myfico Is On Drugs!

[kuku4koco]

I also paid off a balance on a cc a few weeks ago with no other activity and my score decreased as well.  I was at 26% util now 0%. I don't understand it either.

[Anonymous]

Well that's why.  If you have 0% util that will make your score drop.

[kuku4koco]

Oh... ok.

[MarineVietVet]

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@Anonymous wrote:
I was carrying 52%UTIL on my Home Depot card, paid it completely off and it reported this morning and dropped my EX 8 points? WTH??? Are they promoting carrying high balances. I am so over this score crap. My EX went from around 690 to now 610 from too many new accounts, low AAOA and it was too many cards with balances. So, I paid almost all of my cards off to get my score up and this crap happens. There are no baddies of any kind on my report and my scores just keep dropping no matter what I do. Any insight?

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An eight point drop is not unusual or severe. Scores go up and down just about every month.

On our Discover card the score never stays constant. It will go up six points one month and down nine points the next.

Why does this happen? I have no idea.

It's really nothing to be concerned about IMO.

[Zorasmiles]

You need to let one card report 1-9% monthly. GL

[Anonymous]

I'm just more concerned about the overall picture. My scores have now dropped about 80 points. I thought by paying cards down and off and entering the garden, I would only go up from here but they're still dropping. My Lowes card hasn't reported high UTIL yet so I can only imagine they will drop further. I think I need to step back from myfico and monitoring daily to keep my sanity. I'm literally losing sleep from this. I'm more concerned my current creditors are going to start AA'ING me for the decreases despite not having any baddies. :/

[tufa4311]

If I underdtand you correctly, and I may not be, you noted the exact reasons why your score has dropped the majority of the 80 points you are referring to:

"My EX went from around 690 to now 610 from too many new accounts, low AAOA and it was too many cards with balances".

So really all we are talking about here is the 8 or so points that the score has dropped *seemingly* for no reason. I say *seemingly* becuase there is a reason, however small it is, we just don't know what it is and that is pretty much by design.  Sure, we know the big stuff but if we knew exactly what prompts a score to go up or down a few points here or there we'd have the equations that EX has.

Yes, paying down your cards and thus lowering your util help but I do not think that the drop you see from things like high util are all fully gained when that util is lowered - although this is just conjecture.

Again, I think we are talking about 8 points here - not something to loose your sanity about, and yes, I agree, you could step back from the day to day watch as it is not meant to be a negative drain on your everday life.

Take care of the big things, the UTIL, the new accounts which hurt your AAOA, too many cards reporting too many balances, and let the rest take care of itself.

Thoughts from someone who really doesn't know that much about all this...

[Anonymous]

Thank you! I have done all I could for now. I have paid almost all cards off, the few with balances are under 20% except for Lowes which will report high this month. But that's okay! I am stepping away and I will just let the scores be. I'm tired of being credit obsessed. Thanks everyone for your input. I will update once my scores start climbing again!

[Anonymous]

*** Update- So it was my Lowes card that was updated and dropped my EX 8 points. Went from 22%-59%. I'm relieved to know the reason but disappointed in myfico for being so slow to update (decrease was yesterday but it alerted me today that was the actual cause, not HD as per the original alert). It's sad that the free monitoring sites alert you faster.

[sarahlee7]

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@MarineVietVet wrote:

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@Anonymous wrote:
I was carrying 52%UTIL on my Home Depot card, paid it completely off and it reported this morning and dropped my EX 8 points? WTH??? Are they promoting carrying high balances. I am so over this score crap. My EX went from around 690 to now 610 from too many new accounts, low AAOA and it was too many cards with balances. So, I paid almost all of my cards off to get my score up and this crap happens. There are no baddies of any kind on my report and my scores just keep dropping no matter what I do. Any insight?

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An eight point drop is not unusual or severe. Scores go up and down just about every month.

 It's really nothing to be concerned about IMO.

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Easy to say with trifecta 850's.