My score went down recently. What could have caused this change?

Here are some common reasons that may cause your credit score to go down:

• Missed or late payments - Payment history has a major impact on your score. Even one missed payment can result in a score drop.
• Higher credit utilization - If your balance relative to your credit limits has increased, this can lower your score. Try to keep utilization below 30%.
• New hard inquiries - Applying for several new credit accounts in a short period can lower your score temporarily.
• Opening a new account - Getting a new credit card or loan may cause a small drop at first. The effect is usually temporary.
• Error on your credit report - Inaccurate negative information being reported could bring your score down.

To understand the factors impacting your score specifically, check your credit report details in the app. Monitoring regularly makes it easy to spot trends.