topic Huge drop in Experian score after paying on AMEX. in Understanding FICO® Scoring

Huge drop in Experian score after paying on AMEX.

Czyln — Fri, 24 Jun 2022 16:25:58 GMT

My Experian score dropped 60pts from 798 to 738 in one day. My other scores are in 790s. Any idea?

Credit change
Company Name
AMEX
Utilization Percentage
Not_Reported%
Balance Amount
$1,538.00 -> $332.00

Re: Huge drop in Experian score after paying on AMEX.

disdreamin — Fri, 24 Jun 2022 16:27:22 GMT

@Czyln wrote:
My Experian score dropped 60pts from 798 to 738 in one day. My other scores are in 790s. Any idea?
Credit change
Company Name
AMEX
Utilization Percentage
Not_Reported%
Balance Amount
$1,538.00 -> $332.00

I cannot see where that change would cause your score to drop. I'd consider pulling a current version of your report and checking it carefully, as something else likely changed.

Re: Huge drop in Experian score after paying on AMEX.

SouthJamaica — Fri, 24 Jun 2022 16:40:08 GMT

@Czyln wrote:
My Experian score dropped 60pts from 798 to 738 in one day. My other scores are in 790s. Any idea?
Credit change
Company Name
AMEX
Utilization Percentage
Not_Reported%
Balance Amount
$1,538.00 -> $332.00

I have no idea what caused that 60 point drop.

But I know that what did NOT cause it was a reduction in the balance of an account from $1538 to $332. That did not cause a single one of those 60 points.

Re: Huge drop in Experian score after paying on AMEX.

Czyln — Fri, 24 Jun 2022 17:17:40 GMT

I just got a new update today no other changes.

Re: Huge drop in Experian score after paying on AMEX.

SouthJamaica — Fri, 24 Jun 2022 17:52:03 GMT

@Czyln wrote:
I just got a new update today no other changes.

You need to compare the report from the day of the change with the report from the day before.

What ever "updates" you are receiving don't tell the whole story.

Re: Huge drop in Experian score after paying on AMEX.

Czyln — Fri, 24 Jun 2022 22:22:48 GMT

Only one change a business inquiry, Kabbage.

Re: Huge drop in Experian score after paying on AMEX.

SouthJamaica — Sat, 25 Jun 2022 16:51:03 GMT

@Czyln wrote:
Only one change a business inquiry, Kabbage.

I predict that in time you will find out what really caused the score drop. And when you do, please get back to us with that information.

Re: Huge drop in Experian score after paying on AMEX.

OmarGB9 — Mon, 27 Jun 2022 01:18:56 GMT

@Czyln wrote:
Only one change a business inquiry, Kabbage.

An inquiry would also not lead to a 60 point drop. I suggest going over the report from the day before and the report with this update with a fine tooth comb and going over every item/section line by line.

Re: Huge drop in Experian score after paying on AMEX.

Anonymous — Tue, 28 Jun 2022 15:27:25 GMT

@Czyln

I've experienced a 20 point drop in the past. I always keep $2 on only one of my cards (AZEO). But one time I paid it off, and my score dropped 20 points due to having zero balance on all cards.