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Why did my experian score drop after paying down my debt?

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Anonymous
Not applicable

Why did my experian score drop after paying down my debt?

I paid off all my balances on my existing credit cards, my TU, EQX, score went up 12-15 point to 726 and 724 but my experience score dropped 7 points after an alert that my balance was paid down? Does anybody know why experian would drop my score? I have perfect credit and feel like am taking crazy pills after seeing the drop. 

Message 1 of 5
4 REPLIES 4
dnice77
Regular Contributor

Re: Why did my experian score drop after paying down my debt?

I could be rebuceting and alos having everything to zero is not better than carrying some balances.



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Current Score: 744 Smiley Happy
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Message 2 of 5
Loques
Regular Contributor

Re: Why did my experian score drop after paying down my debt?

From my understanding, having a $0 balance does negatively affect your scores. It is better to let one card report <10% utilization.

Current Score (11/2020): EQ: 753 | TU: 731 | EX: 749---Starting Score (3/2010): EQ: 522 | TU: 525 | EX: 520---Goal: All 3 FICO 800+
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Message 3 of 5
Anonymous
Not applicable

Re: Why did my experian score drop after paying down my debt?

That is crap! I have been rebuilding my credit since Aug so what ever new info reporting is good things, I got a bunch baddies removed in Aug and sept. Then i needed to work on my UTL which was damn near maxed, I'm saying that to say my UTL are the only changes to my report since sept and it has been slowly decreasing (goog thing). Today to got an alert saying your CC balance deceased by $270 and your score decreased by 7 points as well. I'm no where near 0 and that is the only change. Nothing add nothing removed. So why the decrease!?
Message 4 of 5
AndySoCal
Senior Contributor

Re: Why did my experian score drop after paying down my debt?

This is to either one whose score that wnet down  after apy off their credit cards. On the credit report after the cards show as paid off chekc the scores reasons. Did they change in the order reported or is there a new reason showing ?

FIC Scores XPN v8 808 V2 831 (SDFCU) TUC V 8 803 07/25 EFX Bankcard v8 822 EFX FIC0 v8 800 Vantage score 4.0 817 via JC Penney )
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Message 5 of 5
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