My Credit Journey: My score dropped 14 points and went up 52 points

My Credit Journey: My score dropped 14 points and went up 52 points

My credit score dropped 14 points and went up 52 points and this all happened within a week.  I have become a little obsessed with checking my credit score. I have the Credit Karma app on my phone and it’s so easy to just put in my code and check out my credit profile.

Well, one day I checked my credit and noticed it dropped 14 points. I was devastated because I have been working so hard to rebuild my credit. What dropped my score was newly reported student loans which raised my overall debt. I’m currently a student and my loans are not in default and are in good standing so I wasn’t worried about the loans. But it surely put a dent in my credit score and there was nothing I could do about it. I didn’t have thousands of dollars laying around to pay off my student loans so I had to take the hit even though I wasn’t happy about it.

I didn’t check my credit profile for days because I was so disappointed. About four days later, I decide to check my credit score and I was shocked to see my score in the 500’s after being in the 400’s for so long. My score had went up 52 points after a charged off debt was taken off my report and it lowered my debt by 400 dollars. I have learned not to become obsessed with my score and just focus on the rebuilding of my credit. I know in the end all of this will pay off.

I am still in the process of disputing things on my credit report so no new updates on the disputes. My credit card has arrived and I will be using this card responsibly and making sure not to use more than 20% of my available credit. This journey of rebuilding my credit is not easy, comes with a whirlwind of emotions but I know it will be worth it in the end. I no longer want my low credit to control my life so I know this is a journey I must take.

 

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