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I paid off my credit card from Capital One this month. It had a $300 limit and was utilized at $279. The balance after the new statement was figured is $2.68. After it reported, my credit score went from 651 to 703. The very next day (today) it dropped to 684. The possible reasons listed on my score alert were:
I have no new late pays that would cause this. Everything is paid on time for the past several months. What might be the cause of this drop?
Did it report a $0 balance? When I pay all mine down to $0 my score drops.
It reported $2, but what I'm not understanding is it reported $2 and my score went up over 50 pts. Then the day after (no changes to credit report) it dropped 20 pts.
Did you get a specific alert for the 2nd alert? (e.g. balance increase, stati changes, added accounts, etc.)?
Lacking a specific alert, something else happened on EQ to cause a FICO drop. I would pull EQ from somewhere just to see if any accts dropped, CLDs, etc. You can rule out what SW would alert for like large balance increases, added baddies, added TLs, etc. But SW doesn't alert to dropped accounts or increased util due to small increases or CLDs. These can account for that change.
The alert just said that the score had dropped and it COULD have been caused by one of the 3 options in the previous post. None of those 3 suggestions make sense to me though. The only accounts I have are my mortgage and this credit card, so it's not too hard to keep track. I updated my score yesterday and pulled a report when I did, so EQ won't let me pull a report until late tonight when the 24 hrs has passed.