Score went down 7points. Not happy

[Jagajaga]

I have 3 credit cards and i'm in the process of rebuilding after I had to file BK. I signed up for the Myfico scorewatch. I try to pay 2 cards off and leave a balance on one of the cards. last month my card had a $9 balance. This month I paid it off to a zero balance and I just got an alert from Myfico that my score went from 598 to 591. dropping me 7 points Why would this happen?

[StartingOver10]

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@Jagajaga wrote:

I have 3 credit cards and i'm in the process of rebuilding after I had to file BK. I signed up for the Myfico scorewatch. I try to pay 2 cards off and leave a balance on one of the cards. last month my card had a $9 balance. This month I paid it off to a zero balance and I just got an alert from Myfico that my score went from 598 to 591. dropping me 7 points Why would this happen?

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Sounds like you have zero balances on all of your cards so you took a score hit. You can fix that for next month. You have to have a small balance report on one of the cards to optimize your score.

[Scupra]

Like stated, 0% util will actually hurt your FICO because it looks like you aren't using your cards. Always let 9% or less util report on one and all others at 0. Now, remember your score is a snapshot and has NO memory. Points lost can easily be earned back next month. If you aren't planning to app for something than it's no big deal  Don't get caught in chasing points as it gets very tiring.

[ezdriver]

Ditto on what Scupra said.

[Jagajaga]

I'm trying to app for navy fed in October once my lien on my report falls off and my cards are a year old. That's the reason I'm trying to get my scores up. I've had a navy fed card stuck at 500 with no increases. I was hoping I can be at the mid 600s by then. That's why I'm frustrated.

[04Cobra]

Give it time. Once the lien falls off, your score should rise. Make sure you have 1 card showing a balance of less than 9% with the other 2 showing a 0 balance around September

[Scupra]

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@Jagajaga wrote:
I'm trying to app for navy fed in October once my lien on my report falls off and my cards are a year old. That's the reason I'm trying to get my scores up. I've had a navy fed card stuck at 500 with no increases. I was hoping I can be at the mid 600s by then. That's why I'm frustrated.

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What will you be applying for? A 2nd NFCU card? Navy will show you luv after some time with them. I know it seems like everyone on the forums wakes up and gets $20k limits from them but it takes a bit of time with a BK. I started with a $500 secured nRewards and look where i am at now Good luck