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LanceChu

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Credit Score drop heavily due to credit utilization, will it increase back after paying the debt?
At the end of last month, I made a huge purchase which is almost equal to my credit line. I made the payment immediately, however it took two days to complete that payment, during which time happens to be my statement date. So I have a 100% utilization on last statement, making my credit score dropped around 90, which really shocked me down.
Could anyone tell me when will it increase back to the score before?
I would expect it to increase back on next refresh date, say after one week or one month.
Is that correct? Or it would stay long for this low score?
I do not think I deserve this to be long since I made the payment immediately, just unlucky to be incident with my statement day.
Thank you guys.

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This is purely a guess on my part, but I think it'll go back up once the utilization percentage goes back down. However, that can take time! I paid off all my credit cards two weeks ago, but my credit utilization is stil shown as 17%  on my credit reports. However, when I look at my 'spending' here on CK, the balances on all those cards are correctly shown as $0. So you just have to wait until the actual credit bureaus do their updates, which I believe is once a month.

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