Reply
Established Member
doctorofcredit
Posts: 35
Registered: ‎10-21-2013

Does Credit Utilization Have History?

I'm just wondering if credit utilization has history. For example let's say I have one credit card with a limit of $100, I charge $90 to it and this balance is reported to the credi bureau.

 

My credit utilization is 90%. 

 

The next month I pay of $80, my utilization is now 10%. 

 

Now I apply for a loan, will the lender just see that my utilization is 10%? Or will they look at the history of my utilization as well?

TU08 - 823
Frequent Contributor
blondy250
Posts: 429
Registered: ‎01-03-2013

Re: Does Credit Utilization Have History?

no there is no history/memory. Its whatever your utilization that's was reported as of last statement on your credit report.

MyFico 4/18/14
Experian-820, Equifax-834, Transunion (Discover)--850-- 6/6/14
Aaoa-8yrs, Oldest-14yrs
No inquires in over 2 years
"Because your FICO® score is exceptionally high, there are no actionable negative factors present with your score".
Moderator
09Lexie
Posts: 24,378
Registered: ‎09-13-2012

Re: Does Credit Utilization Have History?

Short answer, no. Your utilization has no memory. Your scores are a snapshot at the time your reports are pulled. FICO has no memory of your util.
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Does Credit Utilization Have History?

No, there is no utilization history but some creditors have started showing payments made. 

Frequent Contributor
kkapdolee
Posts: 314
Registered: ‎09-17-2012
Valued Contributor
Wanderer
Posts: 2,952
Registered: ‎10-03-2008

Re: Does Credit Utilization Have History?

Interesting ... my scores went up because I increased my credit lines by $21,200 and paid down a little on outstanding balances.
Frequent Contributor
blondy250
Posts: 429
Registered: ‎01-03-2013

Re: Does Credit Utilization Have History?


Wanderer wrote:
Interesting ... my scores went up because I increased my credit lines by $21,200 and paid down a little on outstanding balances.
Its almost always good to increase your overall credit lines (99% of the time), it will result in an overall decrease in your utilization which is overall a very important factor. This is credit score 101. However what the op is talking about is having high utilization one month, of course you'll take a FICO hit if you pulled your scores after reporting date. Fico has no memory, in that if you then pay down your utilization the very next month your score will go back up after its reported. 

 


MyFico 4/18/14
Experian-820, Equifax-834, Transunion (Discover)--850-- 6/6/14
Aaoa-8yrs, Oldest-14yrs
No inquires in over 2 years
"Because your FICO® score is exceptionally high, there are no actionable negative factors present with your score".
Valued Contributor
lg8302ch
Posts: 2,463
Registered: ‎11-13-2012

Re: Does Credit Utilization Have History?

Fico score wise not but I have seen on the report the payment amount of over 6K on my Freedom with a 4K limit. Not sure how this will look to other lenders on manual review ?
FICO® EQ 784 (as of today) - TU 777 (07/03) * Fako EX 799 (07/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Bronze Spade Garden Club member *
Regular Contributor
92235
Posts: 140
Registered: ‎03-30-2010

Re: Does Credit Utilization Have History?

I pulled my free annual report from Transunion and it definitely does have historical utilization starting in 05/11. This number is only the reported amount at the end of the billing cycle though so it isn't too accurate. From my understanding FICO does not take this into account, but the data is there if they or any other scoring company wants to use it.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Does Credit Utilization Have History?


92235 wrote:

I pulled my free annual report from Transunion and it definitely does have historical utilization starting in 05/11. This number is only the reported amount at the end of the billing cycle though so it isn't too accurate. From my understanding FICO does not take this into account, but the data is there if they or any other scoring company wants to use it.


Would you be willing to post that?  I have never seen a report show historical utilization.  Some creditors do show historical balances which is not the same as utilization.but could be figured out knowing the CL.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+