36 point drop for balance going up $276

[Morphyyy]

So my FICO TU shows -36 points and Experian -16 for a $276 balance increase on credit card with over $30,000 total limit available. Sitting at $652 balance out of $31,250 would this be right to drop that much for very little balance increase

[simplynoir]

That does not sound right if that was the only reported change. Your scores should not drop that much

You double checked to make sure you didn't see any other discrepancies?

[Morphyyy]

Yes I have checked a lot and just got a brand new report. No late payments or collections it's just saying balance increase of $276 caused -36 drop on transunion. I got a car lol two months ago for $46,000 and it dropped it aboit 30 points which is understanble but this is not right

[Morphyyy]

It's saying I have high credit usage in Red letters of 3% lol

[simplynoir]

Yeah, I think you'll get another scoring update where you'll basically get most of your points back there because that does not make one lick of sense

It'd be one thing if the utilization jumped past 50% on an indivudal card or even overall but having it increase barely 1% of $30k just make my brain hurt more than it already does

[Morphyyy]

So one of those cards is like 98% maxed out on that new report but I only have like 3% usage total of my whole credit. So would that be why since that one card is mostly maxed out?

[simplynoir]

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@Morphyyy wrote:
So one of those cards is like 98% maxed out on that new report but I only have like 3% usage total of my whole credit. So would that be why since that one card is mostly maxed out?

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Yeah, that would do it. Any card at greater than 89% usage is going to considered "maxed" according to FICO measurements and you'll get the max penalty for that. Get the utilization on that card below 89% should start seeing some points recovery there. There are thresholds that I can't remember off the top of my head (quick forum search should find them) but basically you'll see score increases the further down you pay the debt

Edit: on an added note it doesn't matter what the limit is on the card whether it's almost maxed out on a $10k or $100 credit limit card, maxed is maxed and it will bring your scores down

[SouthJamaica]

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@Morphyyy wrote:

So my FICO TU shows -36 points and Experian -16 for a $276 balance increase on credit card with over $30,000 total limit available. Sitting at $652 balance out of $31,250 would this be right to drop that much for very little balance increase

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Your $276 balance increase did not cause the score drops.

[SouthJamaica]

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@Morphyyy wrote:

Yes I have checked a lot and just got a brand new report. No late payments or collections it's just saying balance increase of $276 caused -36 drop on transunion. I got a car lol two months ago for $46,000 and it dropped it aboit 30 points which is understanble but this is not right

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I'm sure it does not say "balance increase of $276 caused -36 drop".

[SouthJamaica]

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@Morphyyy wrote:
So one of those cards is like 98% maxed out on that new report but I only have like 3% usage total of my whole credit. So would that be why since that one card is mostly maxed out?

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There you go.  Why didn't you mention that in your first post?