@Sabine wrote:I don't understand why my score went from 832 to 820 for absolutely no reason this month. The only change was that I paid off my Amex.
Speaking of Amex- they don't report a credit limit?
1. What score?
2. Where are you getting the score from?
3. Is the Amex card a charge card or a credit card with a fixed credit limit?
4. What other cards do you have?
5. What were their limits?
6. What were their balances at the time you paid off the Amex card?
@Sabine wrote:
@SouthJamaica wrote:
@Sabine wrote:I don't understand why my score went from 832 to 820 for absolutely no reason this month. The only change was that I paid off my Amex.
Speaking of Amex- they don't report a credit limit?
1. What score?
EQ
2. Where are you getting the score from?
myfico.com3. Is the Amex card a charge card or a credit card with a fixed credit limit?
no limit - it's a platinum card
4. What other cards do you have?
chase freedom, chase inc, cap 1
5. What were their limits?
15k, 25k, 5k
6. What were their balances at the time you paid off the Amex card?
I pay the balance off each month. My total utilization is 0%
OK so there you have it. The Amex charge cards are not counted towards utilization.
So what you had was your 3 regular credit cards reporting zero balances, which caused you to incur the "all zero" penalty.
Your paying off the Amex charge card was irrelevant, and did not affect your scores.
@Anonymous wrote:
@SouthJamaica wrote:
@Sabine wrote:
@SouthJamaica wrote:
@Sabine wrote:I don't understand why my score went from 832 to 820 for absolutely no reason this month. The only change was that I paid off my Amex.
Speaking of Amex- they don't report a credit limit?
1. What score?
EQ
2. Where are you getting the score from?
myfico.com3. Is the Amex card a charge card or a credit card with a fixed credit limit?
no limit - it's a platinum card
4. What other cards do you have?
chase freedom, chase inc, cap 1
5. What were their limits?
15k, 25k, 5k
6. What were their balances at the time you paid off the Amex card?
I pay the balance off each month. My total utilization is 0%
OK so there you have it. The Amex charge cards are not counted towards utilization.
So what you had was your 3 regular credit cards reporting zero balances, which caused you to incur the "all zero" penalty.
Your paying off the Amex charge card was irrelevant, and did not affect your scores.
I find your answer to be confusing. Amex charge cards do not factor in utilization, but do factor in AZEO correct? So the paying off the Amex charge card to 0 balance would be the reason for the score drop. All reporting zero?
No they don't factor into the all zero penalty, or into all-zero-except-one planning.
@Sabine wrote:Thank you!
The 0% utilization estimate came from my report summary, but I do have a $200 balance on my chase.
i didn't really do anything radically different this month. I always pay off my statement balance on each cards to avoid interest. This month I just paid the total balance instead of the statement balance.
Honestly, I don't think it matters whether my score is 832 or 820 , it's all in the same bracket?
Remember with Chase cards, if you pay them down to zero before the next statement cuts, they will report that zero balance right away, and not wait for the next statement.