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Decrease in balance on credit card balance without FICO score increase

Senior Contributor

Re: Decrease in balance on credit card balance without FICO score increase

I did a small test with reporting balances on ALL my cards in May and Discover was even maxed out. This just to see the impact on my EQ Fico score. Lost 40+ points and by paying down the next month I got my points back. So you should see a jump  - good luck Smiley Happy

Move the mouse over the cards for detailed view!
....Last HP 01 NOV 2016...............
Message 11 of 16
New Member

Re: Decrease in balance on credit card balance without FICO score increase

Thanks to all for their feedback. Maybe I just need to learn patience. Today I got a score watch alert and my score increased by 8 points with no other changes being posted to my credit report. Looks like all is well. I am almost at 700 on Equifax. Yeah!!Smiley Happy

Message 12 of 16

Re: Decrease in balance on credit card balance without FICO score increase

I ran a  0 balance on both my Capitalone cards and my Orchard Bank card (now Capitalone) and I was whacked 5 points for not utilizing my cards.

I use my cards I just pay them off each month. 

 

Can anyone tell why this is?

Starting Score: EQ:633 06/2013 (FICO) TU 655 6/2013 (FICO)

Goal Score: EQ:710 06/2014 (FICO) TU 745 06/2014 (FICO)
Message 13 of 16
Epic Contributor

Re: Decrease in balance on credit card balance without FICO score increase

FICO doesn't like to see all of your CC balances at 0.  They like to see you use your credit but wisely.

Message 14 of 16

Re: Decrease in balance on credit card balance without FICO score increase

Thanks

Starting Score: EQ:633 06/2013 (FICO) TU 655 6/2013 (FICO)

Goal Score: EQ:710 06/2014 (FICO) TU 745 06/2014 (FICO)
Message 15 of 16
Highlighted
Moderator Emeritus

Re: Decrease in balance on credit card balance without FICO score increase


guiness56 wrote:

FICO doesn't like to see all of your CC balances at 0.  They like to see you use your credit but wisely.


After messing around with mine...    My sweet spot is all my CCs reporting $0 except for one reporting 4%.  YMMV, that's just what I've found to work best on mine.

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 16 of 16