Went down 23 points. Why?

[dodfire]

Scott is correct. Even though you paid in full the balance before it was due...that does not mean that they did not report it when there was a balance on there. If this is your only card and this is a low limit card your utilization could have been through the roof!! That would certainly cause a big drop in your score. 

[Anonymous]

Crazy business

[guiness56]

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@Anonymous wrote:
Shweeeettt baby Jesus! How did I not know that?
So much work to get to 626 with only 1 CC and I'm going down with it.

Thanks for the info guys, it makes sense. Now I'll pay attention to the report date and make sure I have no balance

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If it is your only card you need to let it report a small balance.  FICO does not like to see all CC report 0.  They like to see you use your credit but wisely.

[Katheryne88]

That all makes sense now. I just checked and they report on the 6th of each month
I was reported with a 70% credit to debt ratio
Bad bad bad ideaaaaa.... I worked so hard to get to 626 with only ONE CC that's insane work and I let slip like that.

Thanks guys.. Now I know I'll leave some usage reported every month.

[dodfire]

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@Katheryne88 wrote:
That all makes sense now. I just checked and they report on the 6th of each month
I was reported with a 70% credit to debt ratio
Bad bad bad ideaaaaa.... I worked so hard to get to 626 with only ONE CC that's insane work and I let slip like that.

Thanks guys.. Now I know I'll leave some usage reported every month.

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Just keep an eye on it around the report date now that you know what to look for. 

Here is the good news:

Your score does not remember your UTL% so, get your balance down before your next report date.... Do not pay off the card to a $0 balance. Leave a few dollars on it. FICO seems to like 1%-9%.

Your score will go back up, thats the optimal time to app for another card.

The worse thing that happened here is you have to wait a month to see your score come back up.

[Crossdivided]

Pay it down to less than 10% and ask for a 'mid cycle update'. They may or may not do it, but they CAN do it. That's just an update to CRAs before the regular reporting day.

[Anonymous]

Reaally Crossdivided?
Good news right there

[percy81]

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@Katheryne88 wrote:
That all makes sense now. I just checked and they report on the 6th of each month
I was reported with a 70% credit to debt ratio
Bad bad bad ideaaaaa.... I worked so hard to get to 626 with only ONE CC that's insane work and I let slip like that.

Thanks guys.. Now I know I'll leave some usage reported every month.

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Just PIF before your next statement cuts and you should get some of your points back and gradually the rest will come back!