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Spirit8593

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My CS went from 730 to 650 in 1 wk from a large CC purchase. Paid immediately will it bounce back?
I had the cash but thought I would get some points on a rarely used card. Will my score bounce back, since it was paid off in 1 wk, as quickly as it dropped?

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Still don't get it

I understand if I started making minimum payments on the CC that my CR may dip but as I said, "paid off immediately". Who are these credit bureau's that automatically assume that someone will make all the wrong actions after using the credit given to one by a CC company? Talk about "guilty before proven innocent". Also, why wouldn't my CR "be exactly where it was" after my outstanding trustworthiness proven by this immediate pay back? Unless you think it will be higher?

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JohnnyRain127

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Because vest majority of creditors only report once a month, its the balance on the reporting date goes onto your credit report for that cycle, not day before or day after. And it's that balance goes into calculating your scores from utilizations/usage category...let's say your card reports on 15th of every months, you made 1k purchase on 10th, you paid in full on 17th, even tho you did paid in full but your credit report/score is going to reflect balance of 1k and not zero, until next time/month it report again. Take look at your report and see what balance was reported on that card, if it shows zero? Then the score drop was caused by something else.

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There are many contributing factors goes into your score movements, unless you are absolutely certain the whole amount dropped was solely caused by higher balance? then you can't reasonably expect your score will recover exactly the same amount. Just because one can't "see" the change it dosent mean there is no changes on one's report/profile, the credit age alone changes daily, it can hit certain plateau that would balance bit out impact on other negative contributing factors...on and on and on... Very rarely that one can use absolute terms when comes to credit score movements.

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How soon it will rebound depends on when your credit card company report to credit bureaus, Yes it will recover, tho may not be exactly where it was. People do that all the time, myself included, we put things on credit card even tho we have cash to cover it, just so we can earn cash/points. Of course, making sure you can actually pay it off without incurring any interest.

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