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674 to 658 by doing what the simulator told me to do.

New Member

674 to 658 by doing what the simulator told me to do.

So I had revolving accounts each month totaling 658.00 a month.  Mostly credit cards and one personal loan.  It did the simulator and it said to pay those off my score should jump up 20-30 points.  IT FELL 14 POINTS!  How can this happen?  I really need help, I need a 680 and was almost there.  I don't know what to do now. I have no balance except for my student loans and a mortgage loan.  Nothing has changed since last month when I had the 674 except that I paid all my bills!!!!!!!!!

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3 REPLIES
Valued Contributor

Re: 674 to 658 by doing what the simulator told me to do.

Welcome to the forums...

First, where did you pull your scores?

 

So, you paid all of your revolving credit down to $0 balances?

If so, that can cause a drop, FICO scoring likes to see a balance on atleast one card...1%-9%.

 

You have not had any inquiries?

 

No new lines of credit?

 

*8/10/13
Message 2 of 4
New Member

Re: 674 to 658 by doing what the simulator told me to do.

I pull my Fico Trans Union score here.  My bank checks the Transunion Fico.  No new credit or anything. 

Message 3 of 4
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Regular Contributor

Re: 674 to 658 by doing what the simulator told me to do.

You said you paid off your revolving debt to zero correct? Your credit cards. Mortgage and student loans do not count as revolving credit. You need to keep your utilization between 1-10%. So if your util is zero now my guess that is your drop in score.

Message 4 of 4