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Fico decrease for minor decreases in balances??

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melisacarak
New Member

Fico decrease for minor decreases in balances??

I was surprised to see that my FICO score decreaased today because of ~$50 balance decreases on 2 CCs. First the score is low because the balance is too high, then in trying to whittle some of these CC balances down, my FICO score decreased because of small decreases? What happens when FICO will get that I just paid $500 to another card? Seems like I cant win!

Can someone help explain?

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korunner
Established Member

Re: Fico decrease for minor decreases in balances??

i paid off a 2k credit card balance and my score dropped 6 points today. no other credit card  usage or anything else of note that i can see that could have contributed. frustrating, yes!

Message 2 of 3
erinm1123
Established Member

Re: Fico decrease for minor decreases in balances??

this happened to me today too! equifax score dropped by one point due to me paying the balance on one of my cards down from $700 to $500. isn't that the opposite of what should happen?


Starting Score: 599 Current Score: EQ- 640 TU-657 EX-653 Goal Score: 720

My Cards: CareCredit- $6,000, Chase Freedom- $4,500, Amazon Card- $4,000, Barclay Apple Card- $3,250, Wells Fargo Rewards- $3,000, Capital One(Secured)- $1,200, Walmart- $1,000, Target- $800, Kohls- $700, Chevron/Texaco- $500, Victoria's Secret- $500, CreditOne- $500

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