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Egambino

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Reports are wildly inaccurate!
I have reduced my credit card debt by 50 %, to roughly 20% total, yet Credit Karma is listing it as going UP to over 41%! On top of that, my car loan has been paid off, further reducing my debt...and yet it has lowered my rating.

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A few things...

Helpful to 1 out of 1 people

It can take 30 days for a credit report to update your latest payment on a credit card.  The reporting date is not the same as the billing closing date.  It's just one of those wrinkles that makes things tricky.

Here's another wrinkle.  Paying your car loan off completely is GREAT.  The drawback though is that you now have a CLOSED account on your credit report.  This effectively lowers your Average Age of Accounts.  

You are making positive decisions with regard to overall health of your credit.  You've got to keep doing it.  You'll see your score start, then continue to rise above where it was before all of this.

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