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FYI: Credit Card Utilization and FICO score

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dodfire
Valued Contributor

FYI: Credit Card Utilization and FICO score

Just wanted to put this out there for general information;

I have been playing around with percentages of UTL, I went from 3% to 7% and FICO dropped 3 points.

*8/10/13
Message 1 of 6
5 REPLIES 5
0x47
Contributor

Re: FYI: Credit Card Utilization and FICO score

Did you have a hard pull show up on your report?  3pts sounds more like a pull than a slight bump in utilization.

Message 2 of 6
dodfire
Valued Contributor

Re: FYI: Credit Card Utilization and FICO score

No....no inquiries. Just the increase of UTL.

*8/10/13
Message 3 of 6
guiness56
Epic Contributor

Re: FYI: Credit Card Utilization and FICO score

Your utilization is a YMMV. Some get the highest score at 1% where others get it at 9%.

Message 4 of 6
dodfire
Valued Contributor

Re: FYI: Credit Card Utilization and FICO score

I agree....I am going to try 1% next month.

*8/10/13
Message 5 of 6
YahComb
Established Contributor

Re: FYI: Credit Card Utilization and FICO score

right now, a single card @ 4.75% utilization(and a ~0.89% overall utilization), gives me a lower score than absolutely no balances reporting on anything by 8 points.

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Message 6 of 6
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