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Question By
hubaba

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I paid off some of my credit cards. Instead of going, my score dropped significantly? Why?
I paid off a couple of credit cards and some on another. I expected this to really help my score but instead it dropped over 100 points! Nothing else has changed on my credit report. The only difference is my credit card utilization significantly going down. Can someone please tell me what is going on?!

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Screwy scoring system probably. Watch your FICO scores in addition to any free scores that you get.

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Did you close the cards you paid off?  I paid off 2 of mine, kept the accts open and active.  I charge on occasion to keep activity on cards.  When I paid mine off the score went up.  I had planned on closing accts completely but that will impact your score in a negative way.

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