On the Xbox One, to preface this. I just went to pick up my Trials of Osiris stuff for the weekend. I grabbed some Three of Coins and HA Synths from Xur and left the Reef. When I got to orbit, I found that where I was previously 334 light, I am now 307 light. At first I thought it was just a minor glitch, so I switched some armor around and nothing changed. I tried switching characters, and my Warlock is still 307.
So at this point, I was hoping that this was just a bug, and tried to play some Trials. Nope, that fake 307 REALLY counts! I got wrecked, despite having a ton of 335 gear on.
What do I do? I'm afraid to nerf my other two characters, by logging into them.
Needless to say, I am furious.
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Not a glitch. As others have pointed out, you're wearing Dead Orbit's Exotic class armor and you're pledged to another faction. The class armor has a Light value of 0 if you're not pledged to Dead Orbit.