[Help] Why is my FICO tanking???

[svt034]

This past March I applied for a DiscoverIT card to add to my wallet since my Capital One Journey was the sole piece of plastic in there at the time (7mo useage at the time). When I applied, I was approved and I noticed Discover mentioned I had a 750 via TU at time of approval, which I was very happy about. 

Since the IT displays your FICO on every statement, Ive been noticing for the past 2 statements it has been decreasing by about 20pts each time, with no missed payments and always extremley low util ratios (5-7% on each card at most). The only thing Ive een doing differently since Ive gotten the card is using both cards a lot more and paying them off pretty much weekly - I dont think that should have an ill effect on my FICO, however. 

My total credit history is only about 9 or 10 months so AAoA isnt long by any means. Im thinking the score drop has to do with the AAoA but I am not quite sure. Any insight is greatly appreciated. Thanks in advance.

[Rain77]

Another reason for the drop could be % of cards reporting a balance.  If these are your only 2 cards and if either one or both report a balance you are at 50% or 100% of cards reporting a balance.  Also FICO could drop if no cards are reporting.

[svt034]

---

@Rain77 wrote:

Another reason for the drop could be % of cards reporting a balance.  If these are your only 2 cards and if either one or both report a balance you are at 50% or 100% of cards reporting a balance.  Also FICO could drop if no cards are reporting.

---

Hmmm...I do use both cards but I always pay them off so the util. ratio at the end of the period is, at most, 5-7%.  The thing I dont understand is back when I had only the CapOne, it would still be 100% of cards reporting the balance, correct?  Why would that cause a change if I got another card, but used it as well...

Anyone have any advice on how I can pick my score back up?  I really was hoping to climb to the high 700s possibly 800s, but now I am focused on reversing this trend...

[Rain77]

Try just letting one card report a balance UTI 1-9%.  See if it gets some points back.  I'm sure you will see those scores as your credit history grows.

[bdhu2001]

---

@Rain77 wrote:

Another reason for the drop could be % of cards reporting a balance.  If these are your only 2 cards and if either one or both report a balance you are at 50% or 100% of cards reporting a balance.  Also FICO could drop if no cards are reporting.

---

Are you using more than 50% of the available on either card?  If so, don't do that.  Also, it sounds like the new card may be the reporting culprit since you've had the other card for months w/o this occuring. Make sure you've paid off the balance 7-10 days prior to the closing date on your card and perhaps do as the other poster suggested and use one card.  If you use one card, alternate between the cards. Use one card 2 mos straight, see how it affects your scored; then use other card 2 mos straight.  That may help you to narrow down which card you should use differently.

[travelerbill]

I'm having a similar issue.  I have a discharged Ch7 from 2010 on my account, but atypically, I never stopped paying until I filed, so I dont have a lot of lates or missed payments.  We've been very good since then and my Equifax score went from 631 in Aug 2011 to 715 this past March.  I am an authorized user on three accounts of my wife (which I rarely touch) and a secured account in my own name.  It has a $400 limit and last month I let the balance rise to $260 and actually paid it off on the day they reported balances so it caused my score to drop to 670.  I understand that.  But this month, on reporting day my balance was $0.00 and my score dropped to 657!  What is going on?  I read above, do I need to make sure I have a small balance on the card when they report?  This is frustrating.  I know it is going to be a chore to find a mortgage lender what with the Ch7 on my record but considering that I've had pretty good credit lately.  Lickily my wife's is MUCH better than mine but I'd like to be a help more than a hindrance.