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guys please someone answer to my question,
after start working with credit repait company sky blue they are realy good, i open some credit card at same time and makesure my usage is low. i got alart my score chnage to 645 from590. i was happy. and my daughter use my credit cart which was for credit one. i got over limit $6 total $406. and they report to all 3 bearu
and they changed my score to 590.
i paid my full balance but still my score is the same.
my question:
whene they start to report monthly toall bearu , is my score would be back to $645 again or not?
if not how can i fix this problem?
thanks for all help
I don't know the specifics, but in general Credit One is a predatory lender, so the first thing I'd wonder is if they added some sort of negative to your file for going over the limit. Pure speculation on my part, but you may want to check your credit report.
Do you have monitoring here at myFICO or somewhere, to see when changes happen to your credit file?
they usually report it the next time statement cuts. just give it some time
If your daughter put your card over its limit and it reported to the bureaus, then the score drop is due to having a maxed out card. If you paid the balance off, then next time it reports, your score will go back up. No worries.
On the other hand, it's possible that whatever that credit repair company had removed from your credit reports in order to get your score up could have re-reported. You might want to take a look a your credit reports just to be sure.
Before I joined myFICO my score went up & down by 25-30 points every month. What I didn't understand at the time is that utilization can swing your scores a lot. For best restuls, you want to keep your utilization between 1-10% on just one card, keeping all others clear. You do this by submitting payment before statement cut. Card companies will typically report your balance each month as of statement cut.
By going over limit, you score was probalby penalized even further than maxing out your credit. Definitely a huge negative, but it will go away once you get your utilization down.