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vikkee

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Can a 90 point drop in score revert back after repaying bills in full?
Due to move in a new place, I had swiped too much of my cards and now I have lost about 90 points in a single month (Down to 620 from 710).

How long is it going to take for me to restore it to 710? Will paying back all the bills in one go shoot it back up or ?? Errr...I am going crazy. Welcome all advise on this, and I am sure many went thro this phase.

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Don't Panic

Your score should go up after you pay off the balances. Also, in order to get and maintain a good FICO score you're going to have to educate yourself on how credit works. Having credit cards isn't a bad thing. The key is knowing how to use them. If you pay your credit cards balances off 7 days before your due date the credit card companies can't charge you interest for using their cards. If you set up auto debit for the minumum amont for each month you will never have to worry about a late payment. One late payment can drop your credit score by 60 points. However, I wouldn't suggest you pay the minimun. Also, only use one third of your credit card max. Example: If your credit limit is 900 only use 300 of that. Below is a link to help you better understand credit. I hope this helps! 

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

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