Help don't understand why credit dropped

[Anonymous]

I'm trying to rebuild my credit score and have been monitoring my credit score. I got an alert that  my score dropped 5 points. It dropped because of credit card use. I have been diligent in keeping my balance under 30% of my available credit. When my balance was reported today and caused my credit to drop, my balance was 22% of my total available credit on the card. No late charges in 5 years and one for the life of the card, 7 years. I pay the total balance of the card off every month.

Can somebody please tell me what I'm doing wrong?

Thanks,

Chad

[llecs]

Welcome to the forums! Where did you get your scores from?

[LS2982]

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@Anonymous wrote:

I'm trying to rebuild my credit score and have been monitoring my credit score. I got an alert that  my score dropped 5 points. It dropped because of credit card use. I have been diligent in keeping my balance under 30% of my available credit. When my balance was reported today and caused my credit to drop, my balance was 22% of my total available credit on the card. No late charges in 5 years and one for the life of the card, 7 years. I pay the total balance of the card off every month.

Can somebody please tell me what I'm doing wrong?

Thanks,

Chad

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What is the limit and the balance of the card?? What is the overall util % on all your cards?

[pizzadude]

FICO likes to see CC balances to be less than 10% of your total CLs, ideally reporting on one card, with the other CCs reporting zero. Try doing this and you might gain points, assuming that nothing else happens on your reports.

[Anonymous]

My limit is $2000 my balance was $445. It is currently $0 again because I  pay it every month. It is the only credit card that I have. Is there any other  suggestions to improve my credit score? I got my score from the My fico score watch.

Thanks for all the help and advice.

Chad