Large Drop in Score

[Lisie_52]

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?

[tagteam · Accepted solution]

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

[cgervasi]

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@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?

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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.