FICO Scores: How often do they change?
A FICO score is based on the information that appears in a credit report. According to myFICO, lenders typically report updated information to the credit bureaus every month. This update may result in a change in a FICO score.
In any given three-month time period, only about one in four people have a 20-point change in their score, myFICO says. A score can also change over time because of payment history.
myFICO explains that a FICO score can change due to the following types of credit information changes:
Payment history updates
Time since last late payment, collection account, or public record items
Increases or decreases in credit card balances
Increase the length of time since accounts were opened
Adding or removing inquiries
A mix of different types of accounts
For more information about credit repair, visit www.scoreceo.com/blog.
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