topic Re: High CC Util and weird FICO scoring in Credit Cards

High CC Util and weird FICO scoring

Anonymous — Sun, 09 Sep 2007 21:10:12 GMT

This seems a bit wild to me. I have a very high utilization on my CC right now. I owe $14k on a $15 limit. Most of this expenses was from college and at least $6k was from my recent wedding.

I am happy with my credit score right now as I am just 25 yrs old. Weighing it all in I have a score of 729. But I tried the score simulator to see how it would affect my scores if I paid it all off and it claimed my scores would jump to about 820-860.

This CC account has been with me for probably only 5 yrs. I have never been late on a payment and the only thing knocking me around now is one auto loan and a student loan payment.

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Does this scoring simulator seem accurate or not? Because as soon as I can squash this CC bill and am going to be looking into buying a home.

Re: High CC Util and weird FICO scoring

fused — Sun, 09 Sep 2007 21:12:31 GMT

Turd_Furguson wrote:

This seems a bit wild to me. I have a very high utilization on my CC right now. I owe $14k on a $15 limit. Most of this expenses was from college and at least $6k was from my recent wedding.

I am happy with my credit score right now as I am just 25 yrs old. Weighing it all in I have a score of 729. But I tried the score simulator to see how it would affect my scores if I paid it all off and it claimed my scores would jump to about 820-860.

This CC account has been with me for probably only 5 yrs. I have never been late on a payment and the only thing knocking me around now is one auto loan and a student loan payment.

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Does this scoring simulator seem accurate or not? Because as soon as I can squash this CC bill and am going to be looking into buying a home.

This 729 score is it FICO?

Re: High CC Util and weird FICO scoring

Anonymous — Sun, 09 Sep 2007 21:14:17 GMT

I am pulling that score straight from this site.

I had a friend pull my credit score before my recent auto loan and he confirmed it was about 720.

Re: High CC Util and weird FICO scoring

fused — Sun, 09 Sep 2007 21:37:09 GMT

Turd_Furguson wrote:

I am pulling that score straight from this site.

I had a friend pull my credit score before my recent auto loan and he confirmed it was about 720.

About 720?? Is your credit report showing this very high 14K balance?

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 01:51:07 GMT

Yes. Experian is showing it.

Re: High CC Util and weird FICO scoring

fused — Tue, 11 Sep 2007 03:32:40 GMT

Turd_Furguson wrote:

Yes. Experian is showing it.

Amazing!

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 03:34:43 GMT

Ok are you saying you have derogs on a student loan and an autopayment, a maxed out credit card and still have a 720 score?

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 03:39:43 GMT

Brammy wrote:
Ok are you saying you have derogs on a student loan and an autopayment, a maxed out credit card and still have a 720 score?

pro'lly won the lottery too!

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 03:45:47 GMT

other factors are helping your score: age, number of accounts, type of accounts. you have a good mix of different credit. It discounts your baddies as they are not important in your overall picture.

For example: I have a collection from a dentist that I didn't keep appointment with for about $400 but I just got 2 prime AMEX BLUE and BOFA AMEX cards. my income is mid 6 figures and I never had a mortgage however the CR shows my home in my own name in San Francisco. a condo in vegas and miami. they are under public records of adress.

So i guess they didn't care if my FICO is only 689, 657, 633

Good luck.

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 04:59:47 GMT

Turd_Furguson wrote:
I tried the score simulator to see how it would affect my scores if I paid it all off and it claimed my scores would jump to about 820-860.
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Does this scoring simulator seem accurate or not?

Pretty amazing--especially considering FICO scores only go to 850.

The scoring simulator is reasonably accurate--unlike your posts.

I call B.S.

What sort of TLs do you have on your CRs, or did Mom make you go to bed because you have soccer tomorrow?

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 20:48:19 GMT

Well you are correct Noah. Must have gotten my numbers mixed up. I am sitting at 729 right now, and it is claiming 789-820. So my apologies. I have no late fees, derogatory, collections on my account.

Message Edited by Turd_Furguson on 09-11-2007 01:48 PM

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 20:48:33 GMT

Turd_Furguson wrote:
Well you are correct Noah. Must have gotten my numbers mixed up. [img]http://www.midgar-dreams.net/pics/fico.JPG[/img] ------------------------------------------ Big boo boo on my part guys.

It not impossible to hhave high sores with utilization like that but how old are the derogs? You can e3ven have 700 scores with a BK. Is this your only credit card?

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 20:49:51 GMT

Brammy I edited the post reflecting some changes. I have nothing attached to my accounts pertaining to derogatory or things of that nature. This is my only CC I have.

Message Edited by Turd_Furguson on 09-11-2007 01:49 PM

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 21:11:02 GMT

Turd_Furguson wrote:
Brammy I edited the post reflecting some changes. I have nothing attached to my accounts pertaining to derogatory or things of that nature. This is my only CC I have.

Message Edited by Turd_Furguson on 09-11-2007 01:49 PM

So you have a 5 year history with no derogs and a one-time high utilization? Sorry with the Auto and Student loans kicking you around line sounded like late pays or derogs. Before this utilization what was your normal balance say month to motnh on this card.?

Possible though thathigh utilization could have knocked you down 50 to 100 points but if you have low balances on your installment laons thats also a plus. How long is your histroy according to your pull?

Message Edited by Brammy on 09-11-2007 05:11 PM

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 21:15:03 GMT

I was sitting at about 65% UTIL on the CC before I maxed it out quickly. My credit history is just 6 yrs. Both the additional loans have been taken out within the last year. But I am sitting at $20k on the auto loan and $18k on the student loan. I did finish paying up a separate auto loan in April. I know the CC is killing my score right now. My goal is buying a house by next year, but paying off the CC quickly and saving for the down payment is extremely rough.

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 21:17:28 GMT

This is crazy. Since my minor payment on the CC yesterday, I am sitting at 733 on Experian. My CC Util is 89% right now.

Re: High CC Util and weird FICO scoring

Anonymous — Tue, 11 Sep 2007 21:20:33 GMT

Turd_Furguson wrote:
I was sitting at about 65% UTIL on the CC before I maxed it out quickly. My credit history is just 6 yrs. Both the additional loans have been taken out within the last year. But I am sitting at $20k on the auto loan and $18k on the student loan. I did finish paying up a separate auto loan in April. I know the CC is killing my score right now. My goal is buying a house by next year, but paying off the CC quickly and saving for the down payment is extremely rough.

OK without derogs it is possible. My TU history is relatively short (almost 7 years), but nothing near maxed out I have a BK on file, a couple derogs on a student loan, and a BK and my score is 704.

Would paste it but not sure how you did that cause I cant seem to pull it off of Suze Ormans kit

Re: High CC Util and weird FICO scoring

fused — Tue, 11 Sep 2007 23:02:08 GMT

Perhaps Turd's scores were over 800 before he had high util reporting