Score Plummeted, will it increase again?

[RAVM]

My original score was 720. It went up a bit for a payment on a loan and lowered back down for 2 new cards. I have 2 cards that are around 60% utilization and one that is nearing 90% (very low credit limit for this one). According to CK my score went down 100 pts. I haven't had an update for myfico yet. When I pay down the balances will my score go up to what it used to be if the only thing affecting my score is the high utilization and 2 hard inquiries?

[missjae]

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@RAVM wrote:

My original score was 720. It went up a bit for a payment on a loan and lowered back down for 2 new cards. I have 2 cards that are around 60% utilization and one that is nearing 90% (very low credit limit for this one). According to CK my score went down 100 pts. I haven't had an update for myfico yet. When I pay down the balances will my score go up to what it used to be if the only thing affecting my score is the high utilization and 2 hard inquiries?

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Welcome!  I'm new here too and I'm sure some vets can weigh in on this better than I can.

CK has a score simulator you can use to see how changes would affect your score.  However, I think CK is a little off (just my opinion).  I just started using it and before I can say it's close to reality, I'd have to pull my own scores.  CK compared to other scores of mine is off by over 50+ points....

[GaTech]

If you pay down your balances, your score will increase the following month as if nothing had happened (utility is only relevant for a month and updates every time it goes up or down each month).

[CBTS]

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@GaTech wrote:
If you pay down your balances, your score will increase the following month as if nothing had happened (utility is only relevant for a month and updates every time it goes up or down each month).

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+1. Utility only affects your current credit situation, no long-term effect.

[knoregs]

CK is useful for certain things... your credit score is not one of them. Lowering your UT will raise your score as soon as the new balance reports to CRA. The rebound from a few new accounts will take a few months, give/take.

~kn

[djc1puno]

Ck scores are fako. Even their simulator is completely unreliable IMHO. I put in 24 months on time payment and my score drops!

As for your score recover don't sweat it. It'll go back up as the new cards age and even more so once you start bringing your utils down. Gl!