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Regular Contributor
KeithW
Posts: 201
Registered: ‎02-22-2012
0

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 EQ637-TU690-EX704
Wallet: Cap One Rew. $3500, Cap One Plat. $2000, Barclay $3000, Old Navy Visa $2500, HSBC $1500, Credit One $1800, BoA $3000, Chase Freedom $1500, Wal-Mart Discover $2000, Amazon $3100, Lowes $2000, Kay's $7000
Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

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
blk8
Posts: 216
Registered: ‎02-11-2012
0

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
Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Forty point drop in FAKO!

Contributor
rebuildingmission2013
Posts: 77
Registered: ‎04-15-2013
0

Re: Forty point drop in FAKO!

[ Edited ]

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


10/01/2012 STARTING FICO SCORES: EQ 585 TU 598 EX 539
09/12/2013 CURRENT FICO SCORES w/ 9 REVOLVING TLs = $4,550 + INSTALLMENT TL: $23,300
EQ 598= AAoA=10m, UTIL=43%, 12m INQ=22, COLL=0, PUB REC=0, MISS PAY=0
TU 644 =
AAoA=1yr 8m, UTIL=46%, 12m INQ=19, COLL=0, PUB REC=0, MISS PAY=0
EX 614 = AAoA=3 yrs 11m, UTIL=63%, 12m INQ=17, COLL=0, PUB REC=0, MISS PAY=0
04/01/2014 GOAL FICO SCORES: 720s = AAoA=+7m, UTIL ≤ 9%, 12m INQ ≤ 6, COLL=0, PUB REC=0, MISS PAY=0
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Forty point drop in FAKO!

Aside from the above, FAKO is as FAKO does.

Frequent Contributor
sarkell
Posts: 345
Registered: ‎02-27-2013
0

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. :smileyhappy:
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


Take the myFICO Fitness Challenge
Regular Contributor
KeithW
Posts: 201
Registered: ‎02-22-2012
0

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 EQ637-TU690-EX704
Wallet: Cap One Rew. $3500, Cap One Plat. $2000, Barclay $3000, Old Navy Visa $2500, HSBC $1500, Credit One $1800, BoA $3000, Chase Freedom $1500, Wal-Mart Discover $2000, Amazon $3100, Lowes $2000, Kay's $7000

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