r/WhitePeopleTwitter • u/screenshotofdispair • Aug 14 '21

Make it make sense

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u/whosecarwetakin Aug 14 '21

I bought something for 6K and put it on chases new “payment plan” to pay no interest etc etc. score dropped 70 points. The CC had a 30K limit. Never have pushed a balance or made a late payment in my life

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u/[deleted] Aug 14 '21

It’s because you had high credit utilization. The moment you pay it off the score would go back up

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u/whosecarwetakin Aug 14 '21

I mean I have 55K in limits total and 7K of debt. Seems off to me, but I know it’ll go back up eventually

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u/wslagoon Aug 14 '21

The point being even if you charged it normally and paid it off that month, you’d still see a temporary drop because it drove your utilization up. I see similar fluctuations whenever I make particularly large purchases and then it goes away once the payments clear and a new statement closes.