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Sunshine4Eva

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Why is my credit score gradually decreasing?
I have 2 credit cards. I dont use them every month, but when I do, I pay them off earlier than the due date. I pay the total full amount, too.
I do have a car loan. I make payments earlier and pay more than the balance being charged.
I use to have 720+ credit, and not its 640.
Would closing the credit cards help?
Would it help if I didnt pay the credit cards all at once and just make payments instead?

Please help. I hate seeing my credit decrease !!

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Top Contributor
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Do Not Close Cards!!!

Part of your credit score is based on how much total credit you have been approved for and the more you have, the better.  Don't have to use it all, but just have it available.

On your credit cards, you say you pay them early and pay the full amount.  If that means you wait until the credit card statement comes in and immediately pay the total shown almost as soon as you get the bill, that is good.  If it means you keep track of everything you charge between paydays and send that amount in before you even get the bill, or you send the total charges you've kept track of and send that in for the bill payment even if it's more than what is due.....BAD MOVE.  It may sound crazy but that damages your credit score.  You don't get the 'usage' calculated correctly and that is a factor on the score, too. When you pay the total shown on the bill, you won't be paying any interest. 

On the car loan, paying early and paying more benefits you because you may get the loan paid off faster and you'll save money by- not having to pay too much interest.  So that is a GOOD MOVE.

If you follow my advice, your score should get back to 740 or better rather quickly. 

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