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Question By
chubbyc

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why did my credit score drop. I'm paying on time.

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Helpful to 5 out of 5 people

 I hate the game but it must be played if I want a house ever. Agree with the above. Mine dropped A LOT when I went over 60% usage on a certain card even though payments were always good. I took a plunge and paid them down to 20-30% to lower balances and it quickly came back up. 

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Credit Fluctuations

Helpful to 6 out of 8 people

There are many factors involved in credit scores. For example: if you charge more on your credit cards affecting your debt ratio, your score will drop even though you are paying on time. Typically any time you raise or lower debt, it affects your credit regardless of payment status. Lowering your total debt ratio will positively and quickly impact it. These fluctuate often in my own personal experience based on how I'm spending borrowed money. A late payment, however, is damaging to your score for a long time. If you got another loan, hard inquiries, an old account fell off changing your credit history age, etc. Your credit card utilization, payment history, and derogatory marks have a high impact on your score with your credit age falling shortly in importance behind these.

Long story short, credit is a never ending game of life and a poor indication of borrowing ability. :)

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Still No Answer

My credit card is paid off monthly.  My car payment is paid, not only on time, but early.  My score drops by 20 points and this is the reason given:

Your balance decreased on 1 account.

Nice work! Paying down your balances could improve your score.

What??  Paying down my balances will improve my score!!??  Obviously, not!

Reply by
kristalynn81

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I just had the same thing happen to me. My auto loan was repoted late, which i disputed because it has always been ontime. That late remark dropped my score and i was not happy at all! They removed the late payment status and my credit card balances also went down, yet my score dropped 11 points instead of going up after the last uodate! What happened for it to drop, makes no sense to me?!

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why is my score dropping

Why is it my score keeps going down when i make payments on time and 90% early even when i pay more then the minimum balance so i don't understand it......

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the same problèm

I pay my 2 crédit cards at the time,i dont use thèm anymore because im loocking to pay them off..and ultimatjy my credit score drop down.!!! (?)

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