topic Re: My score dropped 50 points!!!! Update*** in Understanding FICO® Scoring

My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 18:43:55 GMT

Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off

Re: My score dropped 50 points!!!! Update***

CrankyDave — Sat, 14 Jan 2017 18:50:23 GMT

@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off

My EX score dropped 13 points just by crossing the 9% UTIL threshold. I paid off all but one of my cards, and it went right back to where it started once the monthly statement dates rolled around. It's a fickle thing, innit?

Re: My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 19:32:27 GMT

Utilization is a huge factor in your credit score so it's important to be responsible with it!

Re: My score dropped 50 points!!!! Update***

DU556 — Sat, 14 Jan 2017 19:34:17 GMT

I would feel like the world ended if my points dropped by 50 lol
Once you pay in full again, you won't bounce back fully though, correct?

Re: My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 19:43:18 GMT

You bounce back fully. I did this with another one of my card a few months ago but that was an accident lol. It dropped 60-70 points and once it was paid off, it was back to normal and improving!

Re: My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 20:15:58 GMT

@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off

I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.

Re: My score dropped 50 points!!!! Update***

irunfromcredit — Sat, 14 Jan 2017 20:21:05 GMT

Wow! At least you will bounce back. I took one card to 78%, another to 40%, and one to 30% a few months ago. Was a little nervous to see what kind of score drop I would get, but to my surprise I only lost 5-7 points on each bureau. Paid everything off in December and waiting to see what my scores will be. As of now I did get 2-3 points back since then. Good Luck!

Re: My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 20:25:03 GMT

Strangely enough, I've had 40% utilized across 3 cards and that bumped my score up by 3 points. One max out card and they ding you like crazy lol its okay, this will discourage me from apping for a few months.

Re: My score dropped 50 points!!!! Update***

Revelate — Sat, 14 Jan 2017 20:58:24 GMT

Um.

What does your file look like and what was your aggregate? Single max card I don't lose anywhere close to that assuming my aggregate stays minimal. I assume we're talking FICO 8 here and not some Vantage or other score?

Re: My score dropped 50 points!!!! Update***

Anonymous — Sat, 14 Jan 2017 21:07:39 GMT

I'm not sure... I just went on experian's website and got all 3 of my scores.

Re: My score dropped 50 points!!!! Update***

Revelate — Sat, 14 Jan 2017 22:27:50 GMT

@Anonymous wrote:
I'm not sure... I just went on experian's website and got all 3 of my scores.

Should be legit FICO 8 then; how many credit cards (or other revolvers like a LOC) do you have, what was the aggregate utilization, and any idea on AAOA? I'm assuming your file is clean?

My apologies for the deluge of questions, just trying to get a better idea of why you took a 50 point drop for a simple single tradeline reporting at max.

Re: My score dropped 50 points!!!! Update***

Anonymous — Sun, 15 Jan 2017 01:47:32 GMT

My file is clean as a whistle!

AAOA is around 2-3 years

I own around 18 credit cards total

Utilization is standing at 9% right now

Re: My score dropped 50 points!!!! Update***

SouthJamaica — Sun, 15 Jan 2017 15:05:31 GMT

@Anonymous wrote:
My file is clean as a whistle!
AAOA is around 2-3 years
I own around 18 credit cards total
Utilization is standing at 9% right now

Well everything looks good there. It's not a thin file, and while it's youngish, it's not painfully so.

It would be worthwhile knowing how many of your 18 cards were reporting a balance when Best Buy hit, but crossing a benchmark in that factor would probably count for 5-7 points, not 50.

So... it will be most interesting to see what happens when you get that Best Buy card paid down.

Please let us know when either (a) you pay it down and it reports, or (b) you find out that there was something else at play

Re: My score dropped 50 points!!!! Update***

SouthJamaica — Sun, 15 Jan 2017 15:07:17 GMT

@Anonymous wrote:
@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off
I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.

Wow

Re: My score dropped 50 points!!!! Update***

Revelate — Sun, 15 Jan 2017 15:43:40 GMT

@SouthJamaica wrote:
@Anonymous wrote:
@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off
I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.
Wow

I thought it might be aggregate at first glance, and given the penalty I take on my dirty file on an older algorithm for going north of 10% aggregate I can see that. I'm not a clean file so unfortunately my own revolving utilization tests don't necessarily apply but color me surprised if that's individual too.

Re: My score dropped 50 points!!!! Update***

Anonymous — Sun, 15 Jan 2017 18:17:24 GMT

@Revelate wrote:
@SouthJamaica wrote:
@Anonymous wrote:
@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off
I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.
Wow
I thought it might be aggregate at first glance, and given the penalty I take on my dirty file on an older algorithm for going north of 10% aggregate I can see that. I'm not a clean file so unfortunately my own revolving utilization tests don't necessarily apply but color me surprised if that's individual too.

My aggregate is 14% but I let my Venture report $17,860.00 which brought that card to 64% UTI is why I got slammed. Everything else reported zero except my EDP showed a $6 balance.

Paid the Venture down to 29%. So I am waiting for that to report. Then my aggregate will be 6%. Very interesting.

Re: My score dropped 50 points!!!! Update***

Revelate — Sun, 15 Jan 2017 18:27:42 GMT

@Anonymous wrote:
@Revelate wrote:
@SouthJamaica wrote:
@Anonymous wrote:
@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off
I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.
Wow
I thought it might be aggregate at first glance, and given the penalty I take on my dirty file on an older algorithm for going north of 10% aggregate I can see that. I'm not a clean file so unfortunately my own revolving utilization tests don't necessarily apply but color me surprised if that's individual too.
My aggregate is 14% but I let my Venture report $17,860.00 which brought that card to 64% UTI is why I got slammed. Everything else reported zero except my EDP showed a $6 balance.

Paid the Venture down to 29%. So I am waiting for that to report. Then my aggregate will be 6%. Very interesting.

Actually going over 10% aggregate is probably what you saw or some combination of the two. We need a lot more data but 64% on a tradeline is a smaller penalty if at all on most scorecards.

Re: My score dropped 50 points!!!! Update***

Anonymous — Sun, 15 Jan 2017 18:29:55 GMT

@Revelate wrote:
@Anonymous wrote:
@Revelate wrote:
@SouthJamaica wrote:
@Anonymous wrote:
@Anonymous wrote:
Less than 2 weeks ago, I maxed out my best buy visa card and my scores were in the 720s across the board. I checked my experian and it's now standing at 670! This is what happens when you max your credit cards lol it's only temporarily if you pay it off
I went from 4% to 14% and lost 21 points on EX, 18 points on TU and 23 points on EQ. Paid back down to 6%. I should see a decent recovery next month.

And that was without maxing a card.
Wow
I thought it might be aggregate at first glance, and given the penalty I take on my dirty file on an older algorithm for going north of 10% aggregate I can see that. I'm not a clean file so unfortunately my own revolving utilization tests don't necessarily apply but color me surprised if that's individual too.
My aggregate is 14% but I let my Venture report $17,860.00 which brought that card to 64% UTI is why I got slammed. Everything else reported zero except my EDP showed a $6 balance.

Paid the Venture down to 29%. So I am waiting for that to report. Then my aggregate will be 6%. Very interesting.
Actually going over 10% aggregate is probably what you saw or some combination of the two. We need a lot more data but 64% on a tradeline is a smaller penalty if at all on most scorecards.

Could of been because I have never gone over the 10% threshold? I thought it was a big hit. I hope I win some good points back once it reports.

Re: My score dropped 50 points!!!! Update***

Revelate — Sun, 15 Jan 2017 18:49:09 GMT

@Anonymous wrote:
Could of been because I have never gone over the 10% threshold? I thought it was a big hit. I hope I win some good points back once it reports.

My guess is you'll get all of them back... if you don't (excluding the obvious something else changed, like my last unexpectedly sloppy datapoint for 41% individual which appears to be a new revolvers with balances metric on my potentially new dirty scorecard, whouda thunk that?) then maybe there's a low entry individual utilization breakpoint in there between 30% and 10%, I've just never had a quality datapoint that suggested there was one there, and actually my most recent EX datapoint might suggest there isn't one there, hard to say with an unclean datapoint.

(for reference, lost 5 points on EX, 4 on EQ by seemingly going from 0 to 41%, then gained 5 points back on EX by paying $3 to $0 on a 20K line, blah, with 16 open revolvers at zero and only 2->3->2 and I never ever saw that before below 1/2 revolvers on EX, possibly my lien or lates going over the 6 year mark shifting scorecards just so hard to say).

Re: My score dropped 50 points!!!! Update***

Anonymous — Sun, 15 Jan 2017 18:53:18 GMT

@Revelate wrote:
@Anonymous wrote:
Could of been because I have never gone over the 10% threshold? I thought it was a big hit. I hope I win some good points back once it reports.
My guess is you'll get all of them back... if you don't (excluding the obvious something else changed, like my last unexpectedly sloppy datapoint for 41% individual which appears to be a new revolvers with balances metric on my potentially new dirty scorecard, whouda thunk that?) then maybe there's a low entry individual utilization breakpoint in there between 30% and 10%, I've just never had a quality datapoint that suggested there was one there, and actually my most recent EX datapoint might suggest there isn't one there, hard to say with an unclean datapoint.

(for reference, lost 5 points on EX, 4 on EQ by seemingly going from 0 to 41%, then gained 5 points back on EX by paying $3 to $0 on a 20K line, blah, with 16 open revolvers at zero and only 2->3->2 and I never ever saw that before below 1/2 revolvers on EX, possibly my lien or lates going over the 6 year mark shifting scorecards just so hard to say).

Thanks, great information.