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Nana4XY

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Why did my credit score drop in 24 hours?
Yesterday my credit score was X. Today it's 3 points lower. The only event that's occurred is a monthly charge of $62.05. I'm using only about 2% of my total available credit card limits. Why did my score drop 3 points in 24 hours & will the fact that I've paid the bill raise it again?

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Don't worry. Once the credit bureaus receive a report that you've paid the bill, your score should bounce back. While it's odd to lose points under the circumstances you describe (and nobody understands the secretive ways of the scoring systems), it does occasionally happen. IMHO, it's more likely to happen with a store card than with a regular Visa or Mastercard and more likely to happen with new cards than established ones.

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