Score dropped 50 pts when I dropped my utilization from 75% to 40%

[Anonymous]

I recently started a new business. It is a used car lot. I have about 75,000.00 in inventory and it's all cash. I ran my credit card utilization up to 80% of about 30,000.00 in credit cards. I have a 100% perfect payment history. I have about 25 cc account of which I use about 10 and the others are store cards with a 0 balance. So I wanna apply for a dealer floor plan and they are fairly easy to get. They give you a 100,000 credit to buy cars for your lot. So I wanted to make my credit look a little better before I applied. My scores were around 590. Vantage score. I paid off a 5000 card, a 4500 card and a 4000 card. My utilization now is around 37%. Why did my score drop to 525? It should have went up 70 or 80 points.

[Anonymous]

First get your FICO score from any of the free sites like credit.com, creditscore.com, creditscorecard.com or CCT $1 7day trial...etc., I have seen few similar posts regarding VantageScore in the last few days.

[UncleB]

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@Anonymous wrote:
First get your FICO score from any of the free sites like credit.com, creditscore.com, creditscorecard.com or CCT $1 7day trial...etc., I have seen few similar posts regarding VantageScore in the last few days.

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+1

Once you know what FICO scores you're working with folks will be better able to help. 

[sarge12]

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@Anonymous wrote:
First get your FICO score from any of the free sites like credit.com, creditscore.com, creditscorecard.com or CCT $1 7day trial...etc., I have seen few similar posts regarding VantageScore in the last few days.

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I am beginning to think someone at CreditKarma is playing games or they installed some new software that is causing glitches. As if their scores were not useless enough already.

[Anonymous]

The only thing is some are reporting similar behaviors from other Vantage sites as well, perhaps FICO hacked Vantage?

[sarge12]

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@Anonymous wrote:

The only thing is some are reporting similar behaviors from other Vantage sites as well, perhaps FICO hacked Vantage?

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Vantage might be making some adjustments to their model causing all this...if so, well we've all been saying it needed to be fixed.

[Anonymous]

I'm gonna stick with the FICO hack theory for now.

[sarge12]

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@Anonymous wrote:
I'm gonna stick with the FICO hack theory for now.

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I say Trump or Pelosi or Bernie dun it...not to be political I included all three.

[Anonymous]

Not sure any of them knows how to log on to a computer. Ok maybe Bernie.

We should probably stay on topic before UncleB brings the hammer down lol.

[Anonymous]

Vantage Scores are trash and should be ignored.

A FICO score would never go down from paying down revolving debt, so long as you still have some revolving debt reported.  Your FICO scores would either go up or stay the same, depending on where your utilization percentages land on both individual accounts and overall.