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Score dropped 25 points for no reason

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Score dropped 25 points for no reason

I don't get this. My score dropped 25 points for no reason at all. The only thing I noticed is that all my cards showed a 0 balance. But other than that nothing changed. Now my score is 580 across the all three bureaus. I am seriously heartbroken.

 

I need to break that 650 barrier as soon as I can. Now since December I've gotten three new cards-Open Sky, Cap 1 Quicksilver one, and Discover secured. I also was approved for Genesis credit for some furniture. I am hoping now that with four credit cards, the Genesis credit for furniture and two baddies(one drops off in Nov) that my score will rise.

 

But why did my score drop 25 points???

Message 1 of 5
4 REPLIES 4
Super Contributor

Re: Score dropped 25 points for no reason


@Mikoyan wrote:

I don't get this. My score dropped 25 points for no reason at all. The only thing I noticed is that all my cards showed a 0 balance. But other than that nothing changed. Now my score is 580 across the all three bureaus. I am seriously heartbroken.

 

I need to break that 650 barrier as soon as I can. Now since December I've gotten three new cards-Open Sky, Cap 1 Quicksilver one, and Discover secured. I also was approved for Genesis credit for some furniture. I am hoping now that with four credit cards, the Genesis credit for furniture and two baddies(one drops off in Nov) that my score will rise.

 

But why did my score drop 25 points???


BINGO! Never have all your cards show 0 balance. Always have 1 report 2-4% each month. FICO penalizes you for having no credit use. It will bounce back. There is no memory month to month. Dont know your CL's or number of cards. As we say here. AZEO always. All Zero Except One. Pick 1 to report and the points will come back.

Call Genesis and ask if they list their loans as a consumer finance account on your credit report. If so. FICO doesnt like CFA's. But more than likely its the no cards reported a balance. And side note. No more apping if you need that score jump. Good Luck!





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 5
Community Leader
Mega Contributor

Re: Score dropped 25 points for no reason


@Mikoyan wrote:

I don't get this. My score dropped 25 points for no reason at all. The only thing I noticed is that all my cards showed a 0 balance. But other than that nothing changed. Now my score is 580 across the all three bureaus. I am seriously heartbroken.

 

I need to break that 650 barrier as soon as I can. Now since December I've gotten three new cards-Open Sky, Cap 1 Quicksilver one, and Discover secured. I also was approved for Genesis credit for some furniture. I am hoping now that with four credit cards, the Genesis credit for furniture and two baddies(one drops off in Nov) that my score will rise.

 

But why did my score drop 25 points???


 

It dropped because all cards reported zero. In scoring language, that translates in " no revolving credit use" 

As soon as one your cards reports a balance, all points lost due to cards reporting zero will return. 

Always alllow one card to report a balance, they pay after statement is generated. 

Message 3 of 5
Community Leader
Mega Contributor

Re: Score dropped 25 points for no reason


@FireMedic1 wrote:

@Mikoyan wrote:

I don't get this. My score dropped 25 points for no reason at all. The only thing I noticed is that all my cards showed a 0 balance. But other than that nothing changed. Now my score is 580 across the all three bureaus. I am seriously heartbroken.

 

I need to break that 650 barrier as soon as I can. Now since December I've gotten three new cards-Open Sky, Cap 1 Quicksilver one, and Discover secured. I also was approved for Genesis credit for some furniture. I am hoping now that with four credit cards, the Genesis credit for furniture and two baddies(one drops off in Nov) that my score will rise.

 

But why did my score drop 25 points???


BINGO! Never have all your cards show 0 balance. Always have 1 report 2-4% each month. FICO penalizes you for having no credit use. It will bounce back. There is no memory month to month. Dont know your CL's or number of cards. As we say here. AZEO always. All Zero Except One. Pick 1 to report and the points will come back.


 

Bruh, you got me by a minute! Smiley LOL

Message 4 of 5
Super Contributor

Re: Score dropped 25 points for no reason


@Remedios wrote:

@FireMedic1 wrote:

@Mikoyan wrote:

I don't get this. My score dropped 25 points for no reason at all. The only thing I noticed is that all my cards showed a 0 balance. But other than that nothing changed. Now my score is 580 across the all three bureaus. I am seriously heartbroken.

 

I need to break that 650 barrier as soon as I can. Now since December I've gotten three new cards-Open Sky, Cap 1 Quicksilver one, and Discover secured. I also was approved for Genesis credit for some furniture. I am hoping now that with four credit cards, the Genesis credit for furniture and two baddies(one drops off in Nov) that my score will rise.

 

But why did my score drop 25 points???


BINGO! Never have all your cards show 0 balance. Always have 1 report 2-4% each month. FICO penalizes you for having no credit use. It will bounce back. There is no memory month to month. Dont know your CL's or number of cards. As we say here. AZEO always. All Zero Except One. Pick 1 to report and the points will come back.


 

Bruh, you got me by a minute! Smiley LOL


Were tied now. LOL!!!!!!!!!!!!!!! 1-1





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 5
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