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Forty point drop in FAKO!

Frequent Contributor

Forty point drop in FAKO!

I update my TU Vantage score daily. This morning I click update and much to my surprise it dropped by 40 points since yesterday! The only change was that my Barclay card utilization jumped up from $1600 to $2000 and the card has a $2200 limit. My overall utilization on all cards is still at 38%. Does it make sense that such a small increase on a single card would drop my score so drastically?

 

I checked my TU FICO and it hasn't changed.

Current Score: FICO EQ670-TU680-EX700
Wallet: Cap One Rew. $3500, Cap One QS $2500, Barclay $2650, Old Navy Visa $3000, QS-2 $2500, Credit One $2500, BoA $5000, Chase Freedom $3000, Slate $3000, Wal-Mart Discover $3000-STORE CARDS: Amazon $3500, Lowes $2000, Kay's $7600
7 REPLIES
Valued Contributor

Re: Forty point drop in FAKO!

Short answer....YES

Your card is almost maxed out..and the scoring Gods do not like that...

*8/10/13
Regular Contributor

Re: Forty point drop in FAKO!

YES! Going over 90% of your limit is a big scoring no no.


FICO: EX 662 | EQ 670 | TU 681
Epic Contributor

Re: Forty point drop in FAKO!

Re: Forty point drop in FAKO!

Your debt increased 25% on this card.  I don't think that qualifies as a small increase. 

Moderator Emeritus

Re: Forty point drop in FAKO!

Aside from the above, FAKO is as FAKO does.

Frequent Contributor

Re: Forty point drop in FAKO!

I had a 40 or 50 drop in fako new balance on my wally card 70% util but only lost 4 pts on fico. So I'm not real ok y concerned. Righr now since not apping paying before due date fico will recover. Smiley Happy
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


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Frequent Contributor

Re: Forty point drop in FAKO!

Thanks for the explanation. I would have thought that dropping my total utilization down from 44% to 38% would have helped but that only bumped me about 5 points.

 

Surprisingly my FICO score doesn't seem to have been affected from this.

Current Score: FICO EQ670-TU680-EX700
Wallet: Cap One Rew. $3500, Cap One QS $2500, Barclay $2650, Old Navy Visa $3000, QS-2 $2500, Credit One $2500, BoA $5000, Chase Freedom $3000, Slate $3000, Wal-Mart Discover $3000-STORE CARDS: Amazon $3500, Lowes $2000, Kay's $7600