woke up this morning to a 28 point loss on my Experian Fico score. Down to 684. The only change on my report was my utilization went from 16 to 17%. My lowes account reported a 400 balance on a $12,000 limit. I'm so confused, I didn't know this would cause such a big point drop otherwise I would of paid it off in full. 😞
Is that your only card? Seems a bit extreme for 1%. Check your free annualcreditreports. Its got to be something else.
Not my only card. I have about 20 cards. It does seem rather extreme. I just checked my annual reports from all 3 bureaus and there is nothing of concern there. 🤔
edited after checking annual reports.
@pizzadude 3 accounts were showing balances, now with the lowes account reporting this morning it is 4 accounts showing a balance out of 16 total credit accounts.
@alessandrom wrote:woke up this morning to a 28 point loss on my Experian Fico score. Down to 684. The only change on my report was my utilization went from 16 to 17%. My lowes account reported a 400 balance on a $12,000 limit. I'm so confused, I didn't know this would cause such a big point drop otherwise I would of paid it off in full. 😞
It's the 1st of the month... any age-related changes that would have caused a change in your FICO scorecard (incl. the aging of any negatives)? Crossing an age threshold that results in a scorecard change could lead to a drop like that.
@thornback this is all that is showing. I would think any age related changes would help my score? Not decrease it? Thoughts?
@alessandrom wrote:@thornback this is all that is showing. I would think any age related changes would help my score? Not decrease it? Thoughts?
Age related factors do not always trigger alerts. You need to go through each account and determine what has aged. And no, some aging can cause a change in scorecard which can sometimes result in a score decrease.
