Score plung

[Anonymous]

Ok so I have a balance of $56 on my credit card and I went on and paid it a. A couple of weeks later I received a fico update about score drop by 17 points & the reason was I paid off my $56 balance. Anybody care to explain why paying off your credit card balance drops your score

[FinStar]

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@Anonymous wrote:
Ok so I have a balance of $56 on my credit card and I went on and paid it a. A couple of weeks later I received a fico update about score drop by 17 points & the reason was I paid off my $56 balance. Anybody care to explain why paying off your credit card balance drops your score

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There would be other factors that would have caused your FICO score to drop.  The payment alone would not necessarily drop your score by that much. 

[Revelate]

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@Anonymous wrote:
Ok so I have a balance of $56 on my credit card and I went on and paid it a. A couple of weeks later I received a fico update about score drop by 17 points & the reason was I paid off my $56 balance. Anybody care to explain why paying off your credit card balance drops your score

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Is that your only CC or are all of the rest of the CC's at $0 balance as well?

Having zero reported balances across your revolving tradelines (credit cards, lines of credits) is a straight penalty in all FICO algorithms in common use.  Let a balance report on one of your cards and you'll gain the points back in that scenario.

If that's not the case, likely something else changed in your file that simply wasn't picked up by the monitoring solution.