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GLCOKGIRL09

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Credit score dropped 77 Points ?!?
I had a 757 Credit score. I had two credit cards at the time that had balances of 100 dollars and 1700 dollars. It was suggested by credit karma I get a new crdit card and transfer off my highest balance to save on interest. So I did just that. Opened up a card with a 1500 dollar max, and transferred the max off my previous credit card. THEN I paid off the remaining balance on both the cards. SO to be clear, now I have less total debt by about 300 dollars, and only one credit card with a balance (granted it is maxed) But how in the world would this drop my score 77 points, when my credit card utilization is only 12 percent?! Its like im being punished for paying off money!

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Utilization is factored per card and overall. So you are completely maxed on one card, that will hurt your scores. You also opened a new account which resulted in a "hard inquiry" and a reduction in "average age of accounts" which both ding your scores. Get the balance paid down on the maxed card and keep an eye on your FICO scores too.

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