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CLI impacts credit score - negative 8

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lord_kinbote
Established Contributor

Re: CLI impacts credit score - negative 8


@MarineVietVet wrote:

@akula wrote:

Just received an update from myfico.com on two new alerts, logged in and it lists two EX account changes;

 

Barclay - credit increase 3500 - 5000 # my SallieMae card.

Barclay - credit increase 5300 - 7800 # AU on wife's card

 

Really? 8 points for a positive factor?  Utilization on wife's card is 0.  Utilization on SallieMae card is maybe 100 dollars.  I am probably at.02% utilization on my 10 cards.  I subscribe to myprivacymatters, so I will pull all three reports to see if there are any other changes.  Anyone ever seen this type of impact for a credit limit increase?


I'm not sure what happened either but FICO never looks at CL's in scoring. All that is calculated is the percentage of available credit used at any one point.

 

As far as utilization goes FICO rounds up numbers. For instance a utilization of 1.1 or 1.5 or 1.7% will be scored as 2%.

 

Also the utilization can never be less than 1% for scoring purposes if there is any balance at all. That is built into the system.


It must be a utilization factor - and a signal that I am not using enough?!  However, it just got a bit more perplexing - I just received another alert that my TU score dropped from 780 to 776;

 

BALANCE CHANGE DETAILS

 

TYPE 

All Bankcard

 

TOTAL BALANCE

$273.00

----

 

I looked back through all my alerts for "Balance Change" and from what I see this is just a TU alert, I have never received a "Balance Change" from EX or EQ.  However, with TU, here are the results since I signed up for myfico in September;

 

9/28   -  Balance Change - Total Balance 144.00  # +12 points 

10/08 -  Balance Change - Total Balance 244.00  # -9 points

10/09 -  Balance Change - Total Balance 144.00  # +2 points

10/12 -  Balance Change - Total Balance 181.00  # no change

10/22 -  Balance Change - Total Balance 273.00  # -6 points

 

So looking at this, it appears TU does not like a balance over 200 dollars on all my cards?!  Anyone read this different?

 

Message 11 of 12
MarineVietVet
Moderator Emeritus

Re: CLI impacts credit score - negative 8

I've never used any monitoring service so I can't help with those type of questions.

 

But IMO you don't have a problem with utilization and I hope you get this figured out.

Message 12 of 12
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