13 Point DROP in Equifax, from $12 balance DECREASE. WHY???? Very Frustrated!

[Anonymous]

I don't understand why and how my Equifax score dropped 13 points from 584 to 571 on 8/16 and the Fico alert only showed that my recent balance decreased on one of my credit cards by $12.00.  I went from 4% utilization to 2% on this card with the balance decrease.  I had a mortgage inquiry a week ago and even that did not decrease my score.  I thought reducing the  credit card balances was supposed to help increase my score.  I'm very frustrated!  I take positive steps forward and then get a big setback like this.

[Vu]

Something else in your profile trigged the score drop.  You just happened to get the alert of the score drop and the balance decrease together at the same time and it gave the wrong impression that it was the cause.

I know it's frustrating but I am fairly certain that balance decrease does not lower your score.  And I think that below 8% utilization, it would make no difference in scoring.

[Anonymous]

Okay. Thank you Vu for clarifying. I appreciate it.

[Anonymous]

Your score did not drop due to the balance decrease.  Yet again the MF product continues to confuse customers because it suggests that score changes provided at the time of the alert are tied to the alert reason.

MF, please do something about this, as it's gone on long enough.

[Vu]

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@Anonymous wrote:
Okay. Thank you Vu for clarifying. I appreciate it.

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You are welcome.  Hope you get those points back soon since you are shopping for mortgage loans.

[iv]

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@Anonymous wrote:

I had a mortgage inquiry a week ago and even that did not decrease my score.

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Not to be the bearer of bad news... but you won't see the impact (if any) of that inquiry for 30 days from the date of the inquiry.