Balance Decrese, Utilization Decrees and credit score drops.

[Anonymous]

Can someone please explain **bleep** happened here.

My balance decreased on one of my credit cards by $117, my utilization went down 2% from 47% to 45% and my score dropped 34 points with Experian. 

If your balance goes down and your utilization goes down isn't that supposed to be a good thing not a bad thing.

[AllZero]

47% -> 45% should not be a scoring threshold.

A score reduction of that magnitude signifies something else has occurred.

You stated one individual balance reduction. What about other individual and aggregate utilization %?

It's best to look at your before and after reports in greater detail.

Has something else changed; delinquency, collection, charge off, AoOA, AAoA, etc?

[Anonymous]

Nothing has changed on my report except that one thing. Actually all my balances have gone down a little bit.

I found that odd too that my balance decreased and my utilization decreased and I took that hard if a hit.

It only happened on my Experian report not with TU or EQ which makes no sense

[Anonymous]

You’ll have to dig deeper into your report. Something adverse happened to cause the drop. Individual and aggregate decreases in debt will never lower your score. As stated, since you dropped across the percentages you named, you did not cross a scoring threshold either.

Something else happened - a new negative, an old account falling off of, or being removed from, your report, something like that.

[Anonymous]

I know I have some negatives that are due to fall off 2 in December 2019 and 1 Feb 2020.

But if the negatives drop off shouldn’t that help it if they are reporting as charge offs.

Also one of them is a charge off in which I was issued a 1099-C but they refuse to either remove it or change the balance to $0

[satio]

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@Anonymous wrote:
I know I have some negatives that are due to fall off 2 in December 2019 and 1 Feb 2020.

But if the negatives drop off shouldn’t that help it if they are reporting as charge offs.

Also one of them is a charge off in which I was issued a 1099-C but they refuse to either remove it or change the balance to $0

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Not sure of your overall credit history length but perhaps it is tied to a past good but closed account(s) that have aged off?

[SouthJamaica]

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@Anonymous wrote:

Can someone please explain **bleep** happened here.

My balance decreased on one of my credit cards by $117, my utilization went down 2% from 47% to 45% and my score dropped 34 points with Experian. 

If your balance goes down and your utilization goes down isn't that supposed to be a good thing not a bad thing.

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The score drop was not connected to the balance decrease. It was caused by something else.

[Anonymous]

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@Anonymous wrote:
Nothing has changed on my report except that one thing. Actually all my balances have gone down a little bit.

I found that odd too that my balance decreased and my utilization decreased and I took that hard if a hit.

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Something else changed.  A Fico score is generated from report data.  If the score changed, the report data changed.  Input = data, output = score.  A utilization reduction from 47% to 45% cannot cause a score drop, so you need to look elsewhere.

[Anonymous]

I ahve attached a copy of my alert showing why it dropped. I cannot make any sense of it either since everything else hasn't changed on my Experian report.

https://imgur.com/TgXqylc

[NRB525]

Sorry about the score decrease, and welcome to MyFICO.

As noted by all the others, the alerted balance change is not the direct driver ( or even a significant contributor) to the score change. FICO scoring is complex, which is why there is an entire forum here to discuss it.

The best place to start is to get a clearer picture of your overall credit profile.

What is the list of accounts you have, bank and card name, limit, open balance? Any lates on each of these cards? If so how significant is the late, 30, 60 days or more?

Is there a BK anywhere in your past?

Any accounts sent to collections, which may have refreshed with a collection notice?

You say there are three accounts due to age off lates. What is the history of those?

It usually takes a while, but if you can provide this sort of info, it will be likely a reason is eventually determined.