The delicacy of high FICO scores

[MidnightVoice]

It has been mentioned elsewhere that something that causes a small dent in a mid-range FICO can have a much bigger effect on a higher FICO, and this is what has just happened to me in a minor way.

My EQ FICO was nudging 790, waiting for all my new credit to get a year old before breaking the 800 barrier.  For a variety of reasonds my reported utility has gone up (part of it being Amex and its peculiar reporting habits!!).

So:

Util 1-5% - EQ - 783

Util 8-9% - EQ - 769

No of accounts with balances the same, no new inqs, no changes,  etc, so the 14 point drop was apparently utilization related

I think there is a point below 9% when you get a score jump (or hit, depending on direction) for change in util, and I am guessing it is around 5%

[fused]

WOW! I would have expected this with TU and not EQ.

[MidnightVoice]

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fused wrote:

WOW! I would have expected this with TU and not EQ.

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I don't know about TU - I got this from SW and can do calculationds Via credit secure

[fused]

others have posted it's best to have util at < 5% on any revolving account with a balance. you are simply showing proof of this.

[Anonymous]

As I once mentioned in a previous post, when my utility was at 6%, it was noted on my EQ FICO Score Summary page that my "Amount of debt (Your total amount of outstanding debt)" was "Very Good."  When my utility dropped to 5%, EQ remarked that my "Amount of debt" was "Great."

Message Edited by psychic on 05-25-2008 12:08 PM

[MidnightVoice]

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fused wrote:

others have posted it's best to have util at < 5% on any revolving account with a balance. you are simply showing proof of this.

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I am begining to think <9% is very good but <5% is better.  As I am not applying for credit in the near future, I have been letting full balances post, so I am in relatively uncharted waters (for me) as far as util goes!

[fused]

Once TU updates my current CC debt, I should be well into the 800 club. Make some room for me psychic!

[marty56]

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psychic wrote:

As I once mentioned in a previous post, when my utility was at 6%, it was noted on my EQ FICO Score Summary page that my "Amount of debt (Your total amount of outstanding debt)" was "Very Good."  When my utility dropped to 5%, EQ remarked that my "Amount of debt" was "Great."

Message Edited by psychic on 05-25-2008 12:08 PM

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I am at 4% total util but the balance is 12% of the cards CL.  TU reports this as very good.  I hope it changes to Great when it goes to 5%.  Dont think its enough to push TU into 800 territory yet.

Anyone in the 800 club have a major derog on their CR?

Message Edited by marty56 on 05-25-2008 03:10 PM

[fused]

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marty56 wrote:

Anyone in the 800 club have a major derog on their CR?

Message Edited by marty56 on 05-25-2008 03:10 PM

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I have never seen or heard of a single case. Mid to high 700's, yes!

[marty56]

Thats okay.  I'll take a 790 for a few years.  Just need a new car loan sometime this year.  I'll let the score and myself age quitely.  At 52 the excitement of having a 800 score would kill me.

Maybe BofA will delete the tradeline instead of closing the account when the realize it still is open.