topic Re: Is it just me??? in General Credit Topics

Is it just me???

selena — Wed, 08 Apr 2015 23:38:23 GMT

When ever I use a credit card and the balance post, myfico sends me an alert and it always has some insane % increase. For example the balance on my Freedom is $184. I received the alert that the balance on my account increased 1050%. I charged $91 on my Discover and that had a balance increase of 435%. Is there something I'm missing as far as utilization? Freedom CL is 3000 and Discover is 1700.

Re: Is it just me???

Kenny — Thu, 09 Apr 2015 06:45:28 GMT

It all depends on what balance you let report the previous month. That's what the percentage is based on.

Re: Is it just me???

takeshi74 — Thu, 09 Apr 2015 11:59:16 GMT

It's never just any one person on any topic but that's neither here nor there.

The balances on your reports do not update immediately. Cards typically report once a month on their report date. For most cards that is the statement date but there are some cards that do not report on statement date. If you want to understand the alerts you need to understand when your cards report.

Your reports do not update with every single transaction.

Re: Is it just me???

selena — Thu, 23 Apr 2015 19:28:20 GMT

Didn't know someone had responded. But yea I know it doesn't update with every transaction I just have to be better about knowing when my statements cut and all that good stuff. Thanks for the info.