Both wife and I dropped credit scores without any late payments and not extravagant spending, anyone know why that could be?
There could be several reasons why your credit score may have dropped, even if you are making payments on time and not indulging in excessive spending. Here are a few potential causes:

1. High credit utilization: This is the ratio of your credit card balances to their credit limits. If this ratio is high, it can negatively impact your credit score. It's generally advisable to keep your credit utilization below 30%.

2. Closing a credit card: If you recently closed a credit card, it could have decreased your available credit, thus increasing your credit utilization ratio.

3. Applying for new credit: If you or your wife recently applied for a new loan or credit card, the lender likely performed a hard inquiry on your credit report, which can cause a temporary drop in your credit score.

4. Changes in credit mix: Credit scoring models consider the types of credit you have. A diverse mix — such as credit cards, a car loan, and a mortgage — is generally better for your credit score than having just one type of credit. If you've recently paid off a loan, your credit mix could have changed, which might have caused a drop in your score.

5. Errors on your credit report: Check your credit reports for any inaccuracies. If you find any, dispute them with the credit bureaus.

6. Decrease in credit limit: If your credit card issuer decreased your credit limit, your credit utilization ratio could have increased, leading to a drop in your score.

Remember, these are just possibilities. It would be best to check your credit report for a more accurate understanding of the changes in your credit score.
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Both wife and I dropped credit scores without any late payments and not extravagant spending, anyone know why that could be?

### Assistant
There could be several reasons why your credit score may have dropped, even if you are making payments on time and not indulging in excessive spending. Here are a few potential causes:

1. High credit utilization: This is the ratio of your credit card balances to their credit limits. If this ratio is high, it can negatively impact your credit score. It's generally advisable to keep your credit utilization below 30%.

2. Closing a credit card: If you recently closed a credit card, it could have decreased your available credit, thus increasing your credit utilization ratio.

3. Applying for new credit: If you or your wife recently applied for a new loan or credit card, the lender likely performed a hard inquiry on your credit report, which can cause a temporary drop in your credit score.

4. Changes in credit mix: Credit scoring models consider the types of credit you have. A diverse mix — such as credit cards, a car loan, and a mortgage — is generally better for your credit score than having just one type of credit. If you've recently paid off a loan, your credit mix could have changed, which might have caused a drop in your score.

5. Errors on your credit report: Check your credit reports for any inaccuracies. If you find any, dispute them with the credit bureaus.

6. Decrease in credit limit: If your credit card issuer decreased your credit limit, your credit utilization ratio could have increased, leading to a drop in your score.

Remember, these are just possibilities. It would be best to check your credit report for a more accurate understanding of the changes in your credit score.<eos_token>