Quote:
Originally Posted by Steve Carlton
Your extra spending shouldn't affect your FICO score unless you were billed for the higher amount, which reflects a higher percentage credit utilization. If the bill didn't show a higher than normal balance, nothing should change much. A HELOC for $2,000?
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Sorry for the confusion Steve,
I wasn’t clear on my post. The home equity line is gone and I haven’t used it since I built my garage 15 years ago, but I believe that having it on my record showed a lot of available credit and now without it, my available credit is just several credit cards, so doubling my credit card balance in December made a big difference.
I think it’s weird that a credit rating is so easily influenced by that relatively small amount of money.
For what it’s worth, I usually have an excellent rating over 800.