Bump at 70% utilization?

[littlepriest01]

Hello All,

I'm paying down credit cards. Last week I was down to 71%, this week 66%. I just got an alert that my score went from 631 to 647!!!

Could this be real? I didn't think there was a bump in the 60's-70's, just under 50. Should I trust this?

Thanks

[youngandcreditwrthy]

Is that a fico, fako, or vantage? Ive noticed the VantageScore is extremely util sensitive

[littlepriest01]

This is the equifax score pulled from myFico, and the strange thing is my FAKO scores from usaa haven't changed at all.

[solxp]

Its a sliding scale that has bigger bumps or drops at each end of the scale. 

totally made up numbers 

0-9%   9-19%   19-29%     29-39%     39-49%   49-59%   59-69% 69-79% 79-89% 89-99% 99-109%

 +50    +50-31   +31-+20  +20-+15   +15-+10     +10-+0     0--5        -5--10    -10-30   -30--50    Ninjas coming for you

[littlepriest01]

So, it would seem that one bracket did lie in the 67-68% range, because it wasn't until one credit card reported 100$ lower that it moved.

The interesting thing is that I got a 19 point bump when I went from 92% down to 71% percent.

Then it stayed steady until I got down to 66%, where I got another 16 point jump.

[solxp]

Keep in mind I totally made up the numbers to illustrate the concept. No one know what the actually number range is except Skynet.

[zerobacan]

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@solxp wrote:

Keep in mind I totally made up the numbers to illustrate the concept. No one know what the actually number range is except Skynet.

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muhahahaha

[littlepriest01]

Right, just relaying my own experience today. I find it somewhat disheartening though to know that you could be a half a percentage point off from a level, and not have dropped any points, then hit that half a percentage point, and suddenly be up 16 points. 

I mean they don't give partial credit with these things? 

[solxp]

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@littlepriest01 wrote:

Right, just relaying my own experience today. I find it somewhat disheartening though to know that you could be a half a percentage point off from a level, and not have dropped any points, then hit that half a percentage point, and suddenly be up 16 points. 

I mean they don't give partial credit with these things? 

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There is no need to be disheartened by things beyond your control. Pay your bills on time do not be late, never miss a payment. Keep spending within your means,  Do these things which you have 100% control over and you will find companies beating down the door to offer you credit. Take only the offers that are good for you.

Who cares if your score is 850 or 760 or 700 with any of those scores and responsible spending and payment history you will have plenty of good credit options available to you. The store clerk taking my Amex doesnt give a crap if my score is 850 or 700 as long as the transaction goes thru. There was a very good article in recent weeks about how alot of people have harmed there score by chasing after the mythical 850.

The only time your score matters is when your applying for credit and then it only matter as far as Did I get approved and Did I get best terms available. I PiF every month but I do not micro manage my payments to ensure balances never post does this hurt my score. Yes according to the general consensus but I can fix that any month I need to simply by just PIF before the statement cuts and inflate my score for the next month if I need to apply for something.  The guy with 740 score is going to get same mortage rate as the guy with a 850 and his approval will come down to income not his score. 

[LS2982]

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@solxp wrote:

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@littlepriest01 wrote:

Right, just relaying my own experience today. I find it somewhat disheartening though to know that you could be a half a percentage point off from a level, and not have dropped any points, then hit that half a percentage point, and suddenly be up 16 points. 

I mean they don't give partial credit with these things? 

---

There is no need to be disheartened by things beyond your control. Pay your bills on time do not be late, never miss a payment. Keep spending within your means,  Do these things which you have 100% control over and you will find companies beating down the door to offer you credit. Take only the offers that are good for you.

Who cares if your score is 850 or 760 or 700 with any of those scores and responsible spending and payment history you will have plenty of good credit options available to you. The store clerk taking my Amex doesnt give a crap if my score is 850 or 700 as long as the transaction goes thru. There was a very good article in recent weeks about how alot of people have harmed there score by chasing after the mythical 850.

The only time your score matters is when your applying for credit and then it only matter as far as Did I get approved and Did I get best terms available. I PiF every month but I do not micro manage my payments to ensure balances never post does this hurt my score. Yes according to the general consensus but I can fix that any month I need to simply by just PIF before the statement cuts and inflate my score for the next month if I need to apply for something.  The guy with 740 score is going to get same mortage rate as the guy with a 850 and his approval will come down to income not his score. 

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Good advice!!