+87 bump

[gman]

I have 4 cards in total - two from Chase, one from NFCU and another from BOA. I always keep my individual and combined utilization well below 10% and more often then not I am at 1-2%. I keep a balance on a few of the cards but decided to pay all off except for 1, then my three scores each dropped by 10pts straight away. I increased my balance on my chase sapphire reserved and immediately Experian jumps by +87pts to 797 on the 9th of July. The other two haven't budged and its been a few days since Experian updated.

Loving the near 800 score but Any idea what gives? 

Also, I paid down a personal loan to below 8% of the original balance last night from about 20% so am I right in thinking there would be a bump in scores once that reports?

Many thanks in advance for any help!

[SouthJamaica]

---

@gman wrote:

I have 4 cards in total - two from Chase, one from NFCU and another from BOA. I always keep my individual and combined utilization well below 10% and more often then not I am at 1-2%. I keep a balance on a few of the cards but decided to pay all off except for 1, then my three scores each dropped by 10pts straight away. I increased my balance on my chase sapphire reserved and immediately Experian jumps by +87pts to 797 on the 9th of July. The other two haven't budged and its been a few days since Experian updated.

Loving the near 800 score but Any idea what gives? 

Also, I paid down a personal loan to below 8% of the original balance last night from about 20% so am I right in thinking there would be a bump in scores once that reports?

Many thanks in advance for any help!

---

If that is your only loan, paying it down from 20% to below 10% would cause a nice bump in your FICO 8 scores... but not 87 points worth. More like 25 or 30.

But paying off 3 of your 4 cards would not cause a drop, and increasing your balance on one card would not cause an increase.

[gman]

That is my only loan. I only paid it last night so hasn't reported yet. The +87 bump was on the 9th.

[FireMedic1]

You might have been placed higher in a FICO bucket with your peers. Once you reach the next bucket it may drop some scores. All kinds of stats in a FICO bucket.

[Anonymalous]

That's a huge boost. Either a serious negative dropped off your report, or multiple thresholds were passed, like say passing a year without getting any new credit plus 3 or 4 other things. If you have an Experian account, you should be able to compare your credit reports before and after.