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Question By
angie0487

1 Contribution
15 People Helped
My score dropped 150 points I was at 640 last month and now I am at 500
I have not had any late payments the only thing is one card reported at 90% utilization the card is only a $300 limit and I had to use it for an emergency will be paying $50 per month on it to lower it down the rest of my cards reported at 1% I have 5 credit card total they all reporting at 0% or 1% I knew my score would drop for having 1 card almost maxed out but I didn't think it would drop 150 points I make all my payments on time and overall credit utilization is only 35%

Is the only way to bring my score up to pay that card down to 0 and just not use my cards I thought I could use one card since I would have more credit available with the other cards being at 0 thought I was giving myself some leg room. So is it best to just spread all your debt among all your cards than to max out a single one and leave the rest at 0?

Your total credit card balance
$416
รท
Your total credit card limit
$1,200
=
Your credit card utilization
35%

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Top Contributor
7347 Contributions
3806 People Helped

This is likely just a temporary situation until after you get that card paid down. Pay as much as possible (remember, you are going to be charged interest for having a balance on that card for more than one billing cycle) to get this card paid off quickly.  Increased utilization of even one card can affect your score.  I know, because I just utilized some checks from one credit card that pushed utilization above 50%.  Please review the articlesd here so you can better understand these aspects of credit.

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