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Balance decrease dropped my score?

New Visitor

Re: Balance decrease dropped my score?

Same crap just happened to me. I'm trying so hard to build up my score after finding out it was 630, all because of ONE fail to pay that I didnt even know about from years ago. So I pay all my credit cards off and it drops to 580... I feel robbed...  I left all 3 with a small 1-3% balance this month AND got another CLI, we shall see what happens.

New Visitor

Re: Balance decrease dropped my score?

Just had the same thing happen to me, made CC payment, get notice: "The balance on one of your credit cards has decreased by $3476" - Old balance was over $4K - New is about $650

 

Score down 17 Points!!

 

No change in credit limit. **bleep**.

Super Contributor

Re: Balance decrease dropped my score?

There is not necessarily any causal relationship between (a) the information reported in a MyFICO alert and (b) a score change noted on the alert.
FICO8 EQ 725 TU 750 EX 717 Total revolving credit 443500
New Visitor

Re: Balance decrease dropped my score?

Same thing happened to me.  No increase/decrease in credit limit.

And it was more consistent - my balance went from 0 (zero) to $257 (on my Amazon Chase card, $6000 limit), and my score went up by 32 points.
Then, later the same week (literally 24 hours later), the balance went from $257 to 0 and my score went down by 32 points.

I have one other credit-line (a secured Capital One card, with no recent activity on that).

 

4/20/2017 Equifax The balance on one of your accounts has decreased by $257 DOWN 32
4/20/2017 Equifax The balance on one of your accounts has decreased by 100% DOWN 32
4/19/2017 Equifax The balance on one of your accounts has increased by $257 UP 32
4/19/2017 Equifax The balance on one of your accounts has increased by 100% UP 32

I cannot see a logical reason why those events would cause such changes.

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Valued Contributor

Re: Balance decrease dropped my score?

When all of your revolving accounts report zero, your score will go down. For scoring purposes, FICO likes to see a small balance (between $5 and 8.9%) on one card.

 

The caveat here is Chase. They report mid-cycle when you pay to zero. That's generally a good thing unless it's your only card reporting a balance. The easiest thing is to let a non-Chase card report the small balance.