Score dropped 56 points when I used an old card

[Anonymous]

Does anyone know why my score would drop 56 points when I used a dormant card?  I charged less than 10% of the available credit.  

Also, is there a customer service number for FICO?  Why aren't they accountable to consumers for explaining how they score?

[Kforce]

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@Anonymous wrote:

Does anyone know why my score would drop 56 points when I used a dormant card?

I charged less than 10% of the available credit.  

Also, is there a customer service number for FICO?  

Why aren't they accountable to consumers for explaining how they score?

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1) How long a card has not been used is not a scoring factor.

2)  Ideal utilization is less than 8%, and some say even less than 5%

3)  56 points is most likely from something else, or a combo of many things.

4)  Most places that provide your scores show what factors are hurting them, I do not believe Fico has such a customer support system in place.

[Anonymous]

Thank you, but the only change listed is that I used this card. I just realized the limit is only 2k and I charged $400, but that should not be a 56 point drop.  It doesn't make sense!!!

[FireMedic1]

Where are you seeing this?

[SouthJamaica]

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@Anonymous wrote:

Does anyone know why my score would drop 56 points when I used a dormant card?  I charged less than 10% of the available credit.  

Also, is there a customer service number for FICO?  Why aren't they accountable to consumers for explaining how they score?

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In response to your question, no I do not know any reason for any FICO score to drop from your use of an unused card.

[Anonymous]

I checked all the sites, CreditKarma, Experian, CreditSesame, and Credit.com.  One change, use of my old card.  $400 charge against $2k limit. 

[tcbofade]

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@Anonymous wrote:

I checked all the sites, CreditKarma, Experian, CreditSesame, and Credit.com.  One change, use of my old card.  $400 charge against $2k limit. 

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CreditKarma, CreditSesame, and Credit.com give Vantage scores, not Fico scores.

I absolutely believe that your Vantage score may have taken such a drastic drop.

I doubt that your Fico score did.

[Anonymous]

According to these sites they're using Fico8 or Fico9...

[Kforce]

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@Anonymous wrote:

According to these sites they're using Fico8 or Fico9...

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Copy and paste from Credit Karma Page

 "On Credit Karma, you can get your free VantageScore 3.0 credit scores from Equifax and TransUnion."

Last I checked CreditSesame, and Credit.com also used Vantage scores.

Vantage and Fico Scores can vary a great deal.

[pakratus]

I thought I've read that carrying a balance on more than 40% of your cards can ding your score.  Would that apply to you?

I attempted to search, I thought it was mentioned in the FICO AMA thread.  Maybe I was skimming too fast.  All I could find is-

From We’re Tom Quinn & Tommy Lee - FICO Score Experts! Ask us anything. 

"Paul Panichelli, Principal Scientist: Both the number and percent of accounts with balances can be factors in a FICO Score calculation.  In some cases (consumers with less credit history and/or fewer accounts), even one or two accounts with balances may be too many."