Sunday, December 30, 2012

Credit Score Blues

I checked my credit score today, something I hadn't done since September (spurred on by the NY Times story about dating and credit scores). So annoying!! Because my mortgage took 4 months to get and I applied with several lenders, I have like 3-6 inquiries on my report, which brought down my score a lot. I also (god forbid), opened up a Best Buy credit card and a new Mastercard in May after I moved. The credit scoring algorithm is dumb - too dumb to know that all those inquiries on my report are related to my mortgage. Whatever, I know my score will "recover" at some point, and it's not like it's low -- about 720-750 depending on the bureau. It is ridiculous though that someone who has never missed a payment and pays off their credit card every month has anything other than a perfect score!

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