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Utilization Question

Valued Contributor

Utilization Question

My USAA CC has starting reporting on EQ either today or yesterday. Subsequently my score went from 697 to 691 via myFico Scorewatch. But I'm not worried about that b/c my total credit reporting should also have gone from $7500 to $18500--bringing my UTIL from around 6% to around 2% (approx $375 in balances reporting currently) and myFico score should rebound fairly quick if I can keep my total reporting balance right around $400. Is this a correct assumption to make based on this scenario?.

Message 1 of 6
5 REPLIES
Regular Contributor

Re: Utilization Question

I believe your assumption is correct, but most likely the fico drop was due to a decrease in your AAoA, which will increase as your new TL ages.

Message 2 of 6
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Mega Contributor

Re: Utilization Question

+1

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 6
Valued Contributor

Re: Utilization Question

I believe that a given utilization puts you in a particular bucket, and if utilization goes down a bit, but you're still in that bucket, then it won't help you.

 

I presume this is true for lots of aspects of FICO scoring.  For example, my AAoA is around 6.1 years, and I doubt that getting it up to 6.5 years will do anything for me.

 

Message 4 of 6
Frequent Contributor

Re: Utilization Question


user5387 wrote:

I believe that a given utilization puts you in a particular bucket, and if utilization goes down a bit, but you're still in that bucket, then it won't help you.


 

I don't know, so I'm quoting. "Util doesn't determine buckets. If it did, we would be getting poured in and out of buckets every time another CC updates." "We do know that there are 2 negative and 8 positive buckets."

Message 5 of 6
Epic Contributor

Re: Utilization Question

Message 6 of 6