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Natcat485

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why did my credit score down down when I paid off all my cards? Shouldn't it go up?
I just paid off all my cards and closed all but one to consolidate debt. But my credit score went down by 50 points! I don't want to have a balance on any cards i have (only one now) because I dont want to spend anymore money on payments. i am trying to cut down on spending

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The short, unofficial answer is that they like it when you owe them money and pay lots of interest.  How dare you cheat them out of paying them tons of interest! 

Seriously, its probably because you closed the accounts.  Your average age of open accounts is probably shot now.  Literally takes years to bring it back up.   Closing accounts is generally not a good idea for this reason. You are better off paying off the account and then cutting up the credit card so you cant go out and make impulse/irresponsible purchases.  Do not close the account, though. 

Top Contributor
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The scores dropped because they closed active lines of credit, not because the "average age of accounts being shot now". The average age of the accounts did not change as they will be factored into it even when the accounts are closed. The other advice was spot on though, you shouldn't close accounts.

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