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Question By
mp7ski

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Credit score dropped when when expected to rise...?
My credit score was holding at about 715 for a few weeks. Over a year ago I was at about 650 and after paying on my student loans steadily on time and a credit card, I brought it up. I'd always use about 70 -100 dollars of a 3000 dollar limit, let that balance hold until about a week before it was due and then pay it off with no problems and it kept rising. Then a few weeks ago everything changed. I used about 48 dollars of the 3000 dollar limit at the beginning of the month and it wasn't due for another 3 weeks, but was reported to credit karma and my score dropped. It wasn't reported as late or anything it just dropped a couple points cause I had a balance of 48 dollars at the time. Never had it done this before. Then I got another credit card figuring it would help my score since I only had 5 total accounts on my credit. 6 would move me from very poor to poor for total accounts. Was approved for 4500 dollar limit and scored dropped a point like expected due to hard inquiry but then, I used about 200 dollars of the 4500 dollar limit a week after I activated the card and planned on paying it off a week before it was due, but shortly after using the card, the 200 dollars was reported on my credit score and my score dropped 6 points... why is this happening? I'm not late, I'm using less than 10 % of my limit and paying it off a week before my due date that month. Why is it droppimg. I expected it to rise with a new account added. I don't get it, do they expect you to just never use the card? It makes no sense, any help will be appreciated

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First off, it sounds like you are not having any problems getting good credit cards and it sounds like you are extremely responsible with credit. That said, I would not worry too much about what you see here with the Vantage scores. I advise you to check out your FICO scores from time to time.

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