have you been shopping for a loan, etc.? The number of inquiries affect your score also. There%26#039;s a whole lot more, but this should give you an idea of the complexity involved in calculating your score.

Here%26#039;s a link to Experian%26#039;s site , which discusses scoring; http://www.experian.com/consumer/credit_...

Why has my credit score gone down?

I don%26#039;t know what my credit score is, but when i tried applying for a loan a few weeks ago i was told i have a bad credit rating. I don%26#039;t understand why, but was told that everytime your refused a loan your rating goes to bad, also if your a tenant or living with parents you have a poor credit rating. So, they%26#039;re some things to consider. Best thing to do is to ask the bank/credit agency your using to look at your individual circumstances rather than looking at your credit report :)