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The greatest impact on credit "history" is age of credit, followed by utilization. We have been hovering at around 850 for years, and after paying off a car loan, and a HELOC in the same month went down 15 points. Average age of credit decreased, and utilization as % available went down significantly. The credit scoring is for the lending industry, not consumer. Your score goes up when you use credit, responsibly.
We learned this early, and in HS put our daughters on our Credit cards, did student loans that we paid off with zero interest, car loans and leases that we paid off early, etc... As a result, both mid-20 year old kids have 805+ credit scores and have had zero issues getting leases etc...
Credit scores no longer go down if a company does a soft inquiry if you are considering a loan. Usually goes down a little if you add a credit card, installment loan, or new loan - but that is due to average age of credit dropping, and % utilization. Usually if payments are made, the score recovers quickly.
The rest is voodoo.
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Chris
1988 911 Carrera Targa (driving project started JAN 2022)
1970 911E - Long since gone
1972 911 Targa - gone
1987 911 Carrera - gone
Retired FA-18C Driver
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