The other day we applied for a mortgage. When the gentleman ran our credit reports I found that our scores had dropped on all three bureaus. The lowest was 797. We are debt free other than our home. We only have one credit card that we use for most purchases but I pay it off several times a month.
The reason our score has dropped is lack of credit utilization. Is there any way to increase utilization without paying interest? We are about to buy a house so we can't open or close anything at this point. I don't see us trying to buy anything on credit unless we buy another down the road. I would just like to keep our scores up
The interesting thing is my wife and I have identical scores on all three bureaus.
The reason our score has dropped is lack of credit utilization. Is there any way to increase utilization without paying interest? We are about to buy a house so we can't open or close anything at this point. I don't see us trying to buy anything on credit unless we buy another down the road. I would just like to keep our scores up
The interesting thing is my wife and I have identical scores on all three bureaus.