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andya41

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Why do credit scores go down?
I had scores of 800 and 803 a week ago. The only thing I did was pay off some accounts. My credit report shows a zero balance but since last week, one score fell 30 points and the other fell 35 points. There are no credit inquiries or anything out of line. So why would the scores fall and not go up? I'm perplexed!

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Remember that Credit Scores were invente

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by the lenders and banks.  They like it when you owe money and they are able charge interest on the accounts.  When you pay off accounts the system doesn't like it. Thats why your score dropped.  In reality, your score changes every time you charge something on your cards or make payments, It flucuates all the time.

Don't worry about it.  You score should bounce back in a few weeks. In general any score over 750 is treated the same as if it were 800, so there isn't any real change to your score.  The actual number isn't as important as the bracket your score is in.

Hope that helps.

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