Need help understanding why my credit dropped 4 points with my BOA CC

[Anonymous]

MyFico is reporting that my BOA account balance dropped from $19 to $4. As a result I lost 4 points.

Please explain and advise.

Thanks.

[myjourney]

More info needed 

Is there more than one card reporting a balance?

Did another card balance rise in UTL?

In order to help figure it out you'll have to provide a more clearer picture of your credit profile 

Hope this helps 

[Anonymous]

I only have one credit card with $1000 limit. Usually I use it for gas. I always pay everything and leave a $1 balance at the end of the month.

[Gunnar419]

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@Anonymous wrote:

I only have one credit card with $1000 limit. Usually I use it for gas. I always pay everything and leave a $1 balance at the end of the month.

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Well, first of all, I wouldn't worry about 4 points. And you might want to have two more cards just to decrease the impact felt from changes in the one account. That said, for all of us there's a mysterious "sweet spot" for utilization that varies between 1% and 9% (on one card).  It varies so much from profile to profile that no one can say exactly where somebody else's sweet spot is, but I think you just discovered that your personal sweet spot is a little higher than $4.

Or if you have anything else on your report besides the one card (any installment loan?), something else could have accounted for the change.

[myjourney]

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@Gunnar419 wrote:

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@Anonymous wrote:

I only have one credit card with $1000 limit. Usually I use it for gas. I always pay everything and leave a $1 balance at the end of the month.

---

Well, first of all, I wouldn't worry about 4 points. And you might want to have two more cards just to decrease the impact felt from changes in the one account. That said, for all of us there's a mysterious "sweet spot" for utilization that varies between 1% and 9% (on one card).  It varies so much from profile to profile that no one can say exactly where somebody else's sweet spot is, but I think you just discovered that your personal sweet spot is a little higher than $4.

Or if you have anything else on your report besides the one card (any installment loan?), something else could have accounted for the change.

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+1 to sweet spot 

Mine is different and has changed each time I've added TL's 

The trick is to find yours and maintain it at that point 

[NRB525]

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@Anonymous wrote:

MyFico is reporting that my BOA account balance dropped from $19 to $4. As a result I lost 4 points.

Please explain and advise.

Thanks.

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+1 to needing more information.

OP how long have you had the credit card? What are your MyFICO scores?

(4 points can usually be considered noise anyway)