Fico score went down

[Anonymous]

Fico score

I am wondering if anyone could tell me if this site has its own scoring model.  I ask because had 4 credit cards that were over the limit.  I paid 2 of them down to zero balance last month and the other two i paid down considerably,  However, I just received a fico alert indicating that my score went down as a result of paying down one of my cards.  In all my years in the mortgage industry, I have never seen a fico score go down for paying down a card that was over the limit.  Any insight would be nice,

[bdhu2001]

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@Anonymous wrote:

Fico score

I am wondering if anyone could tell me if this site has its own scoring model.  I ask because had 4 credit cards that were over the limit.  I paid 2 of them down to zero balance last month and the other two i paid down considerably,  However, I just received a fico alert indicating that my score went down as a result of paying down one of my cards.  In all my years in the mortgage industry, I have never seen a fico score go down for paying down a card that was over the limit.  Any insight would be nice,

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If you kept one card with a balance, your FICO score should have gone up instead of down.  However, there are a few things that I can think of that could have happened in conjunction with your paying down your cards

1. Did either of the cards reduce your credit limit after you paid them off.  Sometimes cards do that if you go over your limit
2. Ck your report to make sure that something else didn't occur & that the payments hit (collection, late, public record,etc).
3. You could have changed score buckets.

Other than those ideas, someone else will have to give you a better idea of what has occurred.

[GFer]

And if it was buckets....you'll have the ability to go a LOT higher now!