Can paying your Credit Card down too fast lower your score

[Walt_K]

---

@MarineVietVet wrote:

---

@Walt_K wrote:

If an account is actually in dispute, it is ignored for FICO scoring.  In that case, if the dispute is resolved against you and the negative account remains, then yes your score could drop.  If the account isn't in active dispute, but there is merely a comment in the remarks section that you once disputed the account information, that has nothing to do with your FICO score.  It will neither help nor hurt your score to have that comment changed.

The bad news is that it can be a real pain to get those comments removed sometimes.  There's a thread with some helpful numbers.  I'll go find it and get you the link.

ETA: http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-M...

---

Not all items are removed during a dispute. Unfortunately (or fortunately depending on how you look at it), portions of an OC account under dispute will not be scored by FICO. Among these are the balance, the CL, and the payment history. Other items like AAoA, scoring bucket, mix of credit, acct age, etc. including CAs and PRs, are not removed or impacted by a dispute.

---

Thank you for the clarification.

[Anonymous]

---

@pakman92 wrote:

---

@Anonymous wrote:

I'm 1 point away from a 620 as I go for my loan -- doing a rapid rescore with my broker that should give me 11 points. My question is that I have  2 other cards with above 30% utilization. I've heard that there are instances where if you pay them off too soon it can actaully negatively effect the score. Since I'm so close to where I need to be I want to be cautious. Should I pay down to $0 balance? And if so will I see an uplift or decrease in scoring. Thanks.

---

The maxinum benefit from util will come when you pay down everything to 0% EXCEPT for 1 account.  That 1 account should have util of <10%.

---

This is the EXACT forumula, or 1 to 9% utilization on less than half of your revolving accounts. Zero percent makes you look credit dead.

[DallasLoanGuy]

there is no such thing as paying down too fast.

fico takes a snapshot of your credit..... they dont know what it looked like yesterday.

whoever told you that should not be a reliable person to get advice