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my fico score increase 45 point and change back to 40 point down!!!!

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Anonymous
Not applicable

my fico score increase 45 point and change back to 40 point down!!!!

guys please someone answer to my question,

after start working with credit repait company sky blue they are realy good, i open some credit card at same time and makesure my usage is low. i got alart my score chnage to 645 from590. i was happy. and my daughter use my credit cart which was for credit one. i got over limit $6 total $406. and they report to all 3 bearu

and they changed my score to 590.

i paid my full balance but still my score is the same.

my question:

whene they start to report monthly toall  bearu , is my score would be back to $645 again or not?

if not how can i fix this problem?

thanks for all help

 

Message 1 of 5
4 REPLIES 4
NRB525
Super Contributor

Re: my fico score increase 45 point and change back to 40 point down!!!!

I don't know the specifics, but in general Credit One is a predatory lender, so the first thing I'd wonder is if they added some sort of negative to your file for going over the limit. Pure speculation on my part, but you may want to check your credit report.

Do you have monitoring here at myFICO or somewhere, to see when changes happen to your credit file?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 2 of 5
Anonymous
Not applicable

Re: my fico score increase 45 point and change back to 40 point down!!!!

they usually report it the next time statement cuts.  just give it some time

Message 3 of 5
Anonymous
Not applicable

Re: my fico score increase 45 point and change back to 40 point down!!!!

If your daughter put your card over its limit and it reported to the bureaus, then the score drop is due to having a maxed out card. If you paid the balance off, then next time it reports, your score will go back up. No worries.

 

On the other hand, it's possible that whatever that credit repair company had removed from your credit reports in order to get your score up could have re-reported. You might want to take a look a your credit reports just to be sure.

Message 4 of 5
happypill
Valued Contributor

Re: my fico score increase 45 point and change back to 40 point down!!!!

Before I joined myFICO my score went up & down by 25-30 points every month.  What I didn't understand at the time is that utilization can swing your scores a lot.  For best restuls, you want to keep your utilization between 1-10% on just one card, keeping all others clear.  You do this by submitting payment before statement cut.  Card companies will typically report your balance each month as of statement cut.

 

By going over limit, you score was probalby penalized even further than maxing out your credit.  Definitely a huge negative, but it will go away once you get your utilization down.

Message 5 of 5
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