Reply
Valued Member
Posts: 40
Registered: ‎03-06-2011
0

How did FICO calculate my UTIL?

Just got my quarterly TU FICO score and have a score of 761, which I am very happy about. However, it says my ratio of revolving balances to cred limits is 76% and cannot understand where this number came from. My accounts and balances are:

 

Cap1 - Balance of $223, $750 limit.

AU on Amex Gold Charge- Balance of $1,500, no limit

AU on Discover Card- Balance of $76, $14,400 limit.

Federal Student Loan- $2,750.

 

When apping for credit cards, will they take FICO's UTL number or calculate their own? Because I believe it should be around 10% and FICO's calculation seems to have an error unless I am calculating wrong.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: How did FICO calculate my UTIL?

If the Amex Gold reports on the TU report, what is the listed "high balance"?

 

Do you have any other TLs listed like a HELOC or LOC?

 

Do you have any closed accounts with a balance reporting that isn't included in the three above? Any CO CC accounts w/ a balance?

Valued Member
Posts: 40
Registered: ‎03-06-2011
0

Re: How did FICO calculate my UTIL?

It does list that past high balance as 1,500... And everything that is on my CR is what I listed, no TL's or closed accounts.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: How did FICO calculate my UTIL?

And there is absolutely nothing else listed on the Accounts page aside from these 4?

Valued Member
Posts: 40
Registered: ‎03-06-2011
0

Re: How did FICO calculate my UTIL?

No there isnt. Just these accounts.

Valued Member
Posts: 40
Registered: ‎03-06-2011
0

Re: How did FICO calculate my UTIL?

[ Edited ]

Does this seem to be an error?

EDIT: I called FICO and apparently the discover account is in dispute, even though I never disputed it. So it isnt reporting the credit limit.
When applying for credit, do companies leave out an account when it is listed as being in dispute?

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: How did FICO calculate my UTIL?

Ah ha! While the TL is still reported, FICO will ignore certain aspects of the TL while in dispute like the balance and the CL.

 

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.