topic Re: Lower Util Score Drop in Understanding FICO® Scoring

Lower Util Score Drop

ajcredit — Tue, 08 Aug 2023 02:47:38 GMT

I was at 815 with 3% overall utilization and paid down some balances but not zero out before they reported and have my utilization down about 1%. Just checked my score and it dropped 22 points to 793. Any idea what would cause that?

Re: Lower Util Score Drop

markbeiser — Tue, 08 Aug 2023 03:08:34 GMT

Bad debt slave, must carry more debt!🤪

Re: Lower Util Score Drop

ajcredit — Tue, 08 Aug 2023 03:47:00 GMT

@markbeiser wrote:
Bad debt slave, must carry more debt!🤪

I figured I must not be sacrificing myself enough to the debt gods. lol

Re: Lower Util Score Drop

FireMedic1 — Tue, 08 Aug 2023 21:23:20 GMT

Source and how many cards reported to get to 1% out of number of cards.

Re: Lower Util Score Drop

SouthJamaica — Wed, 09 Aug 2023 13:03:22 GMT

@ajcredit wrote:
I was at 815 with 3% overall utilization and paid down some balances but not zero out before they reported and have my utilization down about 1%. Just checked my score and it dropped 22 points to 793. Any idea what would cause that?

1. That would not have caused the score drop. It must be something else.

2. I think your post should be moved from "Credit cards" to "Understanding FICO scoring"

Re: Lower Util Score Drop

Hoben02 — Wed, 09 Aug 2023 14:07:46 GMT

I had something with a large point drop when affirm first started reporting to the credit bureaus

Re: Lower Util Score Drop

Junejer — Wed, 30 Aug 2023 12:15:52 GMT

@ajcredit wrote:
I was at 815 with 3% overall utilization and paid down some balances but not zero out before they reported and have my utilization down about 1%. Just checked my score and it dropped 22 points to 793. Any idea what would cause that?

Is this a FICO score? Which bureau? This sounds a lot like something a Vantage score would do. My TU Vantage recently took a 16 point hit for having one card go from $95 to $713, while simultaneously having another card report $1,048 to $0. Then, this morning got +17 for a card going from $0 to $161. It will go back down tomorrow when Chase reports it at $0.

Re: Lower Util Score Drop

Tiersha — Wed, 27 Sep 2023 20:36:29 GMT

I just received Notification. We have noticed a change, your balance has decreased by $146. You have an updated score. I go to check and it's tied to my Discover card...balance was $508 now $362 and I just tanked 45 freaking points via EQ.

Re: Lower Util Score Drop

FireMedic1 — Wed, 27 Sep 2023 21:40:22 GMT

@Tiersha wrote:
I just received Notification. We have noticed a change, your balance has decreased by $146. You have an updated score. I go to check and it's tied to my Discover card...balance was $508 now $362 and I just tanked 45 freaking points via EQ.

@Tiersha Where are you seeing this? Sounds like Vantage.

Re: Lower Util Score Drop

Tiersha — Thu, 28 Sep 2023 00:19:34 GMT

My fico 8 here. 730 to 685.

@FireMedic1 wrote:
@Tiersha wrote:
I just received Notification. We have noticed a change, your balance has decreased by $146. You have an updated score. I go to check and it's tied to my Discover card...balance was $508 now $362 and I just tanked 45 freaking points via EQ.
@Tiersha Where are you seeing this? Sounds like Vantage.

Re: Lower Util Score Drop

Junejer — Thu, 28 Sep 2023 02:09:37 GMT

@Tiersha wrote:
My fico 8 here. 730 to 685.
@FireMedic1 wrote:
@Tiersha wrote:
I just received Notification. We have noticed a change, your balance has decreased by $146. You have an updated score. I go to check and it's tied to my Discover card...balance was $508 now $362 and I just tanked 45 freaking points via EQ.
@Tiersha Where are you seeing this? Sounds like Vantage.

Must be something else going on. How many cards are reporting balances out of how many total cards?

My alert today was -2 on EQ and the alert said balance went from $713 to $2, therefore -2. The reality is that I went from AZE2 to AZE3. EQ doesn't like AZE3 for my profile.

Re: Lower Util Score Drop

GreatLife — Thu, 28 Sep 2023 02:31:38 GMT

Re: Lower Util Score Drop

FireMedic1 — Thu, 28 Sep 2023 10:24:02 GMT

@TiershaGo on annual credit reports and check to see whats changed. 45 pts is more than lowering util. Could also be you were placed in a new bucket with FICO.

Re: Lower Util Score Drop

Tiersha — Thu, 28 Sep 2023 11:24:18 GMT

I'll hit up annual but not sure about a new bucket. I have been running azeo with my Discover the chosen card last 3 months. Nothing has been late since 2019, no new accts. 4250 cl in that card and the 508 is the highest its been in a few months. This notification doesn't make sense to me.

Re: Lower Util Score Drop

GreatLife — Thu, 28 Sep 2023 12:44:52 GMT

CK shows my EQ dropped by 61 points after Discover updated 2 days ago with a lower utilization, no other changes. I pulled EQ on annualreports.com. Everything appears to be correct. Only thing that looks odd is no data appears in the "Available Credit" fields - it's totally blank for every account listed in the report. Could this be impacting my EQ score?

My spouse isn't having this problem but Discover hasn't updated since Sept 5th.

Re: Lower Util Score Drop

Tiersha — Thu, 28 Sep 2023 14:12:48 GMT

Well I just got another plummet. So now I dont think I believe in this azeo. Not if this is what it does. This is crap. It's not like I'm going to get those 45 points back anytime soon cuz it takes forever. My annual report is accurate.

Re: Lower Util Score Drop

GreatLife — Thu, 28 Sep 2023 16:37:20 GMT

This doesn't bode well for me because I have additional cards that haven't yet reported lowered balances. Does your report display any data in the "Available Credit" fields on each account? Mine are all blank..everything else looks fine and accurate.

@Tiersha wrote:
Well I just got another plummet. So now I dont think I believe in this azeo. Not if this is what it does. This is crap. It's not like I'm going to get those 45 points back anytime soon cuz it takes forever. My annual report is accurate.

Re: Lower Util Score Drop

Tiersha — Thu, 28 Sep 2023 16:54:21 GMT

I have 3 cards not technically reporting. 1 of them is the fb&t listed above. The report says there is a balance but I know theree isn't so I expect the cra reported after I got my report thus this.

I still have two others that will report as zero here shortly.

My report does show my nalances and uti and whats remaining.

this bites as I am in the process of selling a house and buying one and if f8 is affected my mtg score will be affected. I knew my house would make a change but was not expecting these to make a change doing azeo. So as I see it Azeo just potentially royally screwed me.

Re: Lower Util Score Drop

Junejer — Fri, 29 Sep 2023 01:58:45 GMT

@Tiersha wrote:
I have 3 cards not technically reporting. 1 of them is the fb&t listed above. The report says there is a balance but I know theree isn't so I expect the cra reported after I got my report thus this.

I still have two others that will report as zero here shortly.

My report does show my nalances and uti and whats remaining.

this bites as I am in the process of selling a house and buying one and if f8 is affected my mtg score will be affected. I knew my house would make a change but was not expecting these to make a change doing azeo. So as I see it Azeo just potentially royally screwed me.

I would suggest printing out your credit reports, break out the highlighter, magnifying glass and fine-toothed comb to go through everything side by side to see exactly what has changed. AZEO doesn't cause this sort of point drop. If nothing is found, you might be in a new credit file bucket.

Re: Lower Util Score Drop

OscarsMom — Fri, 29 Sep 2023 17:55:42 GMT

@SouthJamaica I keep seeing replies like this, and yet I've experienced the same seemingly counterintuitive score drops.

Was told I need a loan to boost my score.

Got a loan. EQ FICO 8 dropped 80 points. (VantageScore, useless as it is, dropped even more.)

Was told score would go up once I started making payments on the loan and it wasn't so new.

Made two on-time payments on the loan. FICO 8 dropped another 20 points.

Nothing else has changed in my credit use other than paying my Capital One bill on time. Those are the only debts I have. No negatives or new information in any of my reports. No new applications or inquiries. It does look on my EQ report, though, that my credit history went from 30+ years to 17 years with the addition of the credit union loan. They even have the date of my opening a JCP card back in 1991, but it says 17 years. (Will they change that if I dispute it?)

Just made a large payment on my Cap One card, which I'm sure will do nothing or drop my score even further.

Every time I use my credit card, my score drops. I can literally spend $5 on it as an experiment and see three points deducted from my FICO 8 the next morning. But when I make a payment, I have to wait two weeks for it to post, and nothing happens to my score. It's all just so much BS.