Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
LucidSound

0 Contributions
0 People Helped
My score dropped 130 points for high credit utilization on one card. How long until it bounces back?
My score was 760 and dropped 130 points, naturally right when I am going through some unexpected events and now in the market to buy a home before I was quite ready. Now my score is 635 and I am slightly panicked. I have several cards, most unused or super low balances that I pay off every month. I put my vacation on one card, and am working on getting that down, and gifts for the holidays maxed out a different card, but I promptly paid it off (card I use as cash). I am hoping to have the high card paid off in the next 1-2 months - ASAP. How long will it take for my credit t to bounce back? That is my biggest question. Also any advice or help would of course be appreciated. I was so proud my score and working on getting over 800. I knew it would take a little ding with vacation and the holidays, but I had NO idea. Thank you Credit Karma community!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
497 Contributions
1203 People Helped

It should bounce back as soon as the balance on that card comes down especially if you're able to pay it off quickly. It's always a good rule of thumb to keep your credit card utilization under 20%.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.