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Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
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MyFICO shows the wrong %util.

[ Edited ]

It looks like MyFICO is not currently computing %util correctly.  I just got an email that my score dropped from 768 to 751 and, other than my youngest card hitting 6mo old, the only difference was that my util went from 23% to 26% (mistake on my part in that I missed paying down the groceries on a card prior to the report date).

 

HOWEVER

 

Both SW and CreditKarma agree that my available credit is $49000 with a total balance of $11497.  That's actually 23.46% (or 24% if it rounds).  So what's the deal here?  If I am going to see 20 point swings because some computer can't divide two numbers correctly...

Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
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Re: MyFICO shows the wrong %util.

Quick update on this one is that it is being escalated to the technical support group for them to take a look at it.  So I'm not crazy, nor is my math wrong.  Going to have to wait and see.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: MyFICO shows the wrong %util.


0x47 wrote:

It looks like MyFICO is not currently computing %util correctly.  I just got an email that my score dropped from 768 to 751 and, other than my youngest card hitting 6mo old, the only difference was that my util went from 23% to 26% (mistake on my part in that I missed paying down the groceries on a card prior to the report date).

 

HOWEVER

 

Both SW and CreditKarma agree that my available credit is $49000 with a total balance of $11497.  That's actually 23.46% (or 24% if it rounds).  So what's the deal here?  If I am going to see 20 point swings because some computer can't divide two numbers correctly...


Are you looking at TU or EQ for the FICO change?

 

When util increased to 26%, did you pull a new report to see that?

Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
0

Re: MyFICO shows the wrong %util.

[ Edited ]

I am comparing EQ score reports from 04/04/13 ($11,291 / $49,000 = 23%) and 05/05/13 ($11,497 / $49,000 = 26%), both pulled through Score Watch.  The latter %util is wrong but that's what SW tells me.  It should be 24%.

 

On the 04/04/13 report my "low credit usage" (23%) was helping my score.  On the 05/05/13 report my "high credit usage" (26% which should really be 24%) is listed as hurting my score.

 

Nothing else changed in the report save that (1) my oldest card is 8yr11mo old with an AAoA still just over 4 years, (2) my youngest card hit 6mo old, and (3) balances increased by $206.  Obviously #3 could contribute to a FICO score drop, and #2 might have caused me to be rebucketed maybe.

 

I figure that before all else I should at least try to figure out the %util bug with myFICO customer service.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: MyFICO shows the wrong %util.


0x47 wrote:

I am comparing EQ score reports from 04/04/13 ($11,291 / $49,000 = 23%) and 05/05/13 ($11,497 / $49,000 = 26%), both pulled through Score Watch.  The latter %util is wrong but that's what SW tells me.  It should be 24%.

 

On the 04/04/13 report my "low credit usage" (23%) was helping my score.  On the 05/05/13 report my "high credit usage" (26% which should really be 24%) is listed as hurting my score.

 

Nothing else changed in the report save that (1) my oldest card is 8yr11mo old with an AAoA still just over 4 years, (2) my youngest card hit 6mo old, and (3) balances increased by $206.  Obviously #3 could contribute to a FICO score drop, and #2 might have caused me to be rebucketed maybe.

 

I figure that before all else I should at least try to figure out the %util bug with myFICO customer service.


It wouldn't be a bug...the formula is the same for everyone otherwise everyone would see a change in util when all else is equal.

 

I'd narrow everything out and I would look for the following:

 

1) I would make sure I was comparing exactly the same TLs (or any new or dropped TLs between Apr+May)

 

2) I would make sure the balances add up.

 

3) I would check the CLs. In the past couple of months I received a CLD on a seldom-used CC which impacted util.

 

4) I would look for any CC that hadn't updated in a while and/or see if I had any newly active alerts via SW. Look based on the reported date. Cards that hadn't been active in months are excluded from util, but it's based on the reported date.

 

5) I would look for any added or removed dispute comments. Even if you didn't dispute it's not uncommon for a CC to add a comment like that after questioning an acct. Accounts with a dispute comment showing are removed from util calcs.

 

6) I would look to see if any of my CCs reached $0 in the past month. If so, I would look to see if there is a closed comment showing (you'd also know if a CC of yours is closed I suppose). These are removed from util calcs.

 

7) I would look to see if you had any special accounts (e.g. WorldPoints or Signature) that could be playing into util changes.

 

8) I would look to see if you had any CLIs that could have bumped the CL so high that the TL would be excluded from util calcs (this usually happens with limits above $25k, YMMV on the CRA and FICO).

 

9) I would look to see if any TLs updated to change the account type.

 

10) I would redo the calcs and consider non-CC accounts into util. For example, a couple of posters said recently their SL CU lender changed their loan to report as a LOC which would impact util. There are some verified examples in these forums of CAs reporting in a way where the TL factors into util. Be open to the odd and unexplained.

 

Finally 11) I would put both reports into a spreadsheet and recheck the util that way. Then I would add or remove TLs to see if you can't replicate your report's util and that may aid in finding the account in question.

 

You're in a good spot to check this with your FICO reports. Better than relying on SW alerts or other 3rd-party reports.

 

The switch in the positive and negative util percentages may or may not be related to rebucketing. I always tell everyone to assume that it is not unless you cannot prove why your score dropped. I've lost double-digit points on small util changes like yours. It's very plausible the drop was due to the score alone. The switch in the pos/neg could be a threshold at 25%. Who knows. You can always drop util to where it was before and see if anything changes. Also changing a $0 balance to a balance of $1 or greater can have a significant impact on your FICO in some situations. More non-$0 balances you have the worst it gets, even if the balances are uber-low.

 

 

 

 

Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
0

Re: MyFICO shows the wrong %util.

[ Edited ]

4) I would look for any CC that hadn't updated in a while and/or see if I had any newly active alerts via SW. Look based on the reported date. Cards that hadn't been active in months are excluded from util, but it's based on the reported date. 

 

Would a card last reported 12 months ago be excluded from utilization?  I called in to customer service to ask them, and they were clueless about that point (it is a question about FICO scoring after all, not Score Watch).

 

My Dell credit card (balance $0 / limit $4000) was last reported on May 2012.  If you exclude that card the utilization comes out to 25.5%, or 26% 

Frequent Contributor
Roarmeister
Posts: 333
Registered: ‎04-21-2012
0

Re: MyFICO shows the wrong %util.


0x47 wrote:

Both SW and CreditKarma agree that my available credit is $49000 with a total balance of $11497.  That's actually 23.46% (or 24% if it rounds). 


Actually 23.46% would round DOWN not up.  So 23% would be correct.

 

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
____$25k_______$20k_______$20k_______$25k_______$25k____
Starting Score: 676 Feb 2008; Current Score: 791 EQ; 824 CA, Dec. 2014; TU 814, Oct. 2014; Goal Score: 800 by end of year Oldest Account reported by EQ: 12 years; EQ AAoA: 5.8 years; EQ Credit Utilization: 1.9%
Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
0

Re: MyFICO shows the wrong %util.

[ Edited ]

Depends if FICO always rounds down, always rounds up, or rounds to the nearest whole number :smileywink:.  Since last month DID show 23% when it was really 23.04%, you might be right :smileyvery-happy:.

 

Regardless I asked the card company (Dell Financial Services) to report to next month and they said they will.  To ensure that they do so, I will likely go and buy a $10 memory stick with the card to force the system to report that I made a payment this month and get its limit to count again for scoring.

 

At the same time, my wife is going to use her Best Buy card and go back some printer paper.  Her card last reported almost two years ago and it is not counting towards her utilization either.  Any little bit to help our scores right now!

 

I would have to pay close to $1000 off this month to get back my 23% utilization and my 760's FICO score.  I'd rather have that $1000 go towards the downpayment we are trying to save up for.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: MyFICO shows the wrong %util.


0x47 wrote:

4) I would look for any CC that hadn't updated in a while and/or see if I had any newly active alerts via SW. Look based on the reported date. Cards that hadn't been active in months are excluded from util, but it's based on the reported date. 

 

Would a card last reported 12 months ago be excluded from utilization?  I called in to customer service to ask them, and they were clueless about that point (it is a question about FICO scoring after all, not Score Watch).

 

My Dell credit card (balance $0 / limit $4000) was last reported on May 2012.  If you exclude that card the utilization comes out to 25.5%, or 26% 


That could be the culprit. The exact time is a FICO mystery but a former admin said "months". However, do both reports say May 2012? Maybe the threshold for an inactive account changes from month 12 to 13? I dunno.

Contributor
0x47
Posts: 92
Registered: ‎03-17-2013
0

Re: MyFICO shows the wrong %util.


llecs wrote:

That could be the culprit. The exact time is a FICO mystery but a former admin said "months". However, do both reports say May 2012? Maybe the threshold for an inactive account changes from month 12 to 13? I dunno.


Both reports show "status as of May, 2012".  Sadly the math does work out that without Dell's credit limit of $4000 counting towards my credit limit, I do have 26% (25.55%) utilization.  Same for my wife too -- when I exclude the credit limit on her Best Buy card which last reported 2 years ago, her utilization reported by MyFICO works.  28% utilization without that limit counting.

 

Sounds like accounts are not counted towards your utilization after 12 months to me.  Obviously I can't prove it, but I've got some good circumstantial evidence now.

 

Wowzers ... consolidating her credit card debt into a joint credit card has turned into a bigger headache than I ever thought it would.  Glad to have gotten the 1.9% APR but not so happy about it being a pain for both our scores and utilizations.  I'm just pretty much disappointed this situation ever became a situation and now its a struggle to get a house with a good rate by the end of the year.  Hopefully the joint card will not count twice when it comes to figuring out back-end and front-end ratios when we qualify for a mortgage.


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