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40pt drop in score with credit card purchase

New Member

40pt drop in score with credit card purchase

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?
Message 1 of 5
4 REPLIES
Established Contributor

Re: 40pt drop in score with credit card purchase

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
Message 2 of 5
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New Member

Re: 40pt drop in score with credit card purchase

Oh shoot. Ok, that makes sense. But you think that's worth a 40pt drop?
Message 3 of 5
Contributor

Re: 40pt drop in score with credit card purchase

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
Message 4 of 5
Moderator Emeritus

Re: 40pt drop in score with credit card purchase

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.
Message 5 of 5