Wrong Balances on Credit cards reported.

[Anonymous]

I need some advise.  While trying to rebuild my Fico scores, I was doing very well.  However, this morning, I recevied a notification that my score had dropped 10 point on all bureaus because my credit card balances went up.  At this point my cards are at $0.00. Infact to make sure no one was using my cards I called my three CC company to verify. They all answered that I have a zero balance. How can I get my points back??

[Themanwhocan]

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@Anonymous wrote:

I need some advise.  While trying to rebuild my Fico scores, I was doing very well.  However, this morning, I recevied a notification that my score had dropped 10 point on all bureaus because my credit card balances went up.  At this point my cards are at $0.00. Infact to make sure no one was using my cards I called my three CC company to verify. They all answered that I have a zero balance. How can I get my points back??

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Get exactly one credit card to report a few dollars.

http://ficoforums.myfico.com/t5/General-Credit-Topics/How-do-I-play-the-1-9-Utilization-Game-Please-Help/m-p/2471257#M199479

[Anonymous]

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@Anonymous wrote:

I need some advise.  While trying to rebuild my Fico scores, I was doing very well.  However, this morning, I recevied a notification that my score had dropped 10 point on all bureaus because my credit card balances went up.  At this point my cards are at $0.00. Infact to make sure no one was using my cards I called my three CC company to verify. They all answered that I have a zero balance. How can I get my points back??

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Welcome to the forums.  Ignore the reason listed for the points drop.  There is no correlation between an alert and your score.  The reason your scores dropped is because all of your balances are reporting zero.  I know it's counter intuitive but the FICO 08 scoring model punishes you if all CCs report $0.  You want one of the cards to report a small balance and the other two  can be at $0.  Your points will return when this happens.   Hope this helps.

[NRB525]

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@Anonymous wrote:

I need some advise.  While trying to rebuild my Fico scores, I was doing very well.  However, this morning, I recevied a notification that my score had dropped 10 point on all bureaus because my credit card balances went up.  At this point my cards are at $0.00. Infact to make sure no one was using my cards I called my three CC company to verify. They all answered that I have a zero balance. How can I get my points back??

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What was the notification that your card balances had gone up? Which source?

[Anonymous]

Thank you for your qucik response and for welcoming me to the forum.  As for the balances on my 3 cards. I have used them to keep the systemin positve for that same reason. I had previously been told that my score would run the risk of coming down if I didnt use my cc. However, I was advised by as to what days and or dates the CC company report to the bureaus, so I have been paying the cards in full before they report a change. Is this not a good idea? I.E. I use my card from start of month and pay by the 25th because they report on the 29th of each month. Did i do the wrong thing here. Im trying to get a mortgage loan approval this month.

[Anonymous]

Yes that my scores had gone up and the sources were Transunion and Equifax..  The notification came from myfico.com

[Anonymous]

SOrry not my scores but my balances.... 

[too-much-time]

What's the exact wording of myFICO saying your balances went up? Welcome from me as well.

[Anonymous]

"The balance on one of your accounts has changed by 100%"      -10 points.    

[Anonymous]

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@Anonymous wrote:

"The balance on one of your accounts has changed by 100%"      -10 points.    

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That doesn't mean balances went up.  The reason you lost the points is because of what I pointed out before.  They will return very quickly so I wouldn't stress too much over this.  Credit scores will fluctuate all the time and you will have ups and downs but overtime they will go up or down based on how you use and pay the cards. If you get too hung up on minor ups and downs you'll drive yourself crazy.