Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 75
Registered: ‎08-27-2016
0

Credit score dropped after balance dropped in credit card

My transunion dropped 4 points today and my experian 10 points sometime ago because i paid part of my balance

 

$376 to $364

 

Current balance on cards

Amex: $295

Discover: $57

Visa: $12

 

Is this normal ? my Uti is at 5%


Starting Score: EX: 713 EQ: 698
Current Score: TU: 727 EQ: 722 EX: 733
Goal Score: 775





TCL: $6,100
Frequent Contributor
Posts: 462
Registered: ‎05-11-2015
0

Re: Credit score dropped after balance dropped in credit card


Isacking97 wrote:

My transunion dropped 4 points today and my experian 10 points sometime ago because i paid part of my balance

 

$376 to $364

 

Current balance on cards

Amex: $295

Discover: $57

Visa: $12

 

Is this normal ? my Uti is at 5%


 You assume that it dropped because you got an alert from MyFICO, right?

 

 The credit score and the alert are NOT related;  They are independant of each other.  Think of it this way:  "Hey Lsacking97, we were glancing at your credit report and noticed that your total balances dropped by $12.  Oh, and by the way, your current score is {x} in case you were wondering."

 

  The score change could be for any number of reasons.  Did you apply for a new card?  Did you get a credit line decrease?  Did you move recently?  There are many changes to your report that MyFICO does NOT provide alerts for, which is why when something that it monitors DOES happen, you can get a contradiction between the alert and the score change.

 

  I once had a 12 point RISE at the same time I got an alert that my balances had gone up by $1,200!  After a little digging, I realized a few inquiries had aged over 1 year.

EX08 726 EQ08 707 TU08 736
Valued Contributor
Posts: 4,263
Registered: ‎04-11-2016
0

Re: Credit score dropped after balance dropped in credit card

Dalmus is correct here regarding the alert and score change not being related.  Well put the way you explained it as well!

Established Contributor
Posts: 1,028
Registered: ‎08-12-2012
0

Re: Credit score dropped after balance dropped in credit card


Isacking97 wrote:

My transunion dropped 4 points today and my experian 10 points sometime ago because i paid part of my balance

 

$376 to $364

 

Current balance on cards

Amex: $295

Discover: $57

Visa: $12

 

Is this normal ? my Uti is at 5%


In addition to the fact the 4 point drop could be unrelated to the balance drop...it could also be that this month the 364 dollars is on 3 different cards. Was it all on 1 card last month, and how many cards do you have?...If you only have 3 cards, it would have 100% of your credit cards to be reporting. 



TU fico08=817 3/24/17
EX fico08=809 3/24/17
EQ fico08=818 3/24/17
In the Garden until 2/11/2017
Garden since 8/11/2016


















Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.