Joined Jun 2005
Let Sleeping Dogs Lie
Forum Thread
Do you use something to track your credit score?
July 9, 2023 at
08:39 AM
Thread Details
Last Edited by komondor July 9, 2023 at 04:08 PM
I know there are a few sites that will keep track of you credit score and other financial information.
Chase and Discover both offer a service Credit Karma is the biggest I know and i have been using them for years.
I am always amazed that just putting a large purchase 5K+ on my card will cause my score to drop. Utilization is always less than 3% and I pay the card off when the statement comes in.
My score has dropped as much as 12 points for a 25K purchase and it takes about 6 months or so to slowly go back up?
Chase and Discover both offer a service Credit Karma is the biggest I know and i have been using them for years.
I am always amazed that just putting a large purchase 5K+ on my card will cause my score to drop. Utilization is always less than 3% and I pay the card off when the statement comes in.
My score has dropped as much as 12 points for a 25K purchase and it takes about 6 months or so to slowly go back up?
About the OP
5 Comments
Your comment cannot be blank.
Sign up for a Slickdeals account to remove this ad.
Chase and Discover both offer a service Credit Karma is the biggest I know and i have been using them for years.
I am always amazed that just putting a large purchase 5K+ on my card will cause my score to drop. Utilization is always less than 3% and I pay the card off when the statement comes in.
My score has dropped as much as 12 points for a 25K purchase and it takes about 6 months or so to slowly go back up?
12 points is not significant (like 1.5% if you have excellent credit) and the effect is temporary as noted.
As to paying for a service, I would not go with one of the credit card based ones but get something like Norton Lifelock or Identityforce (TransUnion) or Experian Identity Works since they do more than just monitor you credit and that is sort of their business. My 2 cents.
I currently have 3 different monitoring services due to having my identity stolen from data breaches.
My score is usually right around 830 but I just find it odd that it seems to drop for no real reason.
I can see carrying a balance or if my utilization went up over 10% but neither happens.
I currently have 3 different monitoring services due to having my identity stolen from data breaches.
My score is usually right around 830 but I just find it odd that it seems to drop for no real reason.
I can see carrying a balance or if my utilization went up over 10% but neither happens.
FWIW Some of these 3rd party infos aren't true FICO, but fako, and won't match what you get if you need to pull your credit for something big like a car or house.
Discover always says our scores are like 840 but when I saw info from our home loan app last year, the scores weren't even in the 800's. Yes I do realize there are even different FICO scores but just know the "free" information take with a huge grain of salt.