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why? let my CC balance get a little high, lowered score 2 pts. paid it offm and it dropped 8 pts?

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JJ68
Visitor

why? let my CC balance get a little high, lowered score 2 pts. paid it offm and it dropped 8 pts?

 
Message 1 of 4
3 REPLIES 3
LShawn08
Frequent Contributor

Re: why? let my CC balance get a little high, lowered score 2 pts. paid it offm and it dropped 8 pt

If that was your only card reporting a balance your overall UTI is 0% which Fico doesn't recognize as a "good" thing. Though no debt OF COURSE IS A GOOD THING! It's just a weird aspect of the Fico algorithm. Leaving a small balance on one card apparently fixes it. Just the other day CreditKarma docked me 2 points for letting my CapOne card report $7.95. No telling what my actual Fico score did. 

Starting Score:TU:791(Dec3), EX:783, EQ:000
Current Score: TU:786(Aug9), EX:776, EQ:782 (Aug8)
Goal Score:820 across all boards






If all pork chops were perfect, we wouldn't have hot dogs! -Steven Universe
Message 2 of 4
takeshi74
Senior Contributor

Re: why? let my CC balance get a little high, lowered score 2 pts. paid it offm and it dropped 8 pt

To determine the cause(s) of any scoring change you have to carefully review reports from before and after the change.  Your accounts do not instantly report.  Your reports don't instantly update when your creditors report.  Confirm that the updated balances have reported before you assume a causal link.

 

Without knowing everything that happened on your reports we can't answer your question.  While revolving utilization does have a signfiicant impact is not the only data change with a possible scoring impact.  Again, you need to carefully review your reports and ensure that you're accounting for all changes with a scoring impact.

Message 3 of 4
StartingOver10
Moderator Emerita

Re: why? let my CC balance get a little high, lowered score 2 pts. paid it offm and it dropped 8 pt


@LShawn08 wrote:

If that was your only card reporting a balance your overall UTI is 0% which Fico doesn't recognize as a "good" thing. Though no debt OF COURSE IS A GOOD THING! It's just a weird aspect of the Fico algorithm. Leaving a small balance on one card apparently fixes it. Just the other day CreditKarma docked me 2 points for letting my CapOne card report $7.95. No telling what my actual Fico score did. 


Agree with LShawn08 above ^^^.

 

Don't look at those CK scores, they are not indicative in any way of what your actual FICO scores are...my CK scores are 83 points (yes you read that right) lower than my FICO scores....

 

Only thing that CK is good for is checking balances on accounts and even then some of them lag big time from what I can see (Synchrony Bank, I am talking to you). 

Message 4 of 4
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