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Frequent Contributor
Posts: 473
Registered: ‎02-11-2013
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Sudden MyFico Score Drop...What Happened???

I received a score alert today from MyFico.. GE/Walmart reported my monthly balance to the CBs and my balance went from $0.00 to $36.00... This ONLY update triggered a score watch alert where it advised me MyFico score dropped 7 POINTS!!!  7 points over a $36.00 balance... How is this possible?  How can my score drop so much over $36.00?  My credit limit is $1,500 on this card..  Shocking...  I'm so digusted..  :smileysad:

Citi Hilton Honors: $25,000 -- Chase Sapphire Preferred: $25,000 -- Amex PLat: $NPSL -- Amex Everyday Preferred: $10,000 -- Citi TY Premier World: $16,800 -- NWFCU: $7,500 -- Chase Amazon Rewards: $7,000 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,400 -- Discover IT: $8,000 -- AmexTrueEarnings: $10,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Frequent Contributor
Posts: 403
Registered: ‎01-08-2013
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Re: Sudden MyFico Score Drop...What Happened???

What are your other cards looking at? Is your GE card the only one reporting a balance? Did your overall UTI go up from last month??

Amex Plat.(NPSL) Amex PRG(NPSL), Amex BCE($18K), Amex Hilton($1K), NavCheck ($15K), NFCU CR Siggy($16.6K), USAA Amex($7K), USAA World MC($7K), CSP($5K), Chase Marriott($5K), Care Credit($2.5K), Cap1 QS($3.5K), VS($500), Cap1 Secure($200)
Starting Scores(Jan 2013): FICO EQ: 643, TU: 552, EX: 567
Current Scores(January 5, 2015): FICO EQ: 696, TU: 703, EX: 696
In the Garden FOR-EV-ER!!!!! Cards and goals achieved! Let's grow and mature these babies!!!



Valued Member
Posts: 37
Registered: ‎03-11-2013
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Re: Sudden MyFico Score Drop...What Happened???

What was your score before & after. Anyway, It's just 7 points. I wouldn't worry too much about it.  To answer your question, it's possible because you're reporting a balance, whereas before you weren't.

Starting Score (2/15/13): EX (fako) 583// EQ FICO 634// TU FICO 658
Current Score (5/27/14): EX FICO 719// EQ FICO 742// TU FICO 729
Goal Scores: 740 on all.
CSP- 10K, United mileage explorer- 9k, Freedom- 5k, Barclays Arrival+ W.E.- 5k, Nordstrom- 6k, Chase Hyatt- 5k, Discover it- 5k, Slate- 4.5k, Amex Blue Cash- 1k.
Valued Contributor
Posts: 1,971
Registered: ‎09-16-2011
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Re: Sudden MyFico Score Drop...What Happened???

yeah its going around, credit sessame allerted me that my Chase Slate card CLI reported and my payments got reported, and my UTL on the card went down 10%, so my score should go up right?  nope, down 4 pts the myfico allerted me. Apparently my AP spree was all on EX reports which sucks I was hoping that Discover or Citi would of pulled EQ or TU, but nope my lowest score EX but oh well got approved but none of it is reporting. 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
Community Leader
Valued Contributor
Posts: 1,406
Registered: ‎07-12-2011
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Re: Sudden MyFico Score Drop...What Happened???


RSCo wrote:

I received a score alert today from MyFico.. GE/Walmart reported my monthly balance to the CBs and my balance went from $0.00 to $36.00... This ONLY update triggered a score watch alert where it advised me MyFico score dropped 7 POINTS!!!  7 points over a $36.00 balance... How is this possible?  How can my score drop so much over $36.00?  My credit limit is $1,500 on this card..  Shocking...  I'm so digusted..  :smileysad:


Hey RSCo!

FICO not only tracks utility of single cards and over all but also how many cards are reporting a balance.  Though there are many reasons that your score could be affected, this may be the reason for the score change.  I've found that with my personal FICO, if I allow more than 2 cards to reflect a balance, even at one time only let a 3rd report a $10 balance, my score drop 11pts.  I frequently mess around with letting cards report and different % to see the effect.  It's never more than a few points here or there but really, in the grand scheme of things, if you are not seeking new credit or a big purchase... don't sweat it.  It will bounce back pretty quickly unless you have a baddie report.  Hope this helps.

:smileyhappy:


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Frequent Contributor
Posts: 473
Registered: ‎02-11-2013
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Re: Sudden MyFico Score Drop...What Happened???

Thanks all for the feedback and suggestions.. 

 

So my fico score was right at 700 yesterday, then this, and ONLY this one update hit today and it was just a balance change from 0 --- > 36.00 out of a total CL of @1,500..

 

My overall accounts level Util's is 13% and has been at 13% for the past week or so.. I'm waiting for my 1 Amex to be "back dated" from 2003 back to 1998 and for my 2 new Amexs with back dates of 1998 to appear on my report.. I have a total of 18 credit and revolving accounts.. Oh well.. We'll see what happens.. But it sure seems to indicate that you get penalized for using any of the cards that you have.. ;/

Citi Hilton Honors: $25,000 -- Chase Sapphire Preferred: $25,000 -- Amex PLat: $NPSL -- Amex Everyday Preferred: $10,000 -- Citi TY Premier World: $16,800 -- NWFCU: $7,500 -- Chase Amazon Rewards: $7,000 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,400 -- Discover IT: $8,000 -- AmexTrueEarnings: $10,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500

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