Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
wantgdcredit

0 Contributions
0 People Helped
why did my credit score go down
I just paid off a bunch of bills I paid off a mortgage I paid off a car loan now I did buy another vehicle and applied for a credit card but why would my credit score go down I haven't changed or missed any of my current payments I mean is bad to get another card or buy something else cause you paid the other one off I mean I haven't changed the way I operate

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
3051 Contributions
2791 People Helped

Anytime you are pay off and close accounts it affects your score in a negative way.  Same with applying for new credit.  To learn about how your score is calculated, please visit www.myfico.com.  When accounts are closed, it means that amount of credit is no longer calculated into your total utilization, which is 30% of your score.  You probably need to replace the closed accounts with some new open credit lines, but I can't say for sure without seeing your full report.  For some great advice for your specific situation, please visit www.credit.about.com.  Best of luck!

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.