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Paid off credit cards, but FICO went down!

New Contributor

Paid off credit cards, but FICO went down!

Hello, About a week ago I paid off all of my credit cards (originally with high balances) -- I paid them down to $0 --- but my FICO score decreased 11 points today (???!!!!) with some new charge. I'm still showing my original balance, PLUS they've added new activity for a few hundred dollars, causing me to drop a (slightly ridiculous) 11 points. ARGH!!! Will I get a large bump back up to a higher score when the payoff reconciles? How long does that take? Is there anything I can do to correct this? Thanks! Scott
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Moderator Emeritus

Re: Paid off credit cards, but FICO went down!

CCCs generally report once a month.. your score won't reap the benefits until the new balances are updated.
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