Dramatic Credit Score Drop After 2 Cards Updated No Balance

[SilentOne]

Make this make sense: In year 3 of credit repair. Average Experian was 675ish w/ 8 total card accounts ($12k CL + AMEX Platinum) and a car loan. Am also an added user on a card w/ $15k CL. Average account age is like 1.5 years. I think I'm down to 5 inquiries in the last year. 

My smaller cards were getting towards their limits for a couple of months, but everything was always paid on time minimum wise. No report issues at all, or changes otherwise. Score was pushed down to 569 due to the balances. I was hovering around 50% credit utiliziation in total even with those. I had a large client account pay and I suddenly paid off several cards in full, paid the others to under 20%. So my utilization is in a super healthy zone. 

So far, only two of them updated as significant balances having been paid off (the rest still haven't) but it dropped my score by 51 points. So financial responsibility now has me at a 513. 

I'm afraid to see how much it may drop when the rest of them update, haha. 

So two questions...

1) How long does it take for your score to recover from being very responsible and paying off your accounts? (haha)

2) I've had this happen before and am aware that it's apparently a thing. But how do they possibly justify paying off your cards as being a risk worthy of dropping someone's score? Paying off your cards is apparently (at least temporarily) seen as being on par with a 30 day late. Which seems incredibly stupid by every measure.

[FireMedic1]

Where are you getting your scores at?

[SilentOne]

It's pulling from Credit Wise and the Chase app, both Experian.

[Horseshoez]

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@SilentOne wrote:

It's pulling from Credit Wise and the Chase app, both Experian.

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Ahhh, now it makes more sense, those are not FICO scores.

[GZG]

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@SilentOne wrote:

It's pulling from Credit Wise and the Chase app, both Experian.

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Creditwise gives you Transunion Vantage 3.0

Credit Journey from Chase gives you Experian Vantage 3.0

Vantage 3.0 is wild and erractic and cannot be reasonably explained

Use Experian's official website and the free (or paid) FICO scores on this website to see what your "actual" (score which is used by most lenders) credit scores are and how they are impacted. FICO scores don't drop solely because you pay down balances. 

[SouthJamaica]

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@SilentOne wrote:

Make this make sense: In year 3 of credit repair. Average Experian was 675ish w/ 8 total card accounts ($12k CL + AMEX Platinum) and a car loan. Am also an added user on a card w/ $15k CL. Average account age is like 1.5 years. I think I'm down to 5 inquiries in the last year. 

My smaller cards were getting towards their limits for a couple of months, but everything was always paid on time minimum wise. No report issues at all, or changes otherwise. Score was pushed down to 569 due to the balances. I was hovering around 50% credit utiliziation in total even with those. I had a large client account pay and I suddenly paid off several cards in full, paid the others to under 20%. So my utilization is in a super healthy zone. 

So far, only two of them updated as significant balances having been paid off (the rest still haven't) but it dropped my score by 51 points. So financial responsibility now has me at a 513. 

I'm afraid to see how much it may drop when the rest of them update, haha. 

So two questions...

1) How long does it take for your score to recover from being very responsible and paying off your accounts? (haha)

2) I've had this happen before and am aware that it's apparently a thing. But how do they possibly justify paying off your cards as being a risk worthy of dropping someone's score? Paying off your cards is apparently (at least temporarily) seen as being on par with a 30 day late. Which seems incredibly stupid by every measure.

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You did NOT lose points from lowering your utilization.  The Vantage scores are volatile and not meaningful.