Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
MSSTEPH120

0 Contributions
0 People Helped
What's the most common rrason for a score to drop significantly? Could it that credit card at limit

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
5 Contributions
3 People Helped

Utilization rate

Yes, your credit score depends heavily on what % of a card's limits you're using. If your total limit on Card A was $5000, and your balance went from $800 to $4800 in one month, that would cause your credit score to drop quite a bit. Your overall utilization (all your balances added together / all your limits added together) matters a lot too, so if all you had was Card A with $5000 and Card B with a $1000 limit, then that would really affect your score. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.