Experian dropped my FICO score for a $1 balance DECREASE???

[Anonymous]

This is crazy.  

I just got an alert from MyFico of a balance change Experian deteced. 

I logged in to see the detail - a $1 decrease on a credit card account (I believe it was a simple adjustment).  But the result triggered a 22 point decrease in my Experian FICO score!

This is the largest drop I've seen since I started monitoring my activity, and I don't understand why this is such a large drop for something so innocuous.  

I've filed a request from Experian for help or an explanation, but have no idea (or confidence) it will help at all.

Advice, please!!!  Thank you!!

[Anonymous]

Sounds like something else popped up causing your extreme score drop...just speculating. Do you have access to your updated reports..??

[Anonymous]

I've got access to my reports and am paying for credit monitoring from MyFICO.  The "alert" was the $1 decrease, and the 22 point drop is showing as tied to the change.  Utilization rate is 0% on the account.  

I just don't understand.

[DollyLama]

The balance change caused the alert. The points on the score is not necessarily from this transaction. You need to pull your EX report, the free annual, or do a $1 trial with Credit Check Total, and see all your reports and true FICO scores. A collection may have added to the account, or any number of other things affecting it. Just be sure to call the automated line within a week to cancel. 

[DollyLama]

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@Anonymous wrote:

I've got access to my reports and am paying for credit monitoring from MyFICO.  The "alert" was the $1 decrease, and the 22 point drop is showing as tied to the change.  Utilization rate is 0% on the account.  

I just don't understand.

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Are all CC's reporting a balance of 0%? That will drop you. Only one card should show a balance reporting, and with that balance should be <8.9 % of the total CL.

[Anonymous]

DollyLama, yes at the moment, utilization is at 0% across all cards - I thought that would be a good thing!  

I did do an EX free report - no surprises, everything in order as expected.

Thank you for the very specific feedback, much appreciated.

[Anonymous]

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@Anonymous wrote:

I've got access to my reports and am paying for credit monitoring from MyFICO.  The "alert" was the $1 decrease, and the 22 point drop is showing as tied to the change.  Utilization rate is 0% on the account.  

I just don't understand.

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The only way the $1 decrease would result in a 22 point drop would be if the card was now reporting $0 and all other revolving accounts are also (already) reporting $0.  All $0 reported balances on all revolvers results in a score drop and around 22 points is possible.

If you DO have a positive balance reported somewhere on some revolving account currently, you did not receive a 22 point score drop due to a $1 decrease on your one account.  As stated above, the balance change results in an alert which shows you your current score, but the score change more often than not has nothing to do with the alert.

[medicgrrl]

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@Anonymous wrote:

DollyLama, yes at the moment, utilization is at 0% across all cards - I thought that would be a good thing!  

I did do an EX free report - no surprises, everything in order as expected.

Thank you for the very specific feedback, much appreciated.

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I feel your pain.  I'm patiently waiting for a card to report a balance next week so I can get my points back.  

[SouthJamaica]

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@medicgrrl wrote:

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@Anonymous wrote:

DollyLama, yes at the moment, utilization is at 0% across all cards - I thought that would be a good thing!  

I did do an EX free report - no surprises, everything in order as expected.

Thank you for the very specific feedback, much appreciated.

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I feel your pain.  I'm patiently waiting for a card to report a balance next week so I can get my points back.  

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Yes I just did that.

I dropped my balances to zero.

TU FICO 8 lost 9 points and EX FICO 8 lost 13.

When I added an $8.69 balance, TU went back up 9 and EX went up 16.