topic Question in Understanding FICO® Scoring

Question

mmcolorado — Sat, 20 Nov 2021 00:29:58 GMT

Apologies in advance if this question has been asked 100 times. How can my credit score drop 60 points by paying off an $1100 balance on a credit card?

Re: Question

FinStar — Sat, 20 Nov 2021 01:04:52 GMT

@mmcolorado,

Your thread has been moved to the Understanding FICO Scoring section of the forums for better exposure to your question.

So, that the community can provide feedback, can you share additional details?

Which specific credit score or model are you referring to -- FICO or Vantage? Where did you see this data or change? What is the limit and the current balance on the credit card after your payment? What other tradelines do you have besides this one?

Re: Question

mmcolorado — Sat, 20 Nov 2021 03:26:30 GMT

Alert on FICO/ Experian: $1500 limit

Credit change
- Company Name
  CAPITAL ONE BANK USA N
- Utilization Percentage
  75% 1%
- Balance Amount
  $1,130.00 $19.00

Re: Question

SouthJamaica — Sat, 20 Nov 2021 05:14:59 GMT

@mmcolorado wrote:
Apologies in advance if this question has been asked 100 times. How can my credit score drop 60 points by paying off an $1100 balance on a credit card?

It can't.

Something else caused it.

Re: Question

FireMedic1 — Sat, 20 Nov 2021 20:36:33 GMT

Not making any sense. Time to pull your free report on annual credit report. 60 pts could be a new late or something else. Paying down a card wont do that damage.

Re: Question

mmcolorado — Sun, 21 Nov 2021 03:35:44 GMT

The Alert says:

Experian -60 683

The balance on one of your accounts has decreased by $1,111.00

Re: Question

FireMedic1 — Sun, 21 Nov 2021 11:15:21 GMT

Please pull your free annual credit report for EX and look it over.

https://www.annualcreditreport.com/index.action

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