Reply
Valued Member
alakazam
Posts: 47
Registered: ‎05-03-2012

16pt drop for utilization

[ Edited ]

So I have this crap1 and due it it's ridiculous low limit I always max it and pay it off within a day or two. And of course, it reported on the transition 2 days between my payment and now I had 90% util... and my score dropped from 681 to 665 just when I wanted a shot at another card... and I have been app-free since July (and going to Europe until February, so no apps, just building)... I wanted to get another card when I came back, but this 16pt drop is only setting me back.

 

I guess I will not use this card at all so it reports 0% util... seriosly... for somebody that put over $10K  through it in the past 7 months, this is the thanks I get? I always pay off 2-3 days after my util climbs up, and for the last 5 days it has been at 5-10% util, but creditsessame came back with a drop today... sad news.

 

Should I just not use the card in the next 2 months? I really wanted to get a better card by Feb and have a 700 score... 

P.S. no late payments ever, always paying in full, put over $10K through in the last 7 months, no apps since July.

Frequent Contributor
newportguy
Posts: 351
Registered: ‎11-11-2012

Re: 16pt drop for utilization

In order to get your highest score from utilization you need for it to be at 1% at the time they cut your statement. You can still use the card just make sure it's at 1 % at the time they cut your statement.


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Valued Member
alakazam
Posts: 47
Registered: ‎05-03-2012

Re: 16pt drop for utilization

[ Edited ]

I saw my statement. Day after Black Friday... very nice of them....

I'll try to get that 1% for December and keep it for January as well. Hopefully my score rebounds in those 2 months.

Frequent Contributor
newportguy
Posts: 351
Registered: ‎11-11-2012

Re: 16pt drop for utilization

[ Edited ]

Also remember on total revolving CC acounts that 1% is better than 0% on total revolving accounts.


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Valued Contributor
creditnocash
Posts: 2,175
Registered: ‎07-23-2012

Re: 16pt drop for utilization

there is really a 2-3 point difference from 7% to 4% that ive seen 

and thats with 2 cards reporting. 

 

 

atm i have 2 cards reporting 

best buy and american eagle(waiting for this to update) 

but then walmart snuck by me. so there is 245 replaces the 185...

 

 

if you wont be here to app i wouldnt worry about it. 

just make sure you have payments set up on your cards to make sure you dont miss any in the next few months. 

 

Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)

Starting total revolving credit: $2600 | Current total revolving credit: 31k+

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Frequent Contributor
newportguy
Posts: 351
Registered: ‎11-11-2012

Re: 16pt drop for utilization


creditnocash wrote:

there is really a 2-3 point difference from 7% to 4% that ive seen 

and thats with 2 cards reporting. 

 

 

atm i have 2 cards reporting 

best buy and american eagle(waiting for this to update) 

but then walmart snuck by me. so there is 245 replaces the 185...

 

 

if you wont be here to app i wouldnt worry about it. 

just make sure you have payments set up on your cards to make sure you dont miss any in the next few months. 

 


And if you take that 4% down to 1% , then you would gain another 3 points


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Valued Contributor
Swapmeet
Posts: 1,307
Registered: ‎11-10-2012

Re: 16pt drop for utilization

[ Edited ]

newportguy wrote:

creditnocash wrote:

there is really a 2-3 point difference from 7% to 4% that ive seen 

and thats with 2 cards reporting. 

 

 

atm i have 2 cards reporting 

best buy and american eagle(waiting for this to update) 

but then walmart snuck by me. so there is 245 replaces the 185...

 

 

if you wont be here to app i wouldnt worry about it. 

just make sure you have payments set up on your cards to make sure you dont miss any in the next few months. 

 


And if you take that 4% down to 1% , then you would gain another 3 points


Wow! After all the hype over utilization I have read here in the last month, it is the case that I might get a whopping 3 points for keeping it down to 1%? Tenuous, at best. I am bummed now... Sorry for the intrusion alakazam, but this is a real letdown.

 

My Wallet: WalMart: ||13.5k|| USAA Platinum MC: ||13k|| Amex Delta Gold: ||2k||; BCE: ||9k|| Chase Freedom Siggy: ||10k||
Discover it: ||6.5k|| SG Visa: ||11k|| USAA World MC: ||13k|| US Bank Cash+ Siggy: ||5k|| Citi TYP World MC: ||10.5k||
Barlays Arrival World MC: ||10k||
Fico Scores: EQ 760 (SW),TU 757 (Walmart), EX 738 (myfico) Last app: Arrival World MC 2-1-14
Frequent Contributor
newportguy
Posts: 351
Registered: ‎11-11-2012

Re: 16pt drop for utilization

[ Edited ]

Swapmeet wrote:

newportguy wrote:

creditnocash wrote:

there is really a 2-3 point difference from 7% to 4% that ive seen 

and thats with 2 cards reporting. 

 

 

atm i have 2 cards reporting 

best buy and american eagle(waiting for this to update) 

but then walmart snuck by me. so there is 245 replaces the 185...

 

 

if you wont be here to app i wouldnt worry about it. 

just make sure you have payments set up on your cards to make sure you dont miss any in the next few months. 

 


And if you take that 4% down to 1% , then you would gain another 3 points


Wow! After all the hype over utilization I have read here in the last month, it is the case that I might get a whopping 3 points for keeping it down to 1%? Tenuous, at best. I am bummed now... Sorry for the intrusion alakazam, but this is a real letdown.

 


If your utilization is at 90% like you quoted on your post !!!! Then you would get a big jump ...  I was ONLY STATING if your utilization was at 4% and went down to 1% you would get the 3 point jump


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Valued Member
alakazam
Posts: 47
Registered: ‎05-03-2012

Re: 16pt drop for utilization

Yeah, like I said, it was 90% for like 3 days until my payment posted...

 

I hope I get to 690-700 by the time I come back from Europe in Feb. I'll try to buy a pack of gum to get the 1-3% range.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+