Significant Experian Score Drop

[Anonymous]

Hello,

Here's the sequence of events:

Thursday, May 24th, I paid off my currant AMEX statement balance of $363.69 (but about $350 will post on my next statement), and I paid $500. on my Chase balance, (My Chase balance is, admitedly, higher than I feel comfortable with, but I'm trying to build up points.).  My Chase account balance was about $1000 less than it was last month at the time I made the payment.  Over the weekend I put around $50. on my AMEX card.  That's it for credit activity.

Sunday, May 27th, I get an alert from Experian notifying me that my credit score increased by one point.

Today, May 28th, I get an alert from Experian notifying me that my credit score has dropped by 31 points!

I have a 100% ontime payment history with every account, and my credit utilization is at 24% (much higher than my average of 4-7%).

As for my other accounts, my Macy's account has a 6% utilization, J.Crew at 4% utilization (to be paid off tomorrow), Barney's at 0% utilization, and AmFirst Visa at 10% utilization.

Nothing else has changed.  I've not applied for any credit accounts, and none of my credit limits have increased, nor decreased.

What could account for such a dramatic drop in score?  I've looked at similar questions in these forums, and most times people insist that some sort of negative activity must have posted to one's credit files, but the only changes mine have seen are payments on my balances, and a couple quite small, normal charges.  I'm quite perplexed. 

[Anonymous]

What is the utilization on your Chase & Amex?

I have limited experience/knowledge, others here are awesome with everything credit... they'll post soon. But, your drop is about the same as my DH's when he put a huge$ tv on BestBuy card. Utilization was like 68%, his score had been EX FICO 818. His score dropped 30ish pts. 1st payment took it down to 28% and score rebouded by quite a bit. I don't remember exact data points, and he doesn't track it like I do mine.

edit... Util% had to have been 68%ish rather than my initial post of 58%

[Anonymous]

My Chase utilization is high.  It was at about 52% before the payment.  My AMEX is currently at 16%.  

I put all the travel expenses for a recent trip on the Chase Sapphire card for the extra points, but it'll be paid off by next month.  And the AMEX card has a high balance to meet the sign-up bonus requirements, but it'll also be paid off next month.

My Chase balance/utilization was higher last month, but there was no drop in my EX score then.

I take comfort in hearing that your DH's score rebounded.  Thanks for the response.

[JVille]

Give it a cycle and your score will likely Fix itself.

[Ardecko]

Also, if it's important for any other credit pull you have in mind, you do have Chase in your favor here. If you concentrate payments on this card and make it hit Zero, they'll announce that to the CRAs.

You can still put some balance back on it afterwards, if you're juggling, but having it hit or cross zero should trigger it.