About credit reports Chicago

For the last 15 months, weve lived free of credit cards, other revolving credit, and traditional installment loans. While this has had an overwhelming positive affect on our financial life, it was supposed to have a dramatically negative affect on our credit scores.

After all, the following graphic is from myFICOs Whats in your FICO Score?: According to the graph and the information on the site, we have several strikes against us: To be fair, we did have several factors working for us: Could my credit score be even higher? Its very possible that even though my credit score hasnt tanked, it could be much higher. free credit report all 3 Had I not canceled my credit cards, maybe my score would be 750+ or 760+! Theres no way to know for sure, but canceling my credit cards may have caused my score to stagnate. Another possibility is that FICOs algorithm may still need more time before it begins to about credit reports Chicago punish my negative behavior. I find this theory less likely, as its been well over a year. identity theft protection Over time, maybe about credit reports Chicago the score will slip more dramatically. On that note, if we keep up our current pace, well eventually cease to have a credit score at all! It can be argued whether this is good or bad, however youll be hard pressed to convince me that executing our current plan for another 5 years will put us in a bad position financially.

So what does this all mean for you? Its important not to draw any sweeping conclusions from a single example. credit reports 3 I fully expected my credit score to drop more than a about credit reports Chicago mere 5-10 points, based on the about credit reports Chicago information Ive been reading for the past two years.