How can Equafax lower my Fico Score before I get a billing statement?

[Madison]

Equafax just lowered my score 8 points because I had a $1,300 charge against a credit card and I haven't gotten my statement to pay it. How is it that they are that quick to lower my score but it takes 1 or 2 months for paying off credit cards in full to impact my credit score? This is rediculous that I don't get a chance to pay this before if impact my credit score.

[Anonymous]

They are reporting your statement balance- 

You have 4 options:

Pay the balance down prior to statement (affecting the $ reported)

Raise the CL of the account

Limit the use on the card in relation to your CL  

Don't stress over 8 points- you can get these back just by paying the account back down.

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Madison wrote:

Equafax just lowered my score 8 points because I had a $1,300 charge against a credit card and I haven't gotten my statement to pay it. How is it that they are that quick to lower my score but it takes 1 or 2 months for paying off credit cards in full to impact my credit score? This is rediculous that I don't get a chance to pay this before if impact my credit score.

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[CreditBob]

Hang in there!!!! All of us understand. Call the creditor and ask them when they close out the account for the month and report it to the credit bureaus. Knowledge is more powerful than money. Were you trying to get a new loan or line of credit? My cycle date is around the 27th-30th of each month. Tomorrow is a new day. In other words letb this be a learning experience for you.

[granny031350]

this happened to me as well.  However you can't win with JCP. Paid off before statement date, waited for new one to cut.  Charged 158.00 and voila, showed up on credit report.  One week zero, next week 158.00  They must report every week.  LOL

[Anonymous]

i was just about to post about evilfax too, lol

i bought my scores in march, 650/650/670 after bk discharge in july 2007.

got some new card around that time, saw pfico wamu free transunion sahve my score from 20 to gradually increase, this month being the biggest jump....650/636/637/655/680.

so i was excited (680 TU), thinking my other scores are probably getting better too.

WRONG...evilfax dropped me down to 620....a 30 point drop from march of 650.

i guess i shouldn't have used the credit card to book the hotel for my upcoming vacation....that probably messed up my utilization.

so i am hoping once the balances are zero again on my cards next month, i will get a boost?

[Anonymous]

Yep- 30 points is pretty easy to lose with utilization changes.

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whoisjohngalt7 wrote:
i was just about to post about evilfax too, lol

i bought my scores in march, 650/650/670 after bk discharge in july 2007.

got some new card around that time, saw pfico wamu free transunion sahve my score from 20 to gradually increase, this month being the biggest jump....650/636/637/655/680.

so i was excited (680 TU), thinking my other scores are probably getting better too.

WRONG...evilfax dropped me down to 620....a 30 point drop from march of 650.

i guess i shouldn't have used the credit card to book the hotel for my upcoming vacation....that probably messed up my utilization.

so i am hoping once the balances are zero again on my cards next month, i will get a boost?

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