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Britnih8869

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22 People Helped
I just paid off the majority of my credit cards, and my credit score went down like 40 points!
I just paid off almost every credit card i have, and my credit score DROPPED 40 points. Why?! I have never made one late payment, I had one item in collections that i also paid off. Why is this?

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Paying off the collection account caused an update on the account and looked like a new collection to the scoring system. If the collection was removed, then I would say it is just Vantage Scoring being ridiculous. Paying off credit cards is a great way to improve your FICO scores as long as you did not close the cards.

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