My credit score took a hit

So I have two American Express cards with very high limits. Due to an unexpected event, I maxed them out, but paid them off in a few weeks - one before the statement date. My score dropped 100 points. Even though it’s still high. I have never been late on anything, and have no mortgage or car payment. I’m wondering why it won’t go back up as fast as it went down.

When I paid off my house, my score dropped.
When I paid off my car, my score dropped.

To me, I’d be a good credit risk because I don’t have those bills anymore, but instead, the weird math algorithm of credit scores drops you.
Many months after each event, the score rose again, but never to where it was.

Charges are reported when the billing period closes. If you pay the charges off before the billing period closes, i.e. before you receive a statement with the purchase listed, you would likely see little effect on your score. However, if you receive the statement, and then pay them off before the due date, you will get dinged for using 100% of the available credit because you paid after it was reported to the credit bureaus.

How long has your score remained lower? The credit card company reports new balances monthly. I have seen estimates of up to 2-3 months for the credit score to revert to prior levels.

If you’re not planning to apply for a loan does it matter? I’m simply asking your opinion. I recently cancelled a credit card. As a result my credit score dropped. Doesn’t really affect me since I have no plans to apply for a loan, and my credit score is still in the 800’s. Thoughts?

In some cases credit scores can be a considered in insurance, employment or housing decisions. A score in the 800’s would be “welcome” for those situations.