@creditwherecreditisdue wrote:
@haulingthescoreup wrote:
Not necessarily. Util has to cross certain percentage thresholds to create a change in score. Unless you're in one of the fun score situations like I'm in, it can fluctuate quite a lot with no result. (Whereas I routinely gain and lose the same 4 points on EQ, although that's actually from number of accounts with balances.)
And that is one of the issues here. OP states that all of his accounts are reporting balances, so he is already suffering an effect from that. If he has a balance reporting on all accounts -and- high UTIL the effect of this account reporting closed might not make much of a difference due to an already large drop attributable to UTIL.
It still would be better if we knew that the scores being compared were from the same source and that account status had gone from open to closed.
Billy stated that he has 5 other cards, all reporting small balances. There was no indication that he has high utilization.
If he formerly had 6 accounts reporting revolving balances, and now has 5 open accounts and 1 closed account reporting revolving balances, his number of total accounts with balances is no doubt still above 50%, so the closure wouldn't affect his score in that respect.
If his other 5 cards have, for example, $500 total balance and $14K total credit limits, his utilization would have changed from 12.5% to 14.3%, unlikely to effect a score change. Even if he has lower credit limits, a double-digit utilization increase may not affect his score if it doesn't cross a scoring model threshhold.
In Billy's third post, he said "transunion fako is and was 632 and equifax fico is and was 633" emphasizing the point that each individual score did not change after the closure. He has never posted anything that indicates he is comparing the Fico score to the Fako score ...
