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Hello, I've been working to increase my credit score since we recently bought a house which made it drop to the 670 range. Just last week it was up to 689 and then it suddenly dropped to 677. When I checked, it showed a new $29 charge on my old Discover card which I haven't used in over a year. The $29 was an annual renewal fee for a Wordpress site that I'd forgotten about. I immediately paid the $29 so I'm hoping it'll bring my score back up. It said I had too many accounts with balances which isn't true. Why would this minor charge on an old card impact my score like this? I only use one card now - a Macys - and that's it.
First of all, don't worry. The impact of that extra card reporting a balance will be short-lived. You should gain back all the points you lost as soon as it reports a zero balance.
FICO scores not only on your overall credit utilization and individual utilization per card, but also on the number of cards reporting balances. Even a couple of cards can be "too many." It may seem silly, but that's what they do. Recovery will be quick.