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Question By
trusso11783

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1 Person Helped
Why is my score dropping?
I had an 850 combined score until Nov 2011 when I sold my house as a short sale. Within a few months, my score was 704. I applied for a mortgage last summer and the score went down to 702. I paid off a $4000 car loan to have less debt for the mortgage and the score went down to 700. It has held there until the other day when it dropped to 698. I use my credit card every month for gas but never carry a balance over to the next month. According to Credit Karma, my score is a C, because I have a high utilization of credit card debt. I dont understand. I have $67,400 or credit and am using $204. Wouldnt that cause my score to be higher? See below.

Credit Card Utilization 0%
Open Credit Card Debt $204
Credit Card Limit $67,400
Open Credit Card Debt $0

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3 Contributions
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Of course I understand what I am writing. I am writing it. I had an 850 score. Short Sale brought it down to 704 where it remained until last June when I was trying to get a mortgage. The queries brought it down to 702. I had a $4000 car loan on there and paid it off thinking it would bring my score up but my score stayed at 702. Since then, I use a credit card all month for gas and online purchases but I pay it in full, on time, every month. For some reason, my score went down to 698. My question was why would it go down when I have a perfect payment record every month?

I simply copied and pasted those numbers above. If they are incorrect, it is Credit Karma's error. I was wondering how I have a 0% usage if I have a balance. Makes no sense to me.

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Short sale killed it for starters..... Also how can you have a CCU of 0% if you have $204 charged on one? Maybe I'm not understanding what you are saying or you don't fully understand whay you are writing......

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