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?.
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.
+1
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.
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."
You are correct. There is no bucket for utilization.