Perhaps you're preparing to buy a home. You know that your credit score is a major deciding factor in whether you will be approved, as well as what rate and terms you will be offered. The better your credit score, the better interest rate and terms the mortgage company will offer.
You have been paying all your bills on time, and trying to do everything right . . . but your credit score suddenly dropped. What happened?
Paying your bills on time is a major factor in your score, but there are some less obvious reasons your credit score may have dropped.