I can relate, my scores dropped 37 points after I paid off a car loan to get out from its absurdly high interest rates... which were the result of my already crappy scores. Double whammy. I think it was 623 at the time, actually. That was my only installment credit, so you get dinged if you don't have what they consider a proper mix of credit cards and loans.It does seem like you get penalized for everything, doesn't it? That was four (?) years ago, and while my scores have risen, two of them have been sitting at 666 and 675 for over a year regardless of what I do. Seriously, they haven't budged a single point. No late payments, low utilizations, increased credit limits, but bupkes on the score front. The third's at 712, so at least there's that tiny glimmer of hope. I have a charge off due to disappear in Janauary of 2017, but it's supposedly elegible for deletion next month, so here's hoping that's what was causing my glass ceiling. My "FAKO" scores are all around 760, with my auto loan and mortgage scores about as high, so at least they've risen elsewhere. I'm hoping that my real scores will rise to match.
Anyway, your scores should start to crawl back up soon. That initial dip after you got your secured card would have been from the hard credit pull made when it was opened. That effect lessens over time, and as your card gets older, you'll get an increase from that, too.I've been thinking about getting a small credit builder loan just to get another installment loan on file, so maybe you can consider that after your secured card graduates to a regular credit card in six months or so.
I was definitely in the same boat (minus owning your home free and clear - that's a huge deal), and even though my rating is comparatively much better now, it's *so* annoying to read success stories on this board from people who have only been at it a few months, like they're privy to some trick that I don't know.
