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I pulled my Latest Experian Score...587.
Says my UTL is 51%.
Experian shows my total credit limit is $3,850. To have 51%, I would need close to $2k worth of balances.
However on my revolving accounts, my balance is only $446, or 11% UTL.
Does Fico not score UTL on AU accounts??
@FixMyCredit1992 wrote:I pulled my Latest Experian Score...587.
Says my UTL is 51%.
Experian shows my total credit limit is $3,850. To have 51%, I would need close to $2k worth of balances.
However on my revolving accounts, my balance is only $446, or 11% UTL.
Does Fico not score UTL on AU accounts??
FICO 08 doesn't count AU accounts like previous FICO models allowed. We haven't been able to determine exactly when they count them and don't count them.
But so far the consensus is that it has to be close relationship (husband & wife; parent & child). However, sometimes it's not even counting those close relationships. Also, it seems that in some instances it counts AAoA, but not the CL. Haven't been able to determine exact rhyme or reason.
So the $3000 AU account with a $0 balance isn't helping?
Even if we remove that., it's still too high.
I DO have a $500/$500 secured installment loan (just got it to improve credit mix)
Does fico score UTL on them?
I did some math.
Fico does not score UTL on closed accounts, so I will leave those out.
So if we factor in just the revolvers..
Victoria's Secret: $0/$350
Discover $147/$300
Fingerhut $0/$200
Total Credit Limits: $950 Total Balances $147. Percentage: 15.4%
If we add the $500 secured installment loan.
Total Credit Limits $1450 Total Balances $647 Percentage: 44.6%
If we add the $3000 AU account, without the installment loan, I get 3.7%
If we add it with the installment loan, I get 14.5%
So no matter how you slice it, does not rise about 45%. So I have no clue where the heck Fico is getting FIFTY ONE percent.
@FixMyCredit1992 wrote:I did some math.
Fico does not score UTL on closed accounts, so I will leave those out.
So if we factor in just the revolvers..
Victoria's Secret: $0/$350
Discover $147/$300
Fingerhut $0/$200
Total Credit Limits: $950 Total Balances $147. Percentage: 15.4%
If we add the $500 secured installment loan.
Total Credit Limits $1450 Total Balances $647 Percentage: 44.6%
If we add the $3000 AU account, without the installment loan, I get 3.7%
If we add it with the installment loan, I get 14.5%
So no matter how you slice it, does not rise about 45%. So I have no clue where the heck Fico is getting FIFTY ONE percent.
Are all your accounts listed on your credit report. Someone else mentioned that they had credit that they hadn't used in 11 months that hadn't been counted. They charged $12 on it and it started showing and counting again. Perhaps 08 also does something like drop inactive accounts.
What do you get if you take out finger hut and victoria's secret? Also you may be calculating your current balance and FICO is calculating the last reported balance from your credit card companies. For instance, the balance counted from my accounts are my 7-2014 balances instead of my current balance. For my accounts, most of my credit card companies report to CBAs close to the statement close date (most on the close date; a few w/in 2 days before or within 5 days after).
@FixMyCredit1992 wrote:I pulled my Latest Experian Score...587.
Says my UTL is 51%.
Experian shows my total credit limit is $3,850. To have 51%, I would need close to $2k worth of balances.
However on my revolving accounts, my balance is only $446, or 11% UTL.
Does Fico not score UTL on AU accounts??
Do you have any charged off credit cards? I believe these still count against UTL until they are paid off.
I have an almost maxed out equity line on my house and some FICO models include that on my util ratio.
Do you have any collection accounts? Those get counted as a double whammy - they're added to the utilization, but not your limit. If you had $1,000 in current credit limits with a combined balance of $100, your utilization would be 10% . But if you also had $2,000 in collection accounts, your utilization would be 210%
Well I only counted 850 in credit.
300. 300. 250.
50%. 425. You said you owe. 446.
26 more dollars. Hmmm
I'm counting 53 percent util. Forget loan. They don't count that n your util. Not like the revolvers.
The VS card is $350, not 300.