Charged a card and score went down 20 pts

[Anonymous]

Pay down balances on credit cards and your FICO will crawl up 3-4 points. But have a new charge on a card and it drops 20??????
Only balances I have is Discover which is $100 and on Lowe's which was already at $692. Charged $224 on it and then my score dropped. I know its a rather high balance but the credit limit is at 17k so what gives???

[simplynoir]

Just to make sure here these are FICO scores you're talking about? Not Credit Karma or anything else like that?

[Anonymous]

Hi SimplyNoir,
Yes they are FICO. I'm subscribed to this site and get alerts when things change. I got the alert of the decrease this morning. 😞

[simplynoir]

And the increased balance on the Lowes card was the only change that you could see? Is this reflected on all 3 reports?

[Anonymous]

It had said it was because of the specific bal. increase but it came thru Equifax only. I'm assuming I will receive another alert soon for TransUnion.

[Anonymous]

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@Anonymous wrote:
It had said it was because of the specific bal. increase but it came thru Equifax only. I'm assuming I will receive another alert soon for TransUnion.

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There is something else going on with your profile.  You received an alert that a balance increased.  That doesn't mean a 20 point drop was due to this.  

[simplynoir]

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@Anonymous wrote:

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@Anonymous wrote:
It had said it was because of the specific bal. increase but it came thru Equifax only. I'm assuming I will receive another alert soon for TransUnion.

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There is something else going on with your profile.  

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I honestly think it's just EQ being screwy if that's the only change being identified here. Wait to see what TU and EX say when they report but more than likely it sounds like that score will correct itself before long. EQ is known to not being well liked around here.