Credit score
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Hi Edward Popish. These are excellent questions!
It is entirely possible for your score to have a massive jump. Generally, this occurs when your credit utilization takes a massive drop by paying off your cards coupled with using less credit. If that is the case, while the increase could last, your score will probably drop as you use more credit, then could rise when you pay your bills.
Credit utilization makes up 35% of your credit score. The more credit you have, and the less of it you use, the lower your credit utilization ratio. The lower the ratio, the higher the score. Your utilization ratio drops when you have more access to credit by either getting more, using less, and/or paying off what you have used. If you have charged less in the past month, and have recently paid downs bills, your utilization has probably lowered.
You mentioned that you have been applying for cards, and we can tell that you are well aware that causes credit inquiries on your report. It is possible that one or more of those dropped off, which would also help your score.
As for card recommendations, we base those off of your credit report card as compared to those of other Credit Sesame members in a similar situation who have recently been approved. However, we have no way of knowing what any lender is specifically looking for at any time. In the last few months, lenders have tightened their lending criteria multiple times. This has made it harder for everyone to get credit, even those with excellent scores.
Additionally, if you’ve been applying for a lot of cards, you’ve had a lot of inquiries. When lenders see multiple inquiries, they wonder why you are suddenly seeking so much credit. This makes them even more hesitant to lend—especially now.
We hope this helps. Best of luck with that score, and please stay safe.
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Hello julia Sizemore, When you sign up with Credit Sesame you will have access to your free credit score, free credit report card, and free credit monitoring. In the app you will also learn how to understand your credit, you will find out what impacts your credit, and personalized tips on how to improve it. Let us know if this information was helpful to you and if you would like to learn more about it.
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Hi Herman Rathke, To see your credit score you will need to sign up with Credit Sesame, you will have access to your free credit score, free credit report card, and free credit monitoring. In the app you will also learn how to understand your credit, you will find out what impacts your credit, and personalized tips on how to improve it. Let us know if this information was helpful to you and if you would like to learn more about it.
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Hi Michael young, Welcome to Sesame Thrive! In order to see your credit score from the Credit Sesame app you will need to sign up as a member first. As a Credit Sesame member, you will have access to your free credit score, free credit report card, and free credit monitoring. In the app you will also learn how to understand your credit, you will find out what impacts your credit, and personalized tips on how to improve it.
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