What the hell, MyFico?

[Anonymous]

I know the alorithms you use are your business and you don't want to give anything away, but explain this:  I have seven cards.  I use one or two almost exclusively.  I always pay them off before the end of the month but leave a small balance, just so MyFico knows I'm using the cards.  My balance this month was $2.00 on my Amex card.  When the bill came due I paid the $2.00 off.  Then I get an alert from MyFico saying my score has dropped 24 points because "Your total balances have decreased by $2.00."  Yes, decreased to 0% because I paid the balance.  Why would that make my score drop 24 points?  What exactly do you want?  Do you have a random generator that picks names at random and drop their scores, just to mess with people?  And with the high MyFico fees shouldn't you give us reasons why our score went down rather than the generic, "We monitor you usage and..." pop-up that tells you (or rather doesn't tell you) exactly why this made your score go down and how to fix it? 

God, I hope Elizabeth Warren and her supporters can put an end to this secret ruling of our lives by FICO.  I'm doing everything right for the last three years and get a 24 point drop because I PAID MY CARD OFF? 

[tufa4311]

Are you sure that during the cycle in question you had a least one balance report? Do you see a balance one CK or your credit report during that cycle?

[NRB525]

If you only use two cards, and both those cards report zero at the same time, and the other 5 cards are already at zero, you will lose points

You should always ensure that at least one card reports some amount. If you don't have any debt showing on your credit report, the FICO scores can't get a good read on your current activity, you lose points.

[mitchblue]

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@NRB525 wrote:

If you only use two cards, and both those cards report zero at the same time, and the other 5 cards are already at zero, you will lose points

You should always ensure that at least one card reports some amount. If you don't have any debt showing on your credit report, the FICO scores can't get a good read on your current activity, you lose points.

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He said one reported $2.

[lg8302ch]

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@mitchblue wrote:

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@NRB525 wrote:

If you only use two cards, and both those cards report zero at the same time, and the other 5 cards are already at zero, you will lose points

You should always ensure that at least one card reports some amount. If you don't have any debt showing on your credit report, the FICO scores can't get a good read on your current activity, you lose points.

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He said one reported $2.

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But OP also mentioned a trigger about 2$ lower balance which to me would mean a 0 balance on that account ?

[syeb]

I can't tell you why your score dropped but I can say that the reason given in MyFico alerts is not the reason the score dropped. Whenever there is a trigger event you receive an alert and the latest  score change is bundled together with the alert.

Again - the reason given in the alert is not necessarily, and in fact is usually not the reason for the score change.