cancel
Showing results for 
Search instead for 
Did you mean: 

Extreme Score Drop

New Visitor

Extreme Score Drop

Hello,

I recently made a $40 purchase on a credit card and paid the bill when it came in. When the charge registered with FICO, however, it dropped my score by 30 points! I contacted customer service, but they just gave me a speech about the formula and charges not registering for 30 days, etc. The response was concluded with a somewhat condescending reminder to "pay my bills on time". As my record reflects, I am very punctual when it comes to paying bills. Is it normal to see such a steep drop after making such a small purchase? I charge more than that when I use my cards typically, so I don't understand how $40 has taken me from a good credit score to a dismal score.

Message 1 of 9
8 REPLIES
Valued Contributor

Re: Extreme Score Drop

How many of your credit cards are reporting balances above $0?

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 2 of 9
Member

Re: Extreme Score Drop

Hi I have the same problem I paid in full my credit card and my balance was reported $ 0 why FICO DROPPED my score? I thought if your balance are $0 we have good credit record
Message 3 of 9
Moderator Emerita

Re: Extreme Score Drop

For scoring, you should have 1 card report a balance of 1-10% total util
Message 4 of 9
New Visitor

Re: Extreme Score Drop

2 of 4, but I'm not even close to being maxed out. 

Message 5 of 9
Highlighted
Valued Contributor

Re: Extreme Score Drop


Meeradal wrote:

2 of 4, but I'm not even close to being maxed out. 


I don't think its the actual number, but the percentage.  There are other people who have experienced similar drops when 50% of cards were reporting balances, regardless of the actual utilization.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 6 of 9
Member

Re: Extreme Score Drop

So FICO is not company we could trust? Because if your paid your doubt to try save money after take all your credit down to zero is bad , why? We have to still buying just for good credit?
Message 7 of 9
Moderator Emeritus

Re: Extreme Score Drop

Util factors in, they want to see how you handle the credit.  When your scores get to a certain point, it really doesn't matter.

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 8 of 9
Frequent Contributor

Re: Extreme Score Drop


j_ayala wrote:
So FICO is not company we could trust? Because if your paid your doubt to try save money after take all your credit down to zero is bad , why? We have to still buying just for good credit?

fico is one of few we can actually trust


If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Walmart Mastercard|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$83,300 total card credit FICO Equifax-803, FICO Transunion-791, FICO Experian-771 , DTI-3.4%
Message 9 of 9