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Previn

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Why did my credit score drop after paying off credit cards?
So recently I had some decently high credit card balances but nothing unusual, maybe $1,500ish total on all my accounts. I paid the entire balance off, as usual, when the payments were due and for some reason, bang. My credit score dropped 40 something points on both Transunion and Equifax! I have no idea why? I even withheld from getting more credit cards because my inquiries went down and it's just really bothering me because I was at 742-746 and now I'm at like 698-706 (TU and EF). Has this happened to anyone? Credit score just drops a significant amount for no apparent reason? I think I might have just hit the roof at my level (2 years of credit history, just credit cards no loans) and the credit bureaus might want to see me make some progress in life or something. I don't know. I'm really upset about it though.

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It shouldn't have unless you closed those accounts in conjunction with the pay-off.

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