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How is this possible? I'm lost!!!?

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erin62777
Member

How is this possible? I'm lost!!!?

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Message 1 of 21
20 REPLIES 20
Anonymous
Not applicable

Re: How is this possible? I'm lost!!!?

Equifax is weird when it comes to balance changes. It does the same thing to me. 

Message 2 of 21
tonyjones
Valued Contributor

Re: How is this possible? I'm lost!!!?

The question is what was your overall credit utilization among all your cards and the individual ones before and after.

Current Fico Scores: (November 2024)
Message 3 of 21
Anonymous
Not applicable

Re: How is this possible? I'm lost!!!?

I lost 14 points for paying one card off, 9 more points for paying another small balance off (not just EQ) . I still have a card with a balance. I am calling BS that the models prefer 1 card with under 10% utilization. I had better scores when at least 2 cards carried a balance - 3 counting a small balance as an AU.

Message 4 of 21
tonyjones
Valued Contributor

Re: How is this possible? I'm lost!!!?


@Anonymous wrote:

I lost 14 points for paying one card off, 9 more points for paying another small balance off. I still have a card with a balance. I am calling BS that the models prefer 1 card with under 10% utilization. I had better scores when at least 2 cards carried a balance - 3 counting a small balance as an AU.


Yeah FICO seems not to like $0 reporting on any balance, so maybe leave 1-9% balance on all cards? 

Current Fico Scores: (November 2024)
Message 5 of 21
erin62777
Member

Re: How is this possible? I'm lost!!!?

Ok. That particular card went from 2k to 7k last month and I lost 25 points via equifax. Overall I owed 12-13000 now I owe about 6k. So as u see I paid down 1750 and I lost another 6 points!!!!

 

 

i can easily screenshot the one where I lost 25 points. I have no reason to lie. Like I said before I paid chase 3k in total to 0 gained 0 points!

 

like another poster stated I had higher scores when balances were high! I get punished for paying stuff down!

Message 6 of 21
erin62777
Member

Re: How is this possible? I'm lost!!!?

TU is 705 and exp is 693 now equ is 670 they keep on screwing me

Message 7 of 21
tonyjones
Valued Contributor

Re: How is this possible? I'm lost!!!?


@erin62777 wrote:

TU is 705 and exp is 693 now equ is 670 they keep on screwing me


In time it will bounce back, I always assumed credit utilization was in real time but from reading all these threads I'm not so sure anymore. My utilization amongst all my cards is around 70% right now, we'll see what my score is once I bring it down.

Current Fico Scores: (November 2024)
Message 8 of 21
sam3552
New Member

Re: How is this possible? I'm lost!!!?

The Exact same thing happend to me. Paid off a 1600.00 balance on a CC and took a 20 point Equifax hit. 😡

Message 9 of 21
NRB525
Super Contributor

Re: How is this possible? I'm lost!!!?


@erin62777 wrote:

Ok. That particular card went from 2k to 7k last month and I lost 25 points via equifax. Overall I owed 12-13000 now I owe about 6k. So as u see I paid down 1750 and I lost another 6 points!!!!

 

 

i can easily screenshot the one where I lost 25 points. I have no reason to lie. Like I said before I paid chase 3k in total to 0 gained 0 points!

 

like another poster stated I had higher scores when balances were high! I get punished for paying stuff down!


What is your overall utilization percentage? $13k outstanding is what utilization percentage? Do you have any new CC added, apped, recently?

What is the age of your cards and credit file?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 10 of 21
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