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**bleep**!!!! Score Dropped .. feel defeated

Valued Member

**bleep**!!!! Score Dropped .. feel defeated

So I paid my credit card down to 5% ultization from 11% .. The previous balance was $768 and now its  $375 (the limit is $6500) and my score dropped 11 points.  I swear this is the only change.  I have a department store card with JCP and last month I paid that to a $0 balance which got me the 11 points last month for Experian. What am I not doing right, I thought it was good to have one card at a $0 balance and have one card under 9%. So I paid the card down and Experian takes back the 11 points.. like **bleep**

Message 1 of 11
10 REPLIES
Valued Contributor

Re: **bleep** score dropped.. feeling defeated

I truly believe that it depends on your credit profile. That may not be the formula for you. I get really good results at 11%.

AmexPlat(NPSL) Amex BCP(26k) BofA CR Siggy(15k) NFCU CLOC(15K) NFCU VS Cash(12.5K) Venture WMC(10.25k) Walmart(10k) BofA BBR(10k) Lowes(10K) Discover(8.5k) Chase FU(7k) Pier 1(6.5k) BB Visa(6k) Care Credit (6k) J Crew(5.9k) Citi Diamond(5.5k) Barclaycard(5k) PenFed PCR(5K) Kohls(3k) Mortgage May 2017 - 2 Penfed auto loans May 2017

FICO 8 Scores EX 681(15) EQ 669(17)TU 692(18) AAOA 3.0yrs TCL=167,150
Message 2 of 11
Contributor

Re: **bleep**!!!! Score Dropped .. feel defeated


colonygirl wrote:

So I paid my credit card down to 5% ultization from 11% .. The previous balance was $768 and now its  $375 (the limit is $6500) and my score dropped 11 points.  I swear this is the only change.  I have a department store card with JCP and last month I paid that to a $0 balance which got me the 11 points last month for Experian. What am I not doing right, I thought it was good to have one card at a $0 balance and have one card under 9%. So I paid the card down and Experian takes back the 11 points.. like **bleep**


Your FICO 8 did that?

 

If it was FICO 8, what did the alert say and what did the alert say last month? Was the score drop directly tied to a balance change or just coincidental?

Filed CH7 BK 4/2015 | Discharge 7/2015
Capital One Platinum $4k | Comenity Capital/Overstock $2k | NFCU cashRewards $1k
Message 3 of 11
Valued Member

Re: **bleep**!!!! Score Dropped .. feel defeated

Today the alert said "the balance on one of your accounts has decreased by $394. Utilization percentage 11% to 5%.. Capital One ... On 2/2 it said "the balance on one of your accounts has decreased by $382" ...balance $382 to $0 BUT this was on my JCP card ..... however it gave me 11 points

My report isn't clean .. on Experian I have 2 chargeoff accounts that fall off in June and October  and 1 of the charge off was adding $540 to my utilization which is why I made such a big payment on my Capital One card.. I never would have execpted to lose points. 

 

Should I go on a shoppoing spree to the Capital one card back up to $769?

Message 4 of 11
Valued Contributor

Re: **bleep**!!!! Score Dropped .. feel defeated

Alerts and score changes are NOT always in correlation. Meaning, you scores could have changed days ago but *this* event triggered an alert. 

 

So  no, don't go on a shopping spree because you think it'll net you 11 points.

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 5 of 11
Valued Contributor

Re: **bleep** score dropped.. feeling defeated

FYI - double posting is sort of frowned upon...I responded on your other thread.

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 6 of 11
Valued Member

Re: **bleep** score dropped.. feeling defeated

Sorry I'm new as of 1/2017
Message 7 of 11
Super Contributor

Re: **bleep**!!!! Score Dropped .. feel defeated


MrsCHX wrote:

Alerts and score changes are NOT always in correlation. Meaning, you scores could have changed days ago but *this* even triggered an alert. 

 

So  no, don't go on a shopping spree because you think it'll net you 11 points.


+1

FICO8 EQ 721 TU 747 EX 732 Total revolving credit 454000
Message 8 of 11
Contributor

Re: **bleep**!!!! Score Dropped .. feel defeated


colonygirl wrote:

Today the alert said "the balance on one of your accounts has decreased by $394. Utilization percentage 11% to 5%.. Capital One ... On 2/2 it said "the balance on one of your accounts has decreased by $382" ...balance $382 to $0 BUT this was on my JCP card ..... however it gave me 11 points

My report isn't clean .. on Experian I have 2 chargeoff accounts that fall off in June and October  and 1 of the charge off was adding $540 to my utilization which is why I made such a big payment on my Capital One card.. I never would have execpted to lose points. 

 

Should I go on a shoppoing spree to the Capital one card back up to $769?


Every husband that read that just had a panic attack Smiley Tongue

 

It's only 11 points. If you got originally it from optimal balances, you'll get it again and then some. Just work towards a clean and optimized report. It really does sound like you're on your way. Slow and steady... 

Filed CH7 BK 4/2015 | Discharge 7/2015
Capital One Platinum $4k | Comenity Capital/Overstock $2k | NFCU cashRewards $1k
Message 9 of 11
Moderator

Re: **bleep**!!!! Score Dropped .. feel defeated

Hi OP,

 

I have removed the cross post on this topic and combined the threads into one here in UFS. As already stated its not allowed to cross post on the same topic as it leads to confusion by the members and its against the TOS. Thanks for your understanding on this.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 10 of 11