762 FICO Credit Score

Ouch! Today I got a Score Watch alert that my score had decreased by 18 points. What happened? Well, I allowed my balances to balloon by over $5000 from business expenses and didn’t pay them down soon enough. My Equifax FICO score is still good, but not nearly in the 800s as it once was.

So, what should I do? I think my CUR or credit utilization ratio is being hammered by my increased balances so I plan on paying my cards down at least 2 times this month to keep my balances lower. I talk about this practice in Lesson 6. As most of us get paid 2 times per month, it makes sense to develop the practice of paying off your credit cards twice per month. We’ll see next month if my Score improves.

Look we all have lapses. This is a lesson that we need to keep on it — and really manage our credit — to keep a great score.

790 FICO Credit Score

Just pulled my Trans Union Score Report. Got a nice 12 point boost to 790.