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:
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Payment history updates
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Time since last late payment, collection account, or public record items
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Increases or decreases in credit card balances
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Increase the length of time since accounts were opened
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Adding or removing inquiries
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A mix of different types of accounts
For more information about credit repair, visit www.scoreceo.com/blog.
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