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Frequent Contributor
revvystoke
Posts: 338
Registered: ‎02-02-2010
0

Until calculation on Signature cards

Wondering how FICO scores BOA signature cards with no limit reporting and only a high balance. My high balance is only 1/3 of my total CL. Does FICO use the high balance as the CL and base util off of that or does it disregard util calculations for that card.

AkAir $50k | Freedom $35k | Marriott $32k | AkAir $17k | SPG $15k | Fidelity $10k | Discover $9k | Local CU $8k

TU: 733 / EQ: 717 / EX: 733
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guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Until calculation on Signature cards

This is from myFICO blog about NPSL cards and their utilization:

 

For NPSL accounts reporting as revolving, we'll look at an NPSL account having a credit limit of $10,000, a highest balance of $1,000 and a current balance of $500 – with the $500 current balance being the one thing reported consistently in all examples:

 

  • When both credit limit and highest balance are reported: utilization = 5% ($500/$10,000)
  • When credit limit is not reported and highest balance is reported: utilization = 50% ($500/$1000)
  • When neither credit limit nor highest balance are reported = account excluded from utilization

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