score dropped 29pts for using 3% of credit

[Anonymous]

card 3 had 0 balance at the time im starting to think i shoud never use the cards again if they hurt my credit  my score droped an other 18 pts for using 181.00 on my card with 5000.00 limit and all balances on other cards paid off . this is proof every time i use a card my score goes down using only 3%  

[Anonymous]

i have no derogs credit is clean

[Anonymous]

I did pay off a loan a cd loan a week ago

[StartingOver10]

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@Anonymous wrote:

PS.  It sounds like you have paid off a loan recently.  Can you tell us when you did that?

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^^^this is a critical point. If you paid off an installment loan recently it is very possible you lost those points to paying off the installment loan. I know I lost about 60 points across all three CRAs when I paid off my only open installment loan. Its very possible that you lost points to the payoff of the loan and not the $170

[Anonymous]

why is that

[elim]

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@StartingOver10 wrote:

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@Anonymous wrote:

PS.  It sounds like you have paid off a loan recently.  Can you tell us when you did that?

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^^^this is a critical point. If you paid off an installment loan recently it is very possible you lost those points to paying off the installment loan. I know I lost about 60 points across all three CRAs when I paid off my only open installment loan. Its very possible that you lost points to the payoff of the loan and not the $170

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  +1    For some reason Fico scores don't like us to pay off a loan...

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?advanced=false&allow_punctuation=false&q=score+drop+after+paying+off+loan

[Anonymous]

kellyland123, your score definitely dropped due to paying off that installment loan if it was your only open loan.  When it comes to "credit mix" FICO enjoys seeing an open installment loan.  There's a simple work-around known as the share secure loan technique which can get you back those ~30 points very quickly.  If you're interested in it, let us know and we can provide you with additional information.

[Anonymous]

yes pleas tell me what to do to get back my 30 points

[Anonymous]

Was this your only installment loan?  If so, this is what BBS had in mind.  You only need to read the first three posts:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

Be sure to read through it slowly, though.