@Anne1208 wrote:In July I had $11,000 in credit card debt (about 65% util on all four cards evenly) and my student loans ($175k - a lot i know!). I got a secured car loan for that amount to pay off my debt w a lower interest rate.
My Equifax was highest at around 730 and Transunion lowest at around 700.
The week all the credit card payoffs went through, all three went up varying amounts.
Then, a couple weeks later, my installment loan went through on my credit report, and Equifax DROPPED 37 points, and TU dropped 2. Then suddenly today, like another week later (with no explanation associated w/ it at all on my myFICO app), my TU went up 30 points.
WHAT THE HECK!! So now my TU is almost 760 and my EQ is only 705. That just seems like such an extreme difference (both in the end result and the movement of points) to what is the exact same situation. does anybody have any insight into why this would be different?
Would have to see the tradeline reporting data to make any sort of educated guess TBH.
Not surprised on the Equifax dropping that substantially from what you describe on a FICO 8 model when it comes to installment utilization, can't explain TU's change unless the reporting data is simply different.
Full gory details and more on the installment utilization issue here:
