I paid off my CC the other day, thinking it would raise score significantly (as it had in the past) and to my horrible surprise, my FICO dropped by 25 points.You jumped the gun. If you paid off your card the, AND checked your score the other day, the CRAs had no idea that your card was paid off yet. You may have to wait weeks - even months. Actually, it may NEVER get reported. It's entirely at the discretion of the lender to report data to the CRAs. In the process of buying my house, current credit reports showed debts owed to credit cards that had been paid off for months - literally. I just had to cross out the debts shown on the report, and replace them with zeros. Your score could have dropped for any number of reasons (did you close any accounts?), but I would venture to say it had nothing to do with you paying off your card. Did you order a credit report too, or just a FICO? If you got a credit report, check the balance it shows on the account you paid off.
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