CLD again - US Bank

[CreditMagic7]

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@racer-x wrote:

IWOL - In Jan. '12, my EQ was 745.  I had a $3500 CC with my CU and a $500 CapOne.  App spree began then.  My EQ actually dropped 100 pts in that year.  AAoA was very low, new accts, etc...But over time and as INQ's had less of an impact, I was back in the 700s. 

In June '13 when I bought the Harley, EX was 722.  TU has never been higher than about 712. 

Point is, my scores were higher at one point.  Utilization gradually went up, a few more accounts and INQ's and my upward progress in scores slowed.

Not gardening completely for a year, and picking up an account here and there, kept my score from climbing.

As you can see in my Walmart TU graph, my TU went down the last 3 months last year, but will jump considerably next month once all these PIF accts report completely.

But then again, how is that 95% utilization going to look next month on my US Bank acct?.

Can anybody explain how US Bank told me that TU sent them a score of a low 600?  That's just incredible and an obvious mistake on someone's part.  I'm confident that US Bank would not have CLD'd me if the 'computer' didn't see such a low score.

[img]http://oi57.tinypic.com/2mmikom.jpg[/img]

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I have a hint.

US Bank back in (Oct) declined to approve a CLI even though my FICO 08 score was sporting a reasonable 705 at the time. In their denial letter along with the routine reasons code (recent open accnts etc) they specifically pointed out that they obtained a Classic 04 Bankcard Risk Score that to my utter shock was OVER 50 points LESS!

The different flavors of FICO scoring that's sometimes talked about in these forums can have definite effects depending on which ones lenders choose to go with.

[CreditCuriosity]

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@racer-x wrote:

IWOL - In Jan. '12, my EQ was 745.  I had a $3500 CC with my CU and a $500 CapOne.  App spree began then.  My EQ actually dropped 100 pts in that year.  AAoA was very low, new accts, etc...But over time and as INQ's had less of an impact, I was back in the 700s. 

In June '13 when I bought the Harley, EX was 722.  TU has never been higher than about 712. 

Point is, my scores were higher at one point.  Utilization gradually went up, a few more accounts and INQ's and my upward progress in scores slowed.

Not gardening completely for a year, and picking up an account here and there, kept my score from climbing.

As you can see in my Walmart TU graph, my TU went down the last 3 months last year, but will jump considerably next month once all these PIF accts report completely.

But then again, how is that 95% utilization going to look next month on my US Bank acct?.

Can anybody explain how US Bank told me that TU sent them a score of a low 600?  That's just incredible and an obvious mistake on someone's part.  I'm confident that US Bank would not have CLD'd me if the 'computer' didn't see such a low score.

[img]http://oi57.tinypic.com/2mmikom.jpg[/img]

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I believe US Bank use TU 04 and it scores different then TU 08.. Not sure of the differences, but maybe it is hitting you differently?   Scores aren't what they realy look at, maybe the computer does and that caused the AA, but if a manual UW looked at it, he could really care less of score as a score is just a general gauge of your credit health with the underlying data in the report the makes up the score.. So the data is what you should more be concerned about.. Sound like a lot of inquires and I don't know if you mentioned your AAoA, but guessing it is fairly low as I don't see how you could of dipped that much granted utiz makes up 30% of your credit report, 10% is inquires, etc, etc.

Edit: creditmagic beat me to it..

Also ya 90% util is considered maxed out on CC/LOC's etc...  spread it out if that is the case, must of missed a post, but saw you were at 95% util on your LOC

[racer-x]

Pfarro- That's pretty much the case.  Sucks since US Bank is my main bank for 8 yrs.  I had $30,750 in revolving credit, now it's $23,750.  I direct deposit with them.

I have a super duper elite gold checking or something or other account with them. 

I also have checking and partial direct deposit with a local CU, then there's DCU and USAA that I have CC's with and checking.

[CreditMagic7]

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@CreditCuriousity wrote:

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@racer-x wrote:

IWOL - In Jan. '12, my EQ was 745.  I had a $3500 CC with my CU and a $500 CapOne.  App spree began then.  My EQ actually dropped 100 pts in that year.  AAoA was very low, new accts, etc...But over time and as INQ's had less of an impact, I was back in the 700s. 

In June '13 when I bought the Harley, EX was 722.  TU has never been higher than about 712. 

Point is, my scores were higher at one point.  Utilization gradually went up, a few more accounts and INQ's and my upward progress in scores slowed.

Not gardening completely for a year, and picking up an account here and there, kept my score from climbing.

As you can see in my Walmart TU graph, my TU went down the last 3 months last year, but will jump considerably next month once all these PIF accts report completely.

But then again, how is that 95% utilization going to look next month on my US Bank acct?.

Can anybody explain how US Bank told me that TU sent them a score of a low 600?  That's just incredible and an obvious mistake on someone's part.  I'm confident that US Bank would not have CLD'd me if the 'computer' didn't see such a low score.

[img]http://oi57.tinypic.com/2mmikom.jpg[/img]

---

I believe US Bank use TU 04 and it scores different then TU 08.. Not sure of the differences, but maybe it is hitting you differently?   Scores aren't what they realy look at, maybe the computer does and that caused the AA, but if a manual UW looked at it, he could really care less of score as a score is just a general gauge of your credit health with the underlying data in the report the makes up the score.. So the data is what you should more be concerned about.. Sound like a lot of inquires and I don't know if you mentioned your AAoA, but guessing it is fairly low as I don't see how you could of dipped that much granted utiz makes up 30% of your credit report, 10% is inquires, etc, etc.

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This ^ is true.

At least it most definitely was the case with US Bank from a CLI request.

[CreditCuriosity]

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@racer-x wrote:

Pfarro- That's pretty much the case.  Sucks since US Bank is my main bank for 8 yrs.  I had $30,750 in revolving credit, now it's $23,750.  I direct deposit with them.

I have a super duper elite gold checking or something or other account with them. 

I also have checking and partial direct deposit with a local CU, then there's DCU and USAA that I have CC's with and checking.

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I am with us bank and have 7k direct deposited into my account per month..  I have turned down there credit products as I know I would appears to be to risky for them.. I just applied to a CU and will be moving my direct deposit to them and hoping for a 6.9% apr CC with a juicy limit from them.. CU's are the way to go personally as a cushion the more I learn!  Big banks suck other then sign up bonuses etc... They use you just like you try to use them.  You are just another # in an ocean.

[racer-x]

Great info and advice everybody. 

What if I pay 1/2 of the LOC or do a balance transfer and then they balance chase me again?

I'll be in the same 95% utilization situation.

Hmmm, what to do what to do.

I could balance transfer all the LOC to a few other accts I guess? 

[CreditCuriosity]

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@racer-x wrote:

Great info and advice everybody. 

What if I pay 1/2 of the LOC or do a balance transfer and then they balance chase me again?

I'll be in the same 95% utilization situation.

Hmmm, what to do what to do.

I could balance transfer all the LOC to a few other accts I guess? 

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Try to pay off a bit, but personally I would get it below 90% and transfer it to a few CC's if that is last resort so you aren't maxed on LOC...  That is just me.. Let other ring in on this as I never have had a CLD or been balance chased.  So don't want to mis guide you.

Just know 90% is considerred maxed and bad for FICO and lenders.

Below 30% of CC is ideal 10% is even better 

Ideally only one CC carries a balance of 10% or less and your Scores would skyrocket..

Just a few pointers.. Many many more, but you don't necessarily need to maximize your fico, just stop AA from happening.

[Anonymous]

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@racer-x wrote:

Great info and advice everybody. 

What if I pay 1/2 of the LOC or do a balance transfer and then they balance chase me again?

I'll be in the same 95% utilization situation.

Hmmm, what to do what to do.

I could balance transfer all the LOC to a few other accts I guess? 

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I wouldn't worry about BT fee at this stage just spread it around evenly possible %wise

[Anonymous]

Im the exact opposite on the TBTF banks. Let them give me 30 day interest free loans and rewards. If i actually want to borrow money I will go to my credit union. Anything I am going to pay interest on goes to them. But i will pimp BOA and US bank and chase for as many free nickels as they want to give me. For the most part all of my cc spend is included in somebodys reward structure, and I can time big purchases so that they are. No way swipe fees cover my rewards. The lady at my credit union that writes loans knows me, knows when I come in to make deposits (cash income from bartending) and she tells me if theres any great deals going on. I almost wish i needed a car, 1.49 percent with 25 basis point reduction for auto debit from savings or checking. 

As for OP i would rock the boat as little as possible at the moment. 3 banks taking AA suggests something. Time will smooth it out. I would live under the assumption US bank will balance chase you down. Sounds like time to turtle it for a bit. Close the worthless cards, work the util a bit. I wouldnt hurry to repay US bank, but would prob apply some extra payments to anything else that has a balance. 

[Anonymous]

although many people might disagree with this suggestion but
If you can find someone in your family to add you as AU to their acount with nice available credit
Now is the time to do it
I added my family to my Barclay and Cap1 last weekend its already reporting this week for them
Payment history backdated to 2011