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Question By
tadeol2009

3 Contributions
9 People Helped
paid of credits
My score dropped by 50 points - not sure how or why?

I just paid off the following credit lines:

-Discover card
-Paypal Credit
-Amazon Credit
-Best buy credit

What now?

I have not closed any of the credit lines, and for now I have no intention of using them again.

So what happens now? especially to my score.

Currently its at 670, last November it was around 730 ish...

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Top Contributor
45 Contributions
6 People Helped

Tips & Tricks

DON"T close any of those account. If you use each one on a regular bases your score will go up...here is the trick that will raise your scores quickly:

Do this trick with all of the above mentioned CC:

1) if you have a credit limit of $1000 for example charge $10.00 to $100.00 on that card. (trick) pay $1.00 more than the min. monthly payment for 3 months in a row, THEN PAY OFF THE BALANCE. 

2) Repete this process and you see your scores jump into the 700s within 12 months

You see the computer looks at you paying the min. as bad but by paying $1.00 over the min. the computer looks at it as a good thing. Paying off the balance means the bank isn't making money so why reward you with FICO points

USE the system in your favor not theirs, this way it's a win win for all...

Good luck!!!!

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