Hello, I've been managing and taking care of my FICO scores and it helped me acquire some good prime cards from Amex, Citi and BoA and today MyFico.com alerted me of a change in balance on one of my card. I paid my Discover balance in full ($380) before statement cuts and today my EX dropped 34 points 
... From 699 to 665 . How come it dropped this big since Discover reported 0 balance on my credit report? also, I have a $5 monthly Credit Expert.com from Experian courtesy of Merrick Bank that I also check my credit report and my score is 715 and With Discover reporting 0 balance. I'm confused with my score?
Keep in mind my FICO is slow to report updates sometimes. Not only that, but Discover provides your TU FICO, not EX. Did you let *all* your cards report a $0 balance? Cause that's bad too.
Also when new accounts are reported, it could cause point drops since your AAoA is shrinking.
My new accounts have already been reported except for BoA and Amex, but my EX hasn't had any updates for about 3 days until today . But what's confusing is the big drop of my EX score from $380 bal to Zero balance from Discover ...MyFico.com alerted me that Discover balance on my EX to 0 from $380 balance. So I would assume that my TU and EQ would also have a big drop when they receive new Zero from Discover then? . Not all of my cards report Zero balance. Only about 3-4 cards reporting 0 and some have some Util. I even have 40% and 50% Util on 2 of my cards but my FICO score was at 699 with these Util . But today went down 34 pts just because of a Zero balance from Discover . I'm concerned about AA from AMex, Citi, Chase and BOA with my EX score dropped this much, they may frown about my score being low. I'm concerned also about adverse action from these banks due to low FICO score
Two things:
- The 34 points drop might have nothing to do with Discover. myfico don't always update when there is a score change. They do update, however, when there is a balance chance. So there was probably something else that made the score to drop but the score was updated when the balance with discover changed.
- Assuming the score drop was solely due to ultil, then you're probably fine at ~660 FICO if you don't max out the cards.
First step is to check your report (pull a new copy if you're really, really concerned) to see if there is any errornous information or anything that you don't recognize, anything bad appear on your report.
Second step, take a deep breath, pay down balances, your score will recover if the drop was due to balance/util change.
@Anonymous wrote:My new accounts have already been reported except for BoA and Amex, but my EX hasn't had any updates for about 3 days until today
@Anonymous wrote:Two things:
- The 34 points drop might have nothing to do with Discover. myfico don't always update when there is a score change. They do update, however, when there is a balance chance. So there was probably something else that made the score to drop but the score was updated when the balance with discover changed.
- Assuming the score drop was solely due to ultil, then you're probably fine at ~660 FICO if you don't max out the cards.
First step is to check your report (pull a new copy if you're really, really concerned) to see if there is any errornous information or anything that you don't recognize, anything bad appear on your report.
Second step, take a deep breath, pay down balances, your score will recover if the drop was due to balance/util change.
@Anonymous wrote:My new accounts have already been reported except for BoA and Amex, but my EX hasn't had any updates for about 3 days until today
Thank you for your input. I didn't max out my cards. I only have 1 card that is about I think at 60% util. The rest have good Util. I am hoping I can get back close to 700 or more