(Shared by Brad Bapst, Director, Small Business Development Center, OSU South Centers)
The Simple Dollar www.simpledollar.com
Strange Reasons Your Credit Score Could Change
by John Ulzheimer
Updated on 07-17-17
Credit scores aren’t static. They don’t rise and fall like temperature. No, credit scores are simply a snapshot evaluation of your credit report information at a given point in time. But when the information on your credit reports changes, your scores will generally be different the next time they’re calculated.
Certain credit events may lead to a predictable difference in your credit scores. For example, if your credit report shows a new missed or late payment, a new collection account, or a new tax lien filed against you, you can presume that your credit scores will be impacted. But it’s not always this clear cut. Sometimes your credit score changes for less than obvious reasons.