Credit Score Drop?

[Sinarta]

Hi guys,

I'm still new here but I have been trying to increase my credit scores. I pulled my equifax score (I'm guessing it was my FAKO) in December and it was a 613. I have 4 credit cards that all were almost maxed out. Last month I decided to pay off the ccs and I did and now have no balances on either of the cards. I just pulled my (FAKO) again and equifax score is now a 598! Why have this score went down I have nothing late as I have paid off everthing. My other two scores are 600 and 608. Why have this happened?

[Anonymous]

Equifax is a read FICO score. Your drop after paying off debt could be a few things.

Did you apply for new credit?
And mostly were you late even just one time since you pulled your last score?

If you answered yes to either of these, that could explain it.

[RobertEG]

Also realize that what you may consider to be a PIF on a card may not actually report as such.  You must know the date that the CCC reports, for it is the %uti on that date that matters.  And even knowing that, also be aware that CCCs charge interest on a daily basis, with the balance on each day being multiplied by your annual rate/365 to determine that day's interest.  Paying off the current balance usually wont end up being a reported PIF.  The interest does not post on your statement until the next statement, so if you pay a few days before the next stattement, and pay the balance in full, it usually wont end up being a PIF if you had a balance on any day during the last month.

[Sinarta]

Thanks for the reply guys. As for the answers for some of you comments, I have not been late on any of the payments at all. I also checked out my actual report and one of the ccs have reported and I have a zero balance on that, but my 2 household bank cards have not reported as of yet. I also have a exxonmobil gas card and it shill has not shown up on my report as of now! But should the score went up instead of down due to one card reporting?