I know there has been discussion regarding obtaining a new credit report at renewals, how often, how old the credit report, etc, but I am reviewing a credit report pulled today with a 582 score and for the life of me, I still don't understand how scores are derived. The customer does have a $497 charged off account, but the rest of the data is from our bank with no past due at all. Account balances total $1,250 with a monthly payment of $238 ! In the derogatory section, it lists "too many inquiries last 12 months." There are a total of 3 - period. Our bank on 08/16/2011 and 03/20/2012 and one 07/07/2011. Surely the small charge off and our credit pulls did not tank her score (?).