Once again I paid off a credit card and at the credit limit increased bringing my utilization down from 30 to 10%. However, I have received no score change alert though I know its been reported thanks to a three in one monitoring service I have. Can someone explain this?
I am looking at my scores from my fico scorewatch product...
I am looking at my scores from my fico scorewatch product. The last alert I got was well before this account was either paid or the limit was reporting increased. I know it has since reported because, I received a hard copy of my report in response to a dispute. When this reported it took my overall util from 30 to 10% with the combination of paying off the card and the credit limit increase.
The last time this happened I called someone in customer service and they said that the limit increase and the pay down would offset each other resulting in a sum zero gain. This makes no sense at all to me since the avail credit and credit limit both increased across the board. There is never a delay I found when you run it up. Over Christmas my utilization was high for me, about 40%, each time a blance increased I got an alert within 24 hrs of reporting of a balance increase and a subsequest score drop. Each time a move happens in the opposite direction, I never hear a peep.
s thre a delay between what the bureau gets and the actual update from the scorewatch product.
Ive been using Score Watch since DEC. 2006 and I get emai...
Ive been using Score Watch since DEC. 2006 and I get email alerts every month that my score is going up everytime. But I dont use my CCards. I am only paying them OFF and/or DOWN + getting credit increases.
So I know for me that Score Watch works.......But - hear you.....I wonder if maybe cause you are using credit but also paying them down and/off it "does" balance out. Maybe its the fact that they are being used that is the culprit.
I wonder if you dont use them for a few months, will it jump up higher than normal. I guess its hard to tell unless you try.
Usually when my card report higher balances I hve been no...
Usually when my cards report higher balances I have been notified rigjt after the reporting date. This time it took a full three weeks to get the alert. It resulted in the large increase I expected, with paying the card off and getting a 40% credit limit increase, but I know that it was reporting on Equifax well before the alert. I guess that 24 hours thing isn't necessarily true. As Far as paying down balances, I usually use mine then pay them off anf try to rotate which cards have a balance. A large purchase ran utilil up now back down to 10%.