My credit score tanked after I bought a $700 inflatable hot tub

I saw a sale online and thought it would be a fun way to relax, so I put it on a store card I rarely use. The new high balance on that single card dropped my score by 40 points because it messed up my credit utilization. Has anyone else had their score drop from a single silly purchase like that?

2 comments

2 Comments

kelly.keith19h ago

Ugh, that's rough but actually pretty common. @jamie_clark is mostly right, but it can take a full billing cycle or two for the score to fully recover after you pay it. Just keep using that card lightly and pay it off.

jamie_clark20h ago

Honestly that seems like a weird system. Your score should bounce back pretty quick once you pay it down.