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GoodRIDDANCEdebt

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Why did my score decrease 20+ points AFTER paying off credit card?
Score was hovering around 745 and 720 for months. I was carrying over 50% of available credit on a "no interest" big box home improvement card and decided to pay it off in a lump sum so I could sleep better at night. The update immediately AFTER paying the card off my score dropped 20+ points on both Equifax and Transunion. I don't see other factors that should have negated this payoff which I thought would have a positive impact on my credit. Question 1 is why did this happen? Question 2 is I'm curious if there's anything I can to to increase the score? I'm about to apply for a refinance of some investment property.

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It really doesn't make any sense. I advise that you check your FICO scores, don't pay much attention to the Vantage scores.

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