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Surely something other than paying off a card and having your limit increased caused your score to drop. Just because both pieces of info are on the alert doesn't mean one caused or even had anything to do with the other. And I'm assuming you didn't close the card after payoff?
A few things an inquiring mind might want to know....Any other recent changes to your credit report? What was your util before and after the payoff? Over what time period did the drop occur? Which bureau? Did this occur at more than one bureau? If you have before and after reports, any changes in the reason codes?
FICO does not like $0 reporting balance for any revolving cards!
Notice $0 balance you get dinged. 1-9% is deal.
That is the only things that has happened within 3 or 4 days. It only dinged my highest score, Experien. I have been paying down my cards the past 60 days.
I thought it was good to pay off all your cards except one, and on that one keep a balance around 9%.
@KeithW wrote:
I paid off one of my credit cards, and the credit limit increased from $2k to $2250. My FICO shows this update and drops my score 13 points!
Has happened to me on more than one occasion. The most recent pay off of my only card reporting, ( my fault ), dropped me from 805 to 794. I let the same card report about the same amount the next month, and I did not get one point back. Now, a month later, and still no return of any lost points. Fico takes away faster than it returns. Shame on us for paying off our debts.
I got a Score Watch alert Saturday that my score went up 5 points. There were no alerts that anything else happened. Then I got an alert today that it went down 5 points, still with no alerts that anything else happened. The reason has never been clear why they don't include in each score-change alert the exact reason why the score changed. I wonder how many Score Watch subscribers cancel their subscriptions for that kind of reason. Maybe that's why some years they make it hard to cancel. Maybe hoping to keep more subscribers that way, because it's too hard to provide useful information in Score Watch alerts, as that would require a change in their programming, which would be work, and we only pay them mere money. In any case, mine expires soon, and I'm going to cancel it, no matter how hard they make it to cancel.
I know what you mean I am expereincing the same things myself