Why is my credit score fluctuating month to month?

Your credit score is fluctuating for a variety of reasons.

Your credit score can have significant or insignificant fluctuations monthly, and these fluctuations can be from a variety of reasons.

  1. Differences among the credit bureaus: TransUnion and Equifax are the two credit bureaus in Canada and might use different scoring systems, which can lead to fluctuations.
  2. Aging of negative info: with time, negative information isn’t as relevant to your score, and is no longer calculated, which could improve your score.
  3. Payment history: your payment history plays a huge part in calculating your score. Late or regular payments will affect your score monthly
  4. Debt to credit ratio: also known as credit card utilization. The higher the rate of your credit limit used, the lower your credit score is. The lower your usage, the higher your score.

Be the first to try the app

Sign-up and get exclusive access to try the app when we launch. It’s time to control your finance.

About us

Control all aspects of your finances. Learn about what you need to know to make smart decisions. But most of all, have trust that we’re here to help. In the end, you’ll have more time to do what you love.
Chango - Unifying your financial world. | © 2018 Chango Card Inc.

Rethinking personal finance

Subscribe to be part of the next wave in finance

Ready for something awesome?