topic Re: Score Drop in Rebuilding Your Credit

Score Drop

stucktruck204 — Fri, 14 Feb 2014 21:10:05 GMT

I got my first secured card ($300 limit) and put 30 on it. Now that its reported i plan on paying it off and repeating this every month. Why would i drop 5 points? Should i keep doing the $30 a month and paying it off everything?

BANK OF AMERICA

New balance: $30

Show/Hide Details

Account opened: 1/2014

Description: Secured credit card
Amount in H/C column is credit limit

	Previously reported	Newly reported
Account balance:	$0	$30

You received this alert because this balance which was previously $0 increased to $30. This exceeded your alert limit of $5. You can change the settings for this kind of alert here.

Contact: BANK OF AMERICA, P.O. Box 982235, El Paso, TX, 799982235

BANK OF AMERICA

New balance: $30

Show/Hide Details

Account opened: 1/2014

Description: Secured credit card
Amount in H/C column is credit limit

	Previously reported	Newly reported
Account balance:	$0	$30

Re: Score Drop

n0smirc — Fri, 14 Feb 2014 21:28:20 GMT

How many cards? are your total balances below 9 %? Ideally you want below 9% on less than half your cc's. So $26 and below for this card and 0 for all others if you had 3. If you only have one card you'll have to try $0 and less than 9% to see where is best for your score.

Re: Score Drop

ktl72455 — Fri, 14 Feb 2014 21:36:13 GMT

Its in your score watch settings... you set it to alert you:

This exceeded your alert limit of $5

Go into score watch for settings and turn this off and you wont get alerted. I used to have it on but now have it off.

Re: Score Drop

ktl72455 — Fri, 14 Feb 2014 21:37:39 GMT

Also if the card just reported it will drop a tad becuase it reduces your age of accounts as a new tradeline.