Help!!

[Anonymous]

I recently started paying things off of my credit and noticed that my score is going down, not up!! What is going on? You think if you pay, you are better off? Score went down 60 points!! What do I need to do to raise my score? Paying off isn't helping!! Please Help!

[Miner]

There is something else going on.  What is on your credit reports (# of accounts, lates, etc)?  Has something new shown up such as a collection?  Also, many CCCs are reducing CL as people having been paying down their debt and this may be happening to you.  In general, paying down your balances should help, so something else is going on.

[athensguy]

Where are you getting your scores?

[Anonymous]

I signed up on the "Triple Advantage" through freecreditreport.com and bought the scores.  There is nothing new reported on the reports, as I just refreshed yesterday? I am confused?

[athensguy]

I recommend you read the "Credit Scoring 101" sticky at the top of this forum.

[treski]

Those scores are junk.  Don't pay attention to them.

[Anonymous]

Also, should I make payments instead of paying off? I don't have much left to pay ( a few medical bills) and I just want it cleared up. I heard showing more revolving is better than just paying off. Is that true?

[Anonymous]

Are you paying off credit cards or other, i.e. collections?

If you're paying off credit cards only - your scores should go up.

If you're paying off collections, it's entirely possible your scores are going down as those now become recently active negative accounts.

Message Edited by Shnapple on 09-24-2008 01:45 PM

[haulingthescoreup]

Seriously, go read Credit Scoring 101. You're asking questions that it covers.

We'd be delighted to help, it's just that getting that overall view first will help you make better sense of it.

[Anonymous]

I am paying off collections only. Did pay off an old CC from a few yrs ago. So, by paying, I could be hurting myself as far as the score goes. Do you think it will be better in a few months? Should I make pmts instead?