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Question By
Megcap91

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0 People Helped
Can paying on something drop your credit?
I made a parent on my Fingerhut account and my credit score dropped 80 points, my payment was the only change I saw on my report.

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Top Contributor
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If the payent was made late, it would cause your credit score to drop.   If they cancelled your account and you have outstanding balance after your payment it will cause your score to drop.  A drop that high indicates you may have a late payment indicated on your credit report.

Top Contributor
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Exact same thing happened to my son, he dropped 46 points a week after he made his payment.  That was the only thing he did this period.  I don't know what's going on with this Fingerhut Company.  

Top Contributor
79 Contributions
92 People Helped

He wasn't late with his payment, account wasn't closed or in bad standing.  

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