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jamesandbillie

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How come my credit score went down as soon as my balance went down by $4000.00?
The last month I have been lowering the balances on my credit cards. It does show that in my Credit Karma report that I have lowered it by close to $4000.00. Why did my score take a 23 point drop for lowering the balances on all of them? Nothing else has changed including inquires. Thanks for your time

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Credit reports change daily, maybe even hourly, and without any action by you.   Perhaps an old good account that was closed has finally dropped off your report and that hurt your utilization (just an example) or maybe you have a new collection account you are not aware of.  Without seeing the last 2 months of credit reports, nobody can answer your question.

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