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It's my Fico score not Fako. A point increase after paying down the balances on all my cc just seem odd to me.
Yes they have. The cycle ends on the third and they report to the Credit bureaus by the sixth of the month. I usually receive the Myfico alerts by the 8th. I received the alerts with the new balances and Trans went up by only 1 point.
Thank you For the advise. First of all, I'm referring to my Fico score not Fako. However, I went back and checked the data in my credit report as you suggested. I don't know if this might be the reason but I discovered that the balance being reported on my mortgage have increased from 285, 435 to 316,734 which is completely inaccurate. I have already file disputes with the CRAs. Thanks again.
@Anonymous wrote:I have always heard and read that the lower your utilization percentage, the higher your credit score.
That's true
How is it that, when my utilization was 41%, my score dropped by 10 points. After paying down my credit cards balances and my utilization went down to 4%, my score went up only by 1 point? Not else changed, all payments on time and balances paid down. I don't understand...just 1 point!??
You haven't given us enough details to try and figure it out