Re: 4 point drop for using a gas card

xxhannahxx · ‎03-25-2008

Yep.. 4 point drop for using my Chevron gas card that had 0 ballance for several months. Spent $11.00 on gas (motorcycle).

No changes in util % but still got 4 points shaven off. I wonder if I pay this in full this month, I would get my 4 points back?

athensguy · ‎03-25-2008

You should get the points back if you pay off the card so it reports $0. You might have had the score drop because of the additional TL reporting a balance, as opposed to util making it drop.

Message Edited by erchambers on 03-25-2008 08:25 AM

xxhannahxx · ‎03-25-2008

OMG. 10 POINT DROP ON TU NOW. OH COME ON! IT WAS ONLY A $11 CHARGE.

I have util of 19%.

This is so fowled up. I'm going to only pay off the gas card next month to see if I get all my points back.

My fico score was 764 previously, so IF I had applied for a mortgage and the lender pulled my file today, I would have to pay about .325% more interest just because of a $11 purchase.

Anonymous · ‎03-26-2008

xxhannahxx wrote:

OMG. 10 POINT DROP ON TU NOW. OH COME ON! IT WAS ONLY A $11 CHARGE.

I have util of 19%.

This is so fowled up. I'm going to only pay off the gas card next month to see if I get all my points back.

My fico score was 764 previously, so IF I had applied for a mortgage and the lender pulled my file today, I would have to pay about .325% more interest just because of a $11 purchase.

This is even more evidence that erchambers' theory is correct. You probably have too many accounts with balances, courtesy of the $11 reporting.

TU is especially picky about this, which is why I think that your above post just adds more reason to believe this is the issue. If it cost you 10 points on TU and 4 points on another CRA, I would definitely consider the "accounts with balances" before anything else.

xxhannahxx · ‎03-26-2008

I was told by a my neighbors friend that his mother heard from her gardners son's best friend's barber that different industries have different point systems for scores. These industries ( home, auto, c.c.) use different models from what I was told. Points can fluctuate +/- 20 or more points from what I hear. My Tu scores would all be different to lenders according to who pulls my report. I'm bit confused by this. What good is the point system then?? I guess this is the reason why you CAN get turned down for a credit card with 750+ fico scores. or not get the best rate from banks. I've been reading too much posts here and to draw my own conclusion, my scores mean didly and I'm at the mercy of a calulation sysytem that can knock off 10 points for using my gas card for $11 purchase.

Cheddar, you are absolutely right! I have 6 accounts out of 18 that is showing balances. My gas card would be my 7th to show balance.

Neverthless, I plan to just pay off my gas card to see if I get all my points back.

Anonymous · ‎03-26-2008

xxhannahxx wrote:

Cheddar, you are absolutely right! I have 6 accounts out of 18 that is showing balances. My gas card would be my 7th to show balance.

Well, thanks, but to be fair, erchambers made the suggestion before I did. I just expanded on it a little.

Junejer · ‎03-29-2008

@xxhannahxx wrote:

I was told by a my neighbors friend that his mother heard from her gardners son's best friend's barber that different industries have different point systems for scores. These industries ( home, auto, c.c.) use different models from what I was told. Points can fluctuate +/- 20 or more points from what I hear. My Tu scores would all be different to lenders according to who pulls my report. I'm bit confused by this. What good is the point system then?? I guess this is the reason why you CAN get turned down for a credit card with 750+ fico scores. or not get the best rate from banks. I've been reading too much posts here and to draw my own conclusion, my scores mean didly and I'm at the mercy of a calulation sysytem that can knock off 10 points for using my gas card for $11 purchase.

Cheddar, you are absolutely right! I have 6 accounts out of 18 that is showing balances. My gas card would be my 7th to show balance.

Neverthless, I plan to just pay off my gas card to see if I get all my points back.

Yep, auto enhanced, CC enhanced and classic for the mortgages (which is what you get here at myfico dot com).