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julzma

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Reduced my credit card utilization from 72%, but credit score won't go up
Sooo I got a new credit card in Dec. I use it, charging up 72% and when that charge showed up on my credit report in Jan, my credit score dropped 20 points. Seeing that, I immediately paid off the balance to $0, so early payment + paid over what was required. Finally my payment is now reflecting and though my credit card utilization is back down to 0%, my score has not come back up to what it was. As a note, there has not been any other activity in this time except me making 2 car payments on time.

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I suggest reading the articles on this site so you can better understand how credit works.  Having zero utilization is not good for your credit score just as having had a 72% utilization was not good.  Keeping utilization at or below 10% which means using  the cards occasionally and paying the balance in full only when the bill arrives, and not before, will help your score. And, if you only have one credit account, that is not enough for a good credit score. 

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