Confused by credit card payment

[Anonymous]

So here I am with an Amazon credit card with an $800 limit. I paid more than the minimum payment and brought the balance down to $700 last month just got an update on myfico that my score went down 16 points for this. Why would this happen? I was under the understanding to get credit cards down to the 10-20% utilization. 

Any input would be appreciated! Thank you!! 

[Anonymous]

Oi vey....  I think you've misunderstood.  You're only supposed to use 10-20% of your credit limit.  Not leave 10-20% free. 

[driftless]

10 - 20% utilization is $80.00 - 160.00, not having a $700.00 balance on $800.00 CL.

[Anonymous]

No, no...haha I understand I am to only keep 10-20% of the credit balance on the card but was confused because on the other card I have any time I throw money on it I see a slight increase in my score however with this card I paid more than the minimum payment and it seems to have went the other way with the scoring. 

[baller4life]

You definitely misunderstood. You are at 88% utilization. 10% of $800 would be $80. 20% would $160.

[Anonymous]

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@baller4life wrote:
You definitely misunderstood. You are at 88% utilization. 10% of $800 would be $80. 20% would $160.

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Thank you. I understand the utilitzation is the 10% or 20% of the credit balance. I understand that. I have always watched my score go up when paying on the two credit cards that I have was just confused as to why this one time it went the other way. 

[baller4life]

Any time you are almost maxed on a card your score will take a hit. You will take a hit at 30%/50%/90%. So that's why you will see people say try not to allow over 29% to report on a single card. How many cards do you have? What's your total utilization?

[Anonymous]

they didn't understand the utilization i don't think but just because you pay more than minimum doesn't mean you're doing it right. you're still near maxed on it. that's the issue. you need to pay it down to about $50-70 and let THAT report.

[lg8302ch]

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@Anonymous wrote:

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@baller4life wrote:
You definitely misunderstood. You are at 88% utilization. 10% of $800 would be $80. 20% would $160.

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Thank you. I understand the utilitzation is the 10% or 20% of the credit balance. I understand that. I have always watched my score go up when paying on the two credit cards that I have was just confused as to why this one time it went the other way. 

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Is this a new account that reported for the first time ? Did you let balances report on more than 50% on your accounts?  If you list all your cards, limits and balances maybe it will be easier to give you an explanation.

[Anonymous]

It's not a new account...had it about 7 months now.

Amazon Retail Credit Card - Credit Limit $800 Current balance $701 (plan to pay this off within the month)

Capital One Credit Card - Credit Limit $3000 Current Balance $2200 (plan to pay half off mid April-May)