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Lots points for a $0 balance?

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Contributor

Lots points for a $0 balance?

Question about why when I paid a $29 balance on a $300 limit to $0, my score dropped 10pts?

 

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BK 7 Discharged 3/2019

CapOne QS ($750) • CapOne QS #2 ($500) • Credit One ($2000) • Blaze MC ($1000) • PenFed Shared Loan 1yr 2.05% ($500)
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Valued Contributor

Re: Lots points for a $0 balance?

Are all of your revolving accounts now reporting a $0 balance?  If so, you've been hit with the 'no revolving credit usage' penalty; points lost will be regained once an account reports a balance.

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 05/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 04/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.1 years not incl. AU / 3.5 years incl. AU
My AoOA: 7.3 years not incl. AU / 9.3 years incl. AU
Inquiries: EX 1/6 | 1/12 ✦ EQ 1/6 | 1/12 ✦ TU 1/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 3
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Valued Contributor

Re: Lots points for a $0 balance?

Edit:  If what I posted above is not the case, and you do, indeed, have other revolving accounts reporting a balance, then the point loss was due to something else -- not this balance decrease. 

 

myFICO alerts are not necessarily the reason for a score change.  The alert just triggers a score update, which would reflect any changes since the last update- but the change in score may have no correlation to the actual alert received.   Something else in your profile caused the score drop.  

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 05/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 04/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.1 years not incl. AU / 3.5 years incl. AU
My AoOA: 7.3 years not incl. AU / 9.3 years incl. AU
Inquiries: EX 1/6 | 1/12 ✦ EQ 1/6 | 1/12 ✦ TU 1/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 3 of 3
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