Re: 8 point drop for a CC increasing from $0 to $7
That's crazy!!!
Hope it clears up I just paid off something so my only balance on my whole CR (mins personal and car loans) is that $7 balance out off 11k. If anything it should be going up (I hope)
Re: 8 point drop for a CC increasing from $0 to $7
It could have pushed you over to the next point drop because it added to your total revolving debt. You should recover next reporting if you pay down at least that much on any revolving account.
Re: 8 point drop for a CC increasing from $0 to $7
Okay, I can top that - I charged $90 on my Discover card that has had a $0 balance for about a year and my FICO score dropped by 27 points! I have very little debt and a lengthy credit history with no negative information whatsoever. Total utilization on all my cards is less than 5% and the credit limit on the Discover card is $10,000. Can someone explain this???
Re: 8 point drop for a CC increasing from $0 to $7
Yes I can top that. In late July my TR FICO score was 681. In early August I paid of 2 car loans. Not one but 2! I also applied for and got a gas card in early august too. In late August I pulled another TR report, and it had plunged to 649! A 42 point drop! NO baddies...decent utils(22%) nothing else Go figure.
