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Utilization question HUGE drop

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jwpezd
Regular Contributor

Utilization question HUGE drop

I got a score watch alert that my scor dropped from a 621 to a 585!!!!! The only thing that changed is I have a cc that has a 500 limit that was reporting a 115 balance. It got to 269 balance. I paid it in full unfortunately it just got reported at 269. Can that jump in utilization on a low limit card Hirt me that bad almost 40 points?!?!? All other bills are current by the way.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Message 1 of 6
5 REPLIES 5
omskillet
Regular Contributor

Re: Utilization question HUGE drop


@jwpezd wrote:
I got a score watch alert that my scor dropped from a 621 to a 585!!!!! The only thing that changed is I have a cc that has a 500 limit that was reporting a 115 balance. It got to 269 balance. I paid it in full unfortunately it just got reported at 269. Can that jump in utilization on a low limit card Hirt me that bad almost 40 points?!?!? All other bills are current by the way.

The short answer is yes that simple difference can cause that big of a score drop. When you have a low limit the balance posted has major impact. It will bounce back next month if you get it back down.

Message 2 of 6
jwpezd
Regular Contributor

Re: Utilization question HUGE drop

It is at zero just hard to see that happen. I have been working hard to get it in the 600's and thought I would never see the 500's again.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Message 3 of 6
2NE1
Established Contributor

Re: Utilization question HUGE drop

Unfortunately SW won't alert you once your util goes down to 0%.
Message 4 of 6
Booner72
Senior Contributor

Re: Utilization question HUGE drop

To really know, you need a new copy of your credit report to see if anything else changed.  But yes, it's possible to lose some points for utility - that's over 50% utility that reported.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 5 of 6
jwpezd
Regular Contributor

Re: Utilization question HUGE drop

Some points? I understand a few. But almost 40??
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Message 6 of 6
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