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drj2685

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Why did my credit score drop?
I have been making all of my payments on time with Capital One and my credit score dropped 40+ points this month. It has a statement balance on their when I go to look but it's not over my limit and it is paid. Can you use too much credit? My credit limit is $300 and it was $210

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but still why did my credit score drop

why did my credit score drop

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Without seeing 2 months worth of complete credit reports, nobody can say for sure why your score dropped.  Yes, you can use too much credit, if your credit balances are over 30% of your limits, that hurts your score a lot.  It is best to keep card balances around 10% of your limits for optimum score.  The increase in your credit limit helps your overall utilization, so that was a good thing.

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