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tbanal74

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I paid off all my collection debts. I'm trying to increase my credit score but it dropped why?

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Can't really answer your question without seeing your full credit report, but how many good active accounts do you have?  If you haven't already, get a credit card (if your score is low you'll probably have to get a secured card) to starting building good credit.  It will take a few months, so be patient.  If you already have a credit card, then keep a balance of 1-3% of your credit limit on it at all times and your score will increase.  Best of luck!

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Credit score dropping

I would like to know the same question. I just recently paid off over 3,000 on different debts. At first my score increased over 3 months, then the bottom fell out as soon as my bank of America credit card was reported, not sure exactly if that is what happened but that's the only thing I opened, and it's a secured credit card. One score dropped -15 points while the other dropped-10! Extremely frustrating. Would like to know if you ever found out what causes this?

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