@Revelate wrote:
@sam818 wrote:@NRB525 wrote:
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@sam818 wrote:
rolling 90's with a 590++ from myfico v8 here. So now it's reporting 60. That's why I'm surprised at the 50 point drop which appears to be based soley on the mortgage since the 3 CC trade lines have all dropped to 40% utilization in the same 30 day period.
Makes me wonder if it would be better to reduce tge mtg to 30 or the CC utilization to less than 30%. So far both improvements have lead to score reductionsI would suggest that you not worry about the score in the short term when you're behind in your financial obligations (at least in this case).
Get your mortgage current ASAP; then worry about the rest of your debt or anything else with regards to credit. I do agree with you that it's the mortgage line which is the albatross on your credit report and score... but until it's current, score may well continue to drop.
+1
OP, your mortgage lates are quite simply baddies. You can't analyze any FICO score changes or speculate on how it affects scores when that is going on.
@Anonymous wrote:I don't understand it either! I went from 64% utilization to 46% and my score dropped 27 points. One card only had a $75 balance and I paid it off in full. My score then dropped 12 points. What the hell? Then I paid down a balance on another card by only $26 extra dollars, and my score dropped another 7 points. I worked on my credit since last August finally getting my score from 549 to 645 for Experian, so eventually once I got my score closer to 700, I could qualify for a decent loan. Then each time I paid a little more on my balances, I would get an alert that there was a balance decrease, but it will show my score dropping. Now it is now back to 599. I just want to cry. Everyone keeps saying to pay down the balances so the utilization will be low, therefore it will increase your score. But, instead it did the opposite. My score was higher when my utilation was higher. Now I feel like I wasted all of these months for nothing.
Sorry to hear the concerns, but really, you are better served by opening your own thread. This thread includes late mortgage payments as a driver.
I'm guessing that late mortgage payments are not in your mix of issues?