Credit score decreased?

Anonymous · ‎08-15-2014

The balance on my department store credit card went from $12 to $50 (total credit is 500). Then my credit sscore went down 5 points. Is this normal? This seems a bit ridiculous.

bdhu2001 · ‎08-15-2014

@Anonymous wrote:
The balance on my department store credit card went from $12 to $50 (total credit is 500). Then my credit sscore went down 5 points. Is this normal? This seems a bit ridiculous.

Your utilization went from less than 3% to 10%. It's not the $ amount of funds, it's the overall utilization and utilization per card. That's why I rarely use cards with a $500 limit. My Discover card has a low limit like that so I auto pay it, before I use it for a monthly bill (my water bill is charged on the 15th so I auto-pay Discover on the 12th).

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850

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Anonymous · ‎08-15-2014

Wow, okay, that makes sense! I think I will try to get my limit increased in the future so that it doesn't look like such a huge jump. Thanks for the response!!