@Anonymous wrote:
I got this on the same day I got a score alert stating one of the balances on my card increased by 1421%.I know it sounds high but it went from $14 to $213 lol. I also recently opened a Shell Gas card for $1000 and which now has a $40 balance.
Everythign else seems fine. Did that balance increase and the new account ding my score 4 points? If I were to PIF should I see an increase?
Thanks
Welcome to the forums.
Optimal credit utilization for FICO scoring purposes is:
- Total revolving utilization > 0 and <= 9%, the lower the better, and
- Reporting a balance on less than half of your revolving TL's, and
- Reporting a balance on half or less of all TL's.
Anyway you get there is fair game. You only need have one revolving TL report a balance.
In your case you had increased UTIL on one card, maybe not overall, plus a new account. A four point drop for this situation is quite normal. Nothing to worry about at all. Should be recovered quickly if you don't run your reporting balances up. If you do run the reporting balances up expect a decrease.
