My score dumped 90 points (from excellent to good / fair level overnight.
I checked and I had missed a $200 payment for 30 days to a credit card which I rarely use and apparently had balance there that I didn’t remember. Also my credit card balance usage level went from like 1% to 18%.
Those two were the only changes. Is this a normal thing? What can I do about it?
I immediately paid that unpaid balance and even paid off that 18% utilization of my CC balance down to 0. I feel like there has to be something wrong.. I can’t wrap my mind around 90 points. I am not in collections of any kind. I don’t have balances on my credit cards or bills are past due. I am pretty good at being ontop of my finances (except this mishap)
what do you think about this and can this be corrected somehow ?
thank you
Missed and late payments will always drop your score like a rock and quickly.
I paid a car off a few months ago and my scored plummeted 77 points. Since then it’s only come back up about 50.
So just get back to paying regularly and it’ll come back up over 6-7 months.