topic WHY does this happen? in Understanding FICO® Scoring

WHY does this happen?

Anonymous — Mon, 31 Oct 2016 20:48:47 GMT

Can anyone please explain to me how you can pay your credit card statements X10, X15 and sometimes x20 the minimum and your TransUnion, Equifax, and Experian score will NOT go up (at least not right away) BUT OMG if I make a $50 purchase using my AMEX, CHASE, Captial ONE card then I get hit by ALL three CB's for -4 or -6 points?????????? It is downright frustrating to work so hard to pay down your credit cards and get little reward; but let my overall bankcard amounts change I get hit like a brick wall? Sorry for the rant, I am just frustrated. Thanks in advance.

Re: WHY does this happen?

Anonymous — Mon, 31 Oct 2016 21:07:53 GMT

Getting higher scores is frustrating in itself. SO many factors. I feel your pain. Lowering utilization is often the fasted way to raise your scores, assuming you have a balance to pay. My scores have stalled. When I had cc card debt to pay down, I got points, but now that I pay in full and let a small amount report, not moving. It's because my scores are already taking into account that I have low utilization. No points to gain there anymore.

Utilization has no memory. If you run up a big balance, the score will drop. If you pay it back down, you get the points back. If something else changes in your profile around the same time, you may not see as big of a jump. Paying balances also take time to report. What's your current limit and what do you owe? What is your overall utilization and current scores? Are you letting one card report, or several?

Re: WHY does this happen?

Anonymous — Mon, 31 Oct 2016 23:00:23 GMT

Maybe you're getting the ding for too many cards reporting balances. When I have small balances on a card, I have to PIF before the statement to make sure I don't break the threshold of more than half my cards reporting a balance or I get dinged.

Re: WHY does this happen?

grillandwinemaster — Tue, 01 Nov 2016 00:51:47 GMT

The nice thing about Fico Games is that there's no need to micro manage your reports. Unless your about to app for something like a mortgage, auto loan, or a new credit card, minor score fluctuations are not important and for the most part can be ignored.

When you are ready to pull the trigger for something, you already know how to manipulate your scores. In the mean time, relax and enjoy the ride!

Best credit wishes to you!