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Score didn't increase

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Anonymous
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Score didn't increase

I recently had a 32% credit utilization and has now dropped it down to 18% and my score did not increase with TransUnion credit report, should I give it a few days.  My captial one cc has a limit of $6500.00 and for December the statement showed a balance of $2500.00. I paid it down to $768 before the new statement came out, and I still do not show an score increase.  When I pull my 3B fico scores on 1/12/17 it was still showing the balance of $2500, I just pulled them today 1/17/17and Transunion is reflecting the new balance of $768, however i didn't receive any point increase, NOTHING ELSE HAS CHANGED in regards to my report.  Does Fico take a few days or am I just SOL?

Message 1 of 22
21 REPLIES 21
Anonymous
Not applicable

Re: Score didn't increase

Welcome to the forums!

 

OK, there are 2 things to be aware of here.  The first is that while there is a breakpoint in scoring for <30% utilization, it applies partially at the card level, and partially overall.  So reducing one card balance is good, but not as good if it doesn't bring your overall utilization below 30% as well.

 

Also, utilization may not be a major factor for your particular situation to begin with.  If there's a major derogatory, or something else depressing your score, you may just be spinning your wheels here.  If you were to post your full picture (all balances/limits, prior and current negatives, immediate and mid-term goals etc) we may be better able to advise you on your specific situation.

 

Cheers!

Message 2 of 22
Anonymous
Not applicable

Re: Score didn't increase

My over all credit utilization across all my cards were 32%, now it's 18%.
Message 3 of 22
Anonymous
Not applicable

Re: Score didn't increase

Even the score simulator said it would increase once my new balance was reflected so I'm so confused
Message 4 of 22
Anonymous
Not applicable

Re: Score didn't increase

Score simulators should have a disclaimer - "For entertainment purposes only" - nothing can replace the critical eye of human experience  Smiley Wink

Message 5 of 22
MrsCHX
Valued Contributor

Re: Score didn't increase


@Anonymous wrote:
Even the score simulator said it would increase once my new balance was reflected so I'm so confused

The simulators are worth only a little bit more than nothing.  


As usual it's an overall file question. Do you have lates? Collections? Judgments/leins? Major derogs will make the process of increasing your scores slow. 

 

Your overall is 18%. Is that one card? Or do  you have multiple cards? 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
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Message 6 of 22
kberly69
Frequent Contributor

Re: Score didn't increase

Another thing to consider is the statement due date versus the reporting date. You may have paid in time for the statement but after the reporting date.


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9/24/20: 4 years from discharge FICO 8: EQ 751 EX 765 TU 766 FICO 9 EQ 814 EX 804 TU 821
Message 7 of 22
rmduhon
Valued Contributor

Re: Score didn't increase

Ad a general rule, the reporting date is after the statement date since the statement balance is what gets reported to the CRAs.
Message 8 of 22
Anonymous
Not applicable

Re: Score didn't increase

I'm aware my capital one card is due on the 6th and the statement date is the 9th..I made sure I paid it down from $2500 to $768 before the 6th...when I check all 3 credit reports they are reflecting the new Balance of $768 , all accounts are in good standing except 2..and those two accounts are charge off but those will hit the 7 year mark in June and fall off., and they got charged off back in 2010
Message 9 of 22
Anonymous
Not applicable

Re: Score didn't increase


@Anonymous wrote:
I'm aware my capital one card is due on the 6th and the statement date is the 9th..I made sure I paid it down from $2500 to $768 before the 6th...when I check all 3 credit reports they are reflecting the new Balance of $768 , all accounts are in good standing except 2..and those two accounts are charge off but those will hit the 7 year mark in June and fall off., and they got charged off back in 2010

It kind of sounds like yoiu already have all the available points on the table in your current scoring bucket for utilization, and just need to wait for your baddies to drop so you move to a different one.

 

Cheers!

Message 10 of 22
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