Understanding FICO® Scoring

[rootpooty]

pulled my report. i let 8% util report this month and said this is a negative factor and suggested i get it under 7%. not really stressing this but i thought 1-9% was optimal for max scoring?

[cdtotten]

You are correct, but the closer to 1% you get, the slightly better (minimal at best). When FICO doesn't have a lot of negative informatioin to point out, they pick trivial things that might be affecting your score by a point or two. This is pretty common. I would guess that your scores are fairly high to get this comment.

Don't stress over it.

[llecs]

Was this from a myFICO report?

[emptypockets]

On my FICO reports, it tells you your Util %, then says "for FICO high acheivers, the ratio is 7%, on average" - so I guess that would mean 8% would not be good. However, I would think the damage of having 8% would be negligible, depending on what else is on your report.

[Steelersfan904]

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emptypockets wrote:

On my FICO reports, it tells you your Util %, then says "for FICO high acheivers, the ratio is 7%, on average" - so I guess that would mean 8% would not be good. However, I would think the damage of having 8% would be negligible, depending on what else is on your report.

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For anybody rebuilding I would suggest 1% or less. I decided to play around and let 10% report in June to see what can happen while I get used to this while Fico thing. I lost 5 points

[rootpooty]

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llecs wrote:

Was this from a myFICO report?

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yes equifax myfico report sold here

[llecs]

The 7% mention is a generic guide, and isn't specific to you. FICO put the 8% on the neg. side due to your scoring bucket. I bet $5 that if it fell below 7%, it'll still be on the negative side. If not, and it disappears, then probably something else will be added in that slot. FICO ranks these in order. Which position is utilization at? Last?

[rootpooty]

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llecs wrote:

The 7% mention is a generic guide, and isn't specific to you. FICO put the 8% on the neg. side due to your scoring bucket. I bet $5 that if it fell below 7%, it'll still be on the negative side. If not, and it disappears, then probably something else will be added in that slot. FICO ranks these in order. Which position is utilization at? Last?

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yes its last. i let 152 out of 2000 cl report. 4 things are listed as negative factors affecting my score

1 collection due to fall off early 2013

2 short account history

3 seeking credit

4 high credit usage

[MarineVietVet]

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Steelersfan904 wrote:

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For anybody rebuilding I would suggest 1% or less. I decided to play around and let 10% report in June to see what can happen while I get used to this while Fico thing. I lost 5 points

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FICO rounds utilization up for scoring so anything less than 1% (except zero utilization of course) will be shown as 1%.

[BigDaddy18]

I would also think that the higher your Fico Score is the greater the little stuff would effect it so this is also a factor in my humble opinion!  Obviously a 1% is better than anything obove that but just FYI!