Hi,
I'm trying to make sense of this scoring structure. I have a credit limit of $16,100 on my Navy Federal card and I've been keeping my reported balance under $2K or at $0. I had a big purchase in September and my reported balance increased from $27 to $5718. As a result, my score only went down from 722 to 712. When I paid $750 to zero out my other credit card (Chase Southwest), my score increased from 712 to 724.
In October when I paid down my Navy Fed balance to $3085, my score only increased six points from 724 to 730.
But this morning, after paying my balance down last week by $1000 to $2085, my score has increased from 730 to 815! How is this possible? It seems like when I paid down my balance in full or larger amounts, I only gain a few points. Now I have massive 85 point increase and am wondering if my other scores will have similar increases or there is an error in the scoring. Is this common? I was planning to pay off the remaining balance this week but should I instead just pay small amounts and hope my score doesn't go down?
Thanks.
