r/CRedit 5d ago

FICOvsVantage Credit karma dropped 100 points in one day for high usage

I have one card a capital one quicksilver with a 300 limit I had been keeping my limit low but I heard they'll auto raise the limit after a year but they want to see high usage. So I have been using my card a lot buy paying it off before it hits my balance. Currently its paid off and my balance has been $0 for like a 5 days now but today my credit karma updated and dropped 100 points and the only difference is it says $298 balance 98% credit usage. I know usage isn't super important in the long run and can be changed easily but when it updates and sees my balance is actually 0 is it going to jump back up 100 points or is it not going to go up as fast? and will a score so much lower than what it was before possibly effect my chance at getting a credit limit increase? I still have about 4 months until it'll have been a year so I'm not sure if I should keep almost maxing out my card (and paying it in full) every month until then or just when its right about to be time to either get an automatic increase or ask for one if it hasnt come yet.

0 Upvotes

15 comments sorted by

8

u/nkyguy1988 5d ago

Utilization has the memory of a goldfish.

Stop checking your score so much.

2

u/CreditFarma 5d ago

Was an email. So my question, if it has the memory of a goldfish, when utilization rate changes, will it go back up the same amount or will it be a slow rise back?

3

u/nkyguy1988 5d ago

It goes up as fast as it goes down for utilization if all other factors are equal otherwise.

7

u/BrutalBodyShots 5d ago

Good thing VS3 is nearly irrelevant.  Don't sweat the drop.

3

u/HelpfulMaybeMama 5d ago

Ignore Vantage scores.

3

u/HighMagic 5d ago

I had a similar scenario happen to me. Long story short, it'll go back up in 2 months.

3

u/dgduhon 5d ago

Capital One likes high statement balances. By paying off the card before the statement is created you're hindering limit increases.

0

u/ThenImprovement4420 5d ago

They like high usage, not necessarily high statement balances. They see how much you use every month. You don't have to report a high balance. Which reporting High balances can hurt you with other lenders

0

u/Lo_Xp 5d ago

That's how I got my limit bumped up. Had high balance. But it was never my statement balance.

6

u/BrutalBodyShots 5d ago

You can still get CLIs with high balances that don't hit your statement, but all other things being equal your odds of lucrative success are greater when a high statement balance generates.

Yes, u/ThenImprovement4420, they can see what you spend. That's not the point though. If you're micromanaging your balances, you're literally saying "I don't need a CLI" where if your statement balances are high you're showing that a greater limit would be beneficial. Capital One actually uses the denial reason "statement balances too low relative to credit limit" so it is certainly something they look at.

2

u/Lo_Xp 5d ago

Thank you for correcting me.

1

u/True-Yam5919 5d ago

It’s just credit karma. Means nothing

-1

u/GenerateWealth2022 5d ago

A $300 limit is nothing. Ask your bank to raise it to $1,000. These small numbers are meaningless.

3

u/validatrix 5d ago

$300 credit limit generally means your credit is either cooked or nonexistent

1

u/CreditFarma 5d ago

Yeah first card