No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi Everyone.
Just wondering what you make of this. I received notification this morning from SW that I had a score change (are you like me, almost afraid to look, wondering which direction it means!). It was a score increase from 712 to 717! Obviously, I was VERY thankful, as I have been on a major rebuild campaign over the past 18 months or so, following an ugly time in our lives. As a side note, I did receive the myFICO upgrade to the 08 model about a month ago.
What shockedme is what when I looked at the alert of the score change, it said that it was from a 100% balance increase on a credit card. I charged $24 on a credit card that had been $0 balance for the past year or so. I just used the card for the one transaction, thinking that I should at least show that I am still alive to that creditor.
I know that when it comes to scores, it is usually best to have one card show a balance and the others be $0, so this really confuses me. This meant that I had one less card showing $0 balance. I do have two other cards with balances. Have you ever heard of a 5 point jump because a card that had been $0 was used for a small transaction? It makes me wonder if maybe something else changed on my credit report?
Appreciate any thoughts - and most importantly, for all the support when I have been through this rebuild!
Thank you Revelate!
Well, let me add my two cents to this thread: I have my WF secured card that I always try to keep at 10% util. Other CC has been a 0 bal for a while. Two weeks ago, I used my Dillards for a purchase and myfico score DROPPED 10 points! SW indicated a "dormant card (8 months since I used it) was showing a balance"! I was VERY upset, paid it in full , and will be waiting to see if I get my score to rebound. I sometimes feel I cannot win! Trying to be responsible, no lates, pay well before due dates, and because I didn't look at the calendar closely enough to beat this one before it reported last month, I get dinged. Oh well... now that I've ranted, carry on srchick.
Should be fine srchick: don't worry about the vagaries and ups and downs of minor balance changes: focus on the long term and simply put lipstick on the pig when it comes to application time. It's a much happier existance than worrying over every dip in one's FICO score.
I'll keep that in mind, Revelate. Although sometimes it's hard to concentrate on the long term effort, I feel better when I review the "past history", and can see from where I actually began. Just have to keep working on everything so one day soon I can post: "I MADE IT PAST THE 700 CLUB"! (It will happen!)