The credit bureaus are changing the criteria for how they generate your credit score. Mostly, the changes are well overdue, but there are a few things to be aware of:
- smaller credit blemishes (under $100) will not affect your score as negatively as they used to.
- More open credit, but less balance on the card helps your score. that you carry a balance month to month does not matter as much, that your balance is a small percentage of your available credit does matter.
- If your credit card lowers your available credit, or closes an account you do not use but still have open, it hurts your score.
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