Score Watch Alert -18 points for using an account?

[Anonymous]

I am having a sneaking suspicion that this service is doing nothing for me other than making my blood boil...

I havent heard SQUAT from this site since September 3rd, when I got my last score watch alert informing me that my score went up to 762. Since that time, I completely paid off my Best Buy credit card - but my score was not affected whatsoever by paying off a balance of $1200+ in a lump sum. 

Since I have paid it off, I have bought a total of $305 of new stuff on the card. And I get a Score Watch Alert informing me that my score has DROPPED 18 points because I am using my credit like they want me to? WTF?!?!?! By all means, please inform me when an account balance rises by $300 or more, as I have requested - but why is putting a $300 charge on a credit card with a $2200 limit and ZERO balance costing me 18 friggin points? (and, I made a $150 paymenht to it this weekend - so it's actually only a $155 balance right now... how unfair is that? try to use the credit and pay it immediately, and that costs me on my credit score?)

I sent in my last car payment this month as well. If paying off my car is also going to "hurt" my credit score, then what is the point of it all? If my score doesnt go back up soon, I will be cancelling this blood boiling service, as it is otherwise USELESS. 

[Anonymous]

Anyone? anyone have any knowledge of why this might have happened or what I can do to correct it?? Because this seems REALLY weird to me....

[marty56]

Bar onything else going on, your util went to 15% which probably was the culprit in your score drop.  Also if you had any other CCs reporting a balance, you may have gotten dinged for too many accounts with a balance.

Best results happen when your util is between 1% and 9% and only 1 or 2 cards report a balance

Message Edited by marty56 on 11-03-2008 04:27 PM

[haulingthescoreup]

Did you re-set your target score to your new score?

You should set the target score to your most recent know score, the moment you know it. That way you'll be alerted if it moves either up or down.

[Junejer]

My question would be is the $305 reported or is $0 reported. Clearly, 0% util is bad for scores.

[marty56]

I lost 6 points for having 0% util on EX.  Anyone know if you get dinged more if you have no loans with a balance on your CR vs no CC reporting a balance?

[GFer]

Marty, do you mean you paid off an installment loan or other loan? If that is true and my understanding is correct about that statement, does this mean you have no installments reporting a balance or open on ex?

[CreditAble]

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@marty56 wrote:

I lost 6 points for having 0% util on EX.  Anyone know if you get dinged more if you have no loans with a balance on your CR vs no CC reporting a balance?

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You will definitely get dinged

pretty close to 6 points every time if you have $0 revolving balances.

Furthermore:

 If I have all $0 balances on all revolving tradelines, my score will increase 6 points (+/-1 point) if I allow one revolving tradeline to report more than $150.

 If I only have a $100 balance reporting on the sole revolving tradeline I do not get the 6 point increase.

 Anyone with current outstanding revolving balances of $500 or more can play with the FICO simulator and should be able to observe the phenomenon. 

Message Edited by CreditAble on 11-04-2008 02:59 PM

[marty56]

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@GFer wrote:
Marty, do you mean you paid off an installment loan or other loan? If that is true and my understanding is correct about that statement, does this mean you have no installments reporting a balance or open on ex?

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Just CC balances.  I have a mortgage and car payment.