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Contributor

I got a credit card at a younger age and didnt really take it seriously. Now, im trying to pay it off while also bringing my credit score up.  I know being consistent will help, but what about paying it several times throughout the month instead of once? Will that affect me in any bad way? Also, on 4/8/20 my score was 623, i made a payment on 4/14/20 and when i checked today (4/16/20) is was 552. How is  it possible that it would go down and that drastically?

3 REPLIES

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@M.M, we appreciate you posting in our Member Community with your credit score questions. It would be best to present those question to a reporting agency that specializes in the scoring process. We do the reporting but can't advise on what would cause a decrease or increase. A good start would be to get an updated copy of your credit report @ www.annualcreditreport.com. They would be a good recourse for the answers to your questions. We do have lots of advice tools on usaa.com also. Feel free to visit the " advice " Tab as there are some articles that may help provide guidance on building a positive credit profile and managing debt. I hope that helps. Thank you. ~ Suzy

Depending on the credit bureau a change in your balance from what I noticed will sometimes subtract from your score even though the change is a positive change that is your balance going down I believe that the object algorithm that is monitoring the changes look for keywords in comments it makes a decisionNow if the change was substantial such as let’s say a decrease in your overall balance of say $600 then your score will improve what I’ve noticed is if the number is minor like say $150 sometimes your score may go down but then it’ll go back up in like a couple weeks and I’m strictly talking about Fico since the Phico scores are generated as they are requested
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The information from your credit reports is based on your credit card statement.  Creditors do not report to the credit bureaus everytime there is a payment or debit to the account.  If you make two or three payments on the card before the statement is generated that statement's due amount will reflect those payments in a smaller due amount.

It's highly unlikely a payment made on 4/14 would be reflected on your credit score in two days.  There's something else going on.  Check your credit report.