Equifax Credit Score dropped!

Votrereux · ‎07-11-2008

I was wondering if anyone knew why paying off a credit card would make your Equifax Fico score drop? I paid of my credit card and my Transunion and Experian Fico Scores increased considerably; I have no late payments and no inquiries! However, my equifax Fico score dropped 10 points as a result off paying of my credit card balance. I just wanted to try and understand.

Thanks

Message Edited by Votrereux on 07-11-2008 11:01 PM

Anonymous · ‎07-11-2008

Votrereux wrote:
I was wondering if anyone knew why paying off a credit card would make your Equifax Fico score drop? I paid of my credit card and my Transunion and Experian Fico Scores increased considerably; I have no late payments and no inquiries! However, my equifax Fico score dropped 10 points as a result off paying of my credit card balance. I just wanted to try and understand.

Thanks

Message Edited by Votrereux on 07-11-2008 11:01 PM

Did you pull a report and look for any other changes? Did you receive an alert from SW? If so, what reason did it give?

frugal · ‎07-12-2008

Votrereux, Sidewinder is giving could advise. The changes can be so slight and it can make a difference.

It happen to me and I had literally print out a history of the previous month and the current CR and sure enough...there was a change.

Don't get discouraged, just keep plugging away. IMHO, you did a good deed regarding the CC. Just keep your UT down on that card and all cards.

I know it can be fustrating. IHowever, it's like losing weight. You made a decision to get in shape and lose weight. You know you are eating correctly and working out and yet the DERN scale isn't showing any weight lost. Just remember, you may be losing bodyfat rather than weight (muscle weighs more than fat) and that my friend is always a plus; eventhough, the "3" (weight just like fico scores) numbers doesn't show it, you are making an impact. I didn't mean to turn this into a Health Forum, but I just wanted to give you another way to look at it. You are going in the right direction for a healthy financial future.

Keep us posted.

Message Edited by frugal on 07-12-2008 06:07 AM