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Posted in Credit Cards
What the heck happened?
I payed my over all credit limit down from 88% to 50% available and my score dropped from 715 to 663. WTF ....I have no new inquiries. No late payments. I'm puzzled and ****ed. Please help me understand what might have happened to explain this phenom.
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Question By
is300

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Did your other credit report card metrics change? 

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Response by
AppleRules

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Is any single card at a high utilization? If your overall utilization is lowered but you have one card maxed out, that still looks bad. Sometimes it might seem like a great idea to shift everything to one card with a great balance transfer rate, but it could drop your score. Also, check to make sure that your credit limits are the same. In the past few years, many banks have lowered credit limits. If you paid down a big chunk and think you've lowered your utilization, it's possible that the banks lowered your limits as well and your utilization is now just as high or higher than before. A final possibility: did you have any cards that you had previously closed but still held a balance that you've now paid off? My understanding is that while an account has a balance, it still counts toward your overall utilization as if that credit is fully available, but once it's paid off in full, it is listed as closed and it goes away as an open account. If you had that happen, then your average age of open accounts would have changed as well.

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Response by
jhrhodes

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check the other 2 scores not just one, you may have missed something.  

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Response by
matman1490

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