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Posted in Paying Your Bills
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dw1935

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nov. i paid 12000.00 on credit cards and a 4000.00 loan my credit score keeps droping why

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Not Typical

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The reason you score dropped is paying off large amounts in one month is probably not typical of your credit profile.  For example, if you charged $12,000 each month and paid it in full, your score would remain about the same.

However, you did something atypical; you paid down/off $12000 in credit card debt.  You also paid $4000 on a loan.  Your score will rebound over the next several months so just monitor it.

Be sure to keep your oldest credit card open so that you can build some history.

Hope this helps.

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