Why did my credit score drop??

I completely pay off my capital one card bill twice a month sometimes every week if i can. But I just recieved an alert from FICO saying that my credit score dropped one point because my monthly statement was $200 more than it was last month. Does it do absolutely no good to pay off my bill???

Why did my credit score drop??

Nope, it doesnt do much at all to pay the card off.

Your credit score is mostly effected by simply paying your bills timley every month. The only think you want to aovid is letting your balance get over 50% of the card limit.. that can hurt your score a little. But otherwise how much pay every money does little if anything to effect your credit score.

Why did my credit score drop??

The creditors are assuming based on years of patterns that you, with increases in your statement, you will start ocurring late and or eventually no payments. They%26#039;re assuming the worst. Continue paying your statements in a timely fashion, not late, and in time your credit rating will rise again. FICO is only one of three major creditors in determining your true score, keep up the good work, your fine.

Why did my credit score drop??

Your score dropped one point due to your debt to income going up.

This is one of the things that factors into your score.

Yes it doe%26#039;s help to pay your bills in full every month and you will regain the one point in no time.

Considering that the scores can vary by 100-points from bureau to bureau, I would not worry about one point.

Why did my credit score drop??

Not carrying a balance can hurt your score in some cases. In your case, I think the statement came at a time when your payment hadn%26#039;t been received yet and it appeared that you were spending more than usual. Credit can be a funny thing, you may go down on one company%26#039;s scale but the other two may go up. It just happened to me. My car way paid off and that actually hurt my credit a bit because I wasn%26#039;t showing that I could carry a balance with a good payment history any more. I think the whole system needs to be redone...that%26#039;s probably why it is actually being looked into since all three credit reporters have different things that they look at and report. Good luck...I hope you get your point back:)

Why did my credit score drop??

Don%26#039;t worry about ONE point. It is very common for the same credit report to vary by 20 points or more in a month. In the big picture one point is basically no change. This would be the same if it went up a point instead of dropping.

Your balance is only reported monthly to the credit reporting agencies. So if you balance was at the time they reported it, and they usually post the highest balance for that period.

Now, in scoring they actually do want to see some balance that does not exceed 30% of your total credit limit. However, with Capital One they report your High Balance as your Credit Limit. This really causes problems with the credit scoring. So with them always pay it off just as you are doing.

Why did my credit score drop??

you should use the card and pay it off every month. they dropped you because you were in debt 200 more than last time they checked. use card but don%26#039;t spend alot on it, buy gas once a month with it and pay off as soon as you get bill...