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Equifax is weird when it comes to balance changes. It does the same thing to me.
The question is what was your overall credit utilization among all your cards and the individual ones before and after.
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.
@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?
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!
TU is 705 and exp is 693 now equ is 670 they keep on screwing me
@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.
The Exact same thing happend to me. Paid off a 1600.00 balance on a CC and took a 20 point Equifax hit. 😡
@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?