Frequent Contributor
Posts: 263
Registered: ‎08-14-2011

Re: 8 point drop in Equifax for new $40 balance?

Dubious wrote:

So I'm not taking the time to do the math with your limits, but I'm guessing even though the absolute number seems large (2k) it didn't actually affect your util that much percentage wise (let's just say it went from 7 to 9% or something). 


In any case, your bucket probably scores number of accounts with a balance pretty highly. 



Yeah, that's in the ballpark.  My BofA is a Visa Signature so it only counts about $5300 (of the 17K) towards my util since that was my highest balance.

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Super Contributor
Posts: 6,844
Registered: ‎10-03-2008

Re: 8 point drop in Equifax for new $40 balance?

[ Edited ]

Interesting. Played with the three CR's utilization and found over the last three years that my best scores come with: one mortgage, one installment loan and two bank credit/store cards. Utilization ratios for the best scores comes when I am at no more than 30% on the installment loan with 1.5% utilization on the bank credit/store cards (but not 0.0% utilization then the scores drop). In reading the best scores vary quite a bit between all of us and I suspect our personal credit files thick/thin, clean, CL's, AAoA, oldest accounts and so on along with which one of the twelve FICO buckets we are in is the magic number. I had 804 09/2011 and then closed sub prime cards and openned prime or better cards and now I sit at a FICO 785.

Starting Score: 760
Current Score: EX 806 TU 814 EQ 818 FICO 08
Goal Score: 850

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