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Posted in Paying Your Bills
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Question By
tbly23

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Credit going down for paying a payment
I was closing on a Condo this week and could not close because I paid a $70.00 payment on a credit card that took my balance to zero. They DINGED me 107 points for simply paying my balance on the card. How can this be right or even legal. No wonder the middle class can no longer win...And why does Credit Karma continue tell me to open another credit card and pay my bills monthly to increase my score. This credit card was opened in March by recommendation of Credit karma. i got DINGED 32 points for opening it then this 107 for paying the bill on time and in full. This need to be looked at...I have been getting horrible advice by Credit karma.

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Making a payment and taking your CC to zero balance will not make your Credit Score Drop like that,   If that was the case my  Credit Score should be zero with 15 Credit all with 0 balance.   Something else caused it.

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First, be aware that your lenders probably does not use the scores that you get here at Credit Karma, they most likely use a version of FICO scores. There can be big differences between FICO scores and the scores that you get here. As already said, your scores would not plummet like that for paying off a credit card.

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