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Score drops 20 points after paying 19$ balance on discover!

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Score drops 20 points after paying 19$ balance on discover!

It doesn’t make sense to me, I paid off my discover card 19$ balance to 0$. I usually leave that card with no balance on it. As soon as I did that my score dropped 20 points Please explain why my score would possibly drop 20 points, and is there way to prevent this, or is there something I’m doing wrong!

Thanks
Message 1 of 47
46 REPLIES 46
Regular Contributor

Re: Score drops 20 points after paying 19$ balance on discover!

How many other cards do you have reporting zero balance ?







Message 2 of 47
Established Contributor

Re: Score drops 20 points after paying 19$ balance on discover!

It sounds like you have no cards reporting a balance therefore the "all zero penalty".

 FICO 8
Message 3 of 47
Super Contributor

Re: Score drops 20 points after paying 19$ balance on discover!


@KINGOFTHEJUNGLE wrote:
It doesn’t make sense to me, I paid off my discover card 19$ balance to 0$. I usually leave that card with no balance on it. As soon as I did that my score dropped 20 points Please explain why my score would possibly drop 20 points, and is there way to prevent this, or is there something I’m doing wrong!

Thanks

Please provide clear information on what you are saying.

 

How many revolving accounts are there

Did they report balances

What do you mean "as soon as I did that my score dropped"

 


FICO 8: EQ 735 TU 760 EX 729 Total revolving limits 719k (592500 reporting)
Message 4 of 47
Super Contributor

Re: Score drops 20 points after paying 19$ balance on discover!

I'm not sure if this is a "no revolving credit use" penalty...

 

The OP states that he usually has a $0 [reported] balance on his Discover card.  If that's the case and he usually rolls with all zero balances across all cards, he should have seen a score gain last cycle when one of his cards finally reported a $19 balance instead of all zeros.  The of course those points gained would go away once that $19 reported as $0 again... but if the gain didn't come last reporting then the AZ penalty wasn't in place.

Message 5 of 47
New Visitor

Re: Score drops 20 points after paying 19$ balance on discover!

I have
Card/balance/credit limit
Sapphire -6300/21000
3 capital one cards
Venture -300 balance/3300
Quicksilver -1900 balance /2300
GMC 0/500
Discover 0/1200
Amex delta 0/1200
Amex blue 1500/2000
Merrick 0/500
Walmart 0/100
Mortgage 405k
City furn credit line 2000/10000
Gensis 4000/4500
Care credit 0/1000
Affirm 1000/2000

Message 6 of 47
New Visitor

Re: Score drops 20 points after paying 19$ balance on discover!

I have balmces
Message 7 of 47
Highlighted
New Visitor

Re: Score drops 20 points after paying 19$ balance on discover!

Didn’t gain points for that
Message 8 of 47
Established Contributor

Re: Score drops 20 points after paying 19$ balance on discover!

I think the score drop that you saw when you paid the Discover was coincidence and didn't directly cause the drop.  Your other balances reporting increased UTI would probably be more likely.

 

Let me guess again, are you using the myFICO alerts?  This would explain the confusion.

 FICO 8
Message 9 of 47
Super Contributor

Re: Score drops 20 points after paying 19$ balance on discover!


@KINGOFTHEJUNGLE wrote:
I have
Card/balance/credit limit
Sapphire -6300/21000
3 capital one cards
Venture -300 balance/3300
Quicksilver -1900 balance /2300
GMC 0/500
Discover 0/1200
Amex delta 0/1200
Amex blue 1500/2000
Merrick 0/500
Walmart 0/100
Mortgage 405k
City furn credit line 2000/10000
Gensis 4000/4500
Care credit 0/1000
Affirm 1000/2000


Paying off the Discover balance did not cause the score drop.

 

 


FICO 8: EQ 735 TU 760 EX 729 Total revolving limits 719k (592500 reporting)
Message 10 of 47
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