Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
tyroo

2 Contributions
2 People Helped
Did this make my credit score really drop 60 points in 10 days?
For the 1st time, I went over my credit limit on one card. I paid it down in a week as soon as I noticed. Maybe too late? I never carry balances month to month. My overall utilization ratio of all cards is always under 10%. I had excellent credit and now it's good. Could it really impact that much? Will it rebound quickly if it's paid off now?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7816 Contributions
1456 People Helped

If your card reported to the credit bureaus as maxed-out and then some, then yes it would cause significant damage to your scores. The good news is that damage from high utilization is not permanent and will be repaired once the balance is paid down. I would not concern myself as long as you now have the card paid done, next month the damage should be gone. Keep an eye on your FICO scores too.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.