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Question By
ym1993

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why did my scores drop 80 points???
Hi everyone I got my first credit card in Jan 2015 and i have a 100% payment history. my score was around 720 last month until I applied another credit card, it suddenly dropped 30 points and today when I checked, for some reason, it dropped even more, now i have a credit score of 640???? i used my second credit card, but i paid them in full even before due date, I always pay my balance in full before due date, never missed a payment, why is this happening? what should i do? thank you very much!

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equifax drop by 80 points

I took out a new card to get 0% for 12 mo. for a new computer. In the process my equifax dropped 80pts. and Trans U. went down by 50pt. No slow pay no high debt keep it at about 7% of total available, all but one card is paid in full every month. Any Ideas?

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Did a high balance get reported to the credit bureaus for your credit card before you paid it off? High utilization can cause a big score ding. I advise you to follow your FICO scores in addition to any non-fico scores that you follow during your credit building process.

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wondering128

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Thanks anyway.                                                    

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