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Valued Member
Posts: 27
Registered: ‎01-12-2017
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**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**

Frequent Contributor
Posts: 325
Registered: ‎01-19-2015
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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%.


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Contributor
Posts: 121
Registered: ‎11-19-2016
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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
Valued Member
Posts: 27
Registered: ‎01-12-2017
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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?

Established Contributor
Posts: 823
Registered: ‎02-11-2016

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

[ Edited ]

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.


March '17: EX 686 | TU 680 | EQ 680 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 15 | 24 | 26
Total CL on all cards: $56,500
Gardening until 4/2019
Established Contributor
Posts: 823
Registered: ‎02-11-2016
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Re: **bleep** score dropped.. feeling defeated

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


March '17: EX 686 | TU 680 | EQ 680 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 15 | 24 | 26
Total CL on all cards: $56,500
Gardening until 4/2019
Valued Member
Posts: 27
Registered: ‎01-12-2017
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Re: **bleep** score dropped.. feeling defeated

Sorry I'm new as of 1/2017
Senior Contributor
Posts: 5,175
Registered: ‎02-24-2015
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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 782 TU 804 EX 787 FICO5 EQ 722 Total revolving 395000
Contributor
Posts: 121
Registered: ‎11-19-2016
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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
Moderator
Posts: 29,759
Registered: ‎12-13-2013
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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."
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