Understanding FICO® Scoring

[MidnightVoice]

OK, so I got a new CC to reduce my utilization percentage.  Interesting effects on my EQ score

self - util from 30% to 5%, score up 17.  DW - util from 20% to 3%, score up 7

Then I ran up a big bill and deliberately did not pay any before the statement (it is now already PIFfed).  This hit my CRs on Monday June 25th.  Today Scorewatch noticed.

self - util from 5% to 25%, score down 19.  DW - util from 3% to 20%, score down 5.

My score was mid 700s, hers 30 points lower.

Now we shall see what happens in 30 days when util will be 1%!!!!!!!!!!!

But it is an interesting and accurate demonstration.  And ny the way - EQ FAKO dropped 21 points the day the balance was posted

Message Edited by MidnightVoice on 06-29-2007 11:46 AM

[fused]

Midnight, your observation is consistent with what the people in the know have been saying.  I bet once the util% is 1, you and DW's scores shoot back up.

[MidnightVoice]

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fused111 wrote:

Midnight, your observation is consistent with what the people in the know have been saying.  I bet once the util% is 1, you and DW's scores shoot back up.

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I am sure they will jump in 25-35 days, depending when SW decides to check    I did this deliberatley to get a high maximum credit used figure on the CC in case it did not report CL (it does) and because I wanted a bill before I tested out the waters with electronic bill pay (the address is useful  )

I was posting them as an actual example with real numbers.  I think one of the advantages of this forum over listening to Suse or Dave is that we are real people reporting real numbers (although I do sometime wonder about some people, but that is another story...), and people can ask us questions

And if I can find this thread when the new balance is posted, I will let everyone know what the redction to almost 0 utiliization does. 

[fused]

Which CC did you get?

[MidnightVoice]

Caseys/Juniper/Barclays MC with rebates on gas

[smallfry]

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MidnightVoice wrote:

Caseys/Juniper/Barclays MC with rebates on gas

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Check your soft pulls for Juniper/Barclays. They've looked at me twice since I had their card. I used the card for two cycles now and PIF before the cycle date. They have been doing a lot of AA on people who have opened new lines. Jealous they are.

[smallfry]

I don't think you'll see much score difference between 1% and 9%. Done that yet?

[MidnightVoice]

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smallfry wrote:

Check your soft pulls for Juniper/Barclays. They've looked at me twice since I had their card. I used the card for two cycles now and PIF before the cycle date. They have been doing a lot of AA on people who have opened new lines. Jealous they are.

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This is my first cycle, and they can pull as many soft pulls as they like!  I am going to be keeping util right down there in the ideal range and PIFfing every month