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Understanding FICO® Scoring

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Wckd79
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Wckd79
Posts: 2
Registered: ‎03-05-2013
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40pt drop in score with credit card purchase
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‎03-05-2013 06:20 AM

In a matter of 2 weeks my fico score went up from 707 to 722 then down to 687. The only alert I got was for a increase in a Macy's card balance. Which was paid off on time. No late fees or payments. I don't get it. Why did I get hit with a 40pt hit?
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Simply827
Posts: 936
Registered: ‎10-15-2012
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Re: 40pt drop in score with credit card purchase
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‎03-05-2013 06:37 AM

It sounds like you didn't pay your Macy's bill before the statement came out. Therefore the account reported with a high balance and you lost points for utilization.

Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+
Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
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Wckd79
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Wckd79
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Registered: ‎03-05-2013
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Re: 40pt drop in score with credit card purchase
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‎03-05-2013 11:09 AM

Oh shoot. Ok, that makes sense. But you think that's worth a 40pt drop?
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cabronsaim
Posts: 137
Registered: ‎03-28-2012
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Re: 40pt drop in score with credit card purchase
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‎03-05-2013 11:32 AM

That depends in how much of your total Util are you using on all of your CC's , and yes, its very possible.
3/30/12: EX: 680 TU:667 EQ: 655
4/14/12: EX: 680 TU:678 EQ: 670

BOFA: 0/1k / CAP1: 0/1.75k / CITI: 700/2k / AMEX Gold:NPSL
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Shogun
Posts: 14,122
Registered: ‎04-15-2011
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Re: 40pt drop in score with credit card purchase
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‎03-05-2013 09:39 PM

You can see some significant changes due to util changes.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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