My friend text me yesterday upset that his scores had dropped. Now mind you, his scores are all in the 800's. He lost 8 points on his TU and Experian. The reason was that he paid his Discover card down to 0 from $248. He has a google store card that he charged his phone to and that still has the balance of the phone on it. He thought that would be enough to let that report a balance. The reason core he got for his score decrease was, the balance of all of your bank cards has been reduced by $248. The google card is through Sync. I told him to look at his report and he to see how it was listed. He said it's listed as a charge card, rather than a revolver. Is this normal. He also has an Amazon card through Sync and said that it was listed the same way on his report. In essence I guess he got hit with the all 0 penalty, even though the google card is at about 60% utilization. I don't know if this belongs here or in the credit card forums, so mods feel free to move it.
Goal Scores: 700 across all three
My Synch Home card is listed as a charge card but is still considered a revolver. It has been the only card reporting a balance the last 2-3 months and I've received no penalty. 3pt increase with EX when the balance dropped below 9%. My Synch card does not create a problem as the only revolver reporting a balance.
From what I've read here, if you want to achieve AZEO, it is advised not to use a store card or charge card for the reported balance. It's also advised not to use Chase, since they will report $0 balances, even if it's mid cycle. Honestly, there's no sense in getting upset over the loss of a few points that can be regained by letting the next card report a small balance.
@KLEXH25 wrote:From what I've read here, if you want to achieve AZEO, it is advised not to use a store card or charge card for the reported balance. It's also advised not to use Chase, since they will report $0 balances, even if it's mid cycle. Honestly, there's no sense in getting upset over the loss of a few points that can be regained by letting the next card report a small balance.
Oh trust me, I know. He's super anal about it. The score went from 818 to 810. I'd personally be happy with one score getting to 700. 😂😂
I do not see an issue here. Cards that are locked to a store and do not have network access(American Express, Discover, MasterCard, Visa) are charge accounts. They do not get valued as much since they do not have the ability to be used in multiple places. If Discover It is his only real credit card then he should be letting it post a balance at the statement date every month for his score to stay up. The good news is that on the next cycle he will get his points back as it is not sticky. If he is blowing a gasket over 8 points then there are bigger problems under the surface as it reminds me of the Experian Boost(doesn't work) commercial just reversed.
