You ever lost points for paying down a card?

[Anonymous]

On March 12 Equifax updated on myFICO, with a -4 points. The update says “The balance on one of your cards has decreased by $34”.

It’s a closed, but not charged off, Discover It Chrome Student card that had an $87 dollar balance and I paid $34 on it a week and a half prior to that update.

Anyone got their points dropped because of paying something down?

Another weird thing is that I got +7 on Equifax because the balance on my Navient student loan went up by $80.

So what exactly is Equifax doing to my score? It is my lowest score while i’m trying to rebuild. There is a 30 point diff from EQ to TU.

[Anonymous]

You didn't lose or gain points because of those things.

You just had alert-worthy changes in your report happen, and when you get an alert, you also get a new score. The new score may have nothing to do with the alert reason.

See my signature link on "why did my score drop" -- I'm also very surprised that an established member doesn't know this already since it's brought up daily here.

[Anonymous]

Thank you for your reply.

Why I’m an established member is beyond me. Didn’t even know that until you pointed it out.

1. I’ve been a member here about 3 weeks
2. I’m a state Corrections Officer, I work 72 hours a week, I don’t live on myFico.com
3. It’s brought up daily here, you would know that but I won’t because i’m not on the forums often, despite the “established member” title I was given.

Thanks anyway.

[RobertEG]

Paying results in required updating of the current balance in the next reporting cycle.

If the payment is insufficient to bring the account back into pays as agreed, good standing, the update also informs FICO that the period of account delinquency has extended, which can negatively effect scoring under payment history, even though the payment may reduce your % util.

[Anonymous]

ABCD, I think forum "rankings" or labels should be ignored the same way CK scores are, as the OP hasn't even been a member for a month yet.  I'm pretty sure in my first month I wasn't aware of the alert/score change topic.  Just cutting the OP some slack here, since he's obviously new and we want him to stick around.

[Anonymous]

It has nothing to do with the fact that you paid down your debt. Your credit score probably dropped because of some other reasons. Some thing may have changed on your credit report. May be you didn't get an alert for that. May be you have accrued a higher balance on another card. May be your utilization ratio has gone up.