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Low utilization but no change.

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Anonymous
Not applicable

Re: Low utilization but no change.

It's my  Fico score not Fako. A point increase after paying down the balances on all my cc just seem odd to me.

Message 11 of 14
Anonymous
Not applicable

Re: Low utilization but no change.

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.

Message 12 of 14
Anonymous
Not applicable

Re: Low utilization but no change.

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.

Message 13 of 14
SouthJamaica
Mega Contributor

Re: Low utilization but no change.


@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


 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 14 of 14
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