Solved: Large Drop in Score
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Large Drop in Score

my credit score decreased 43 points and the only thing that changed was that I paid more than the minimum on my credit card.  The utilization went from 8% to 3% on a 20k credit limit.  Why such a large drop, or that I have a decrease at all?

1 Best answer

Accepted Solutions
Level 15

Large Drop in Score

Have you checked your score after signing up with Turbo? --> https://turbo.intuit.com/

 

You can get all of your free credit reports from the site below.

 

https://www.annualcreditreport.com/index.action

 

 

View solution in original post

2 Replies
Level 15

Large Drop in Score

Have you checked your score after signing up with Turbo? --> https://turbo.intuit.com/

 

You can get all of your free credit reports from the site below.

 

https://www.annualcreditreport.com/index.action

 

 

View solution in original post

Level 3

Large Drop in Score


@Lisie_52 wrote:

my credit score decreased 43 points and the only thing that changed was that I paid more than the minimum on my credit card.  The utilization went from 8% to 3% on a 20k credit limit.  Why such a large drop, or that I have a decrease at all?


You went from owing $1600 to $600, i.e. 8% to 3% of 20k.  Maybe their formula likes you to have a modest amount of utilization, not nearly maxed out but not nearly empty.  That's just a guess.  It makes no difference..  What matters is not carrying a balance and building wealth.

v
Privacy Settings