June Credit Score

My June credit score is 678. This is a decrease from 696 last month and reverses the my recently established slight upward trend. I thought since I had reduced my credit balances slightly this month my score would continue to rise. My guess is that the opening of a new Discover card account is the reason for the decline. I thought since it would reduce my level of debt to available credit ratio it might increase my score. Apparently though my credit score is being reduced for having too much available credit. I should be able to finish paying off my old student loan this month and then will be able to more aggressively pay down my credit card balances. My goal is to pay off at least one of the two completely this summer. That should have a positive effect on my credit score.

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