Equifax Fico 8 score drop

[joeyv1985]

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@Anonymous wrote:

Hi

I had a similar experience with Experian recently. I recall reading, however, I can't recall where, because I read so many credit info sites, but it it could be connected with the credit history you have. You mention 4 total, but 2 are zero balance now? What I read was that a small change can be impacted if those 2 cards ($0) balance are they cards that were opened longer? Apparently, and they say it's not a dramatic change but if you're going to have a zero balance it's actually best to have that on newer credit cards then older ones, something to do with a person's length of credit history. 

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Hello Ahauchata, both cards that are at zero balance are still open. The card in question, a Citi DC($6 to $0), was opened earlier this year, while the other card that has a 0 balance was opened about 5 years ago.  

[Anonymous]

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@joeyv1985 wrote:

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@Anonymous wrote:
yep, crossed 49% individual utilization threshold on Chase, that did it, I bet!

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I agree. However, as mentioned when Chase reported the crossing of the 50% threshold on 7/21. The following day, 7/22, Equifax dropped my score 13 points. Why would they do it again 3 weeks later? Experian dropped my score by 11 pts on 7/22 and Transunion dropped it by 13 pts on 7/21 and nothing of the sort happened. Very confusing. 

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@joeyv1985 let me go back and reread this and refresh my memory. 

[Anonymous]

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@Anonymous wrote:

Hi

I had a similar experience with Experian recently. I recall reading, however, I can't recall where, because I read so many credit info sites, but it it could be connected with the credit history you have. You mention 4 total, but 2 are zero balance now? What I read was that a small change can be impacted if those 2 cards ($0) balance are they cards that were opened longer? Apparently, and they say it's not a dramatic change but if you're going to have a zero balance it's actually best to have that on newer credit cards then older ones, something to do with a person's length of credit history. 

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@Anonymous This is absolutely false. It can matter whether it's a retail card or a charge card or a credit card, but the age does not play a role like that.

[joeyv1985]

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@Anonymous wrote:

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@joeyv1985 wrote:

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@Anonymous wrote:
yep, crossed 49% individual utilization threshold on Chase, that did it, I bet!

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I agree. However, as mentioned when Chase reported the crossing of the 50% threshold on 7/21. The following day, 7/22, Equifax dropped my score 13 points. Why would they do it again 3 weeks later? Experian dropped my score by 11 pts on 7/22 and Transunion dropped it by 13 pts on 7/21 and nothing of the sort happened. Very confusing. 

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@joeyv1985 let me go back and reread this and refresh my memory. 

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Copy. Thanks. 

[Anonymous]

@joeyv1985 No problem. 

@Anonymous I was thinking more about that and maybe it was CBIS (credit based insurance scores) that you read about? It may have an effect there, I'm not saying that it does, but it's possible. And welcome btw.