topic Re: Utilization drop from 62-28% in a month in Understanding FICO® Scoring

Utilization drop from 62-28% in a month

Anonymous — Fri, 21 Oct 2016 18:51:19 GMT

I've been paying off my 2 credit cards, $500 or $1000 at a time. Started in July with about 86% UTI. Scores are sitting at EQ618, TU597 and EX620. This morning I was sitting at 62% (but the credit reports aren't showing the $1000 payment I made last week). I just pulled the trigger and had a CLI on both cards to take my total available credit from $5300 to $6300. This drops me down to 38% UTI. I plan on paying that down another $700 to get my total UTI at 28%.

The only negatives on my account are some late payments from 2015. All but 2 are older than 12 months. The remaining 2 will be 12 yrs in Nov/Dec. I've got my 3rd GW letter in to have those changed based on my stellar payment period before late payments began.

With my UTI decreasing before the EOM by more than 30%, i'm hoping to see a good increase. If I can the middle score to be 620 or more, i'll be happy.

Re: Utilization drop from 62-28% in a month

Anonymous — Thu, 17 Nov 2016 16:41:56 GMT

Experian and Equifax updated today. With a CLI and my UTI dropped from 62% - 8% my scores went up 12 and 14 points. Transuinion didn't update nor did the mortgage scores? Is there anyway to update those or just have to wait?

Re: Utilization drop from 62-28% in a month

Anonymous — Thu, 17 Nov 2016 16:51:50 GMT

@Anonymous wrote:
Experian and Equifax updated today. With a CLI and my UTI dropped from 62% - 8% my scores went up 12 and 14 points. Transuinion didn't update nor did the mortgage scores? Is there anyway to update those or just have to wait?

Hi OtterCCU,

The mortgage scores only update once every 3 months, or once a month depending on the plan you are on. I am on the 3B Premier plan, and all of the FICO scores update once per month, and FICO 8 updates whenever myFICO detects a change. I just switched from the 3B Ultimate plan, and that is the one that only updates all scores once every three months, while FICO 8 updates as myFICO detects changes. Give Transunion some time to reflect your recent updates.

Re: Utilization drop from 62-28% in a month

Anonymous — Fri, 18 Nov 2016 19:16:09 GMT

@Anonymous wrote:
@Anonymous wrote:
Experian and Equifax updated today. With a CLI and my UTI dropped from 62% - 8% my scores went up 12 and 14 points. Transuinion didn't update nor did the mortgage scores? Is there anyway to update those or just have to wait?
Hi OtterCCU,

The mortgage scores only update once every 3 months, or once a month depending on the plan you are on. I am on the 3B Premier plan, and all of the FICO scores update once per month, and FICO 8 updates whenever myFICO detects a change. I just switched from the 3B Ultimate plan, and that is the one that only updates all scores once every three months, while FICO 8 updates as myFICO detects changes. Give Transunion some time to reflect your recent updates.

Thanks. I did some reading and found that out about the mortgage scores. Transunion updated today and it shot up a whopping 8 points to 605. I'm happy that my base scores are in the 600s. Now to just get them over 650. I'll keep doing what I'm doing and hope I can get an avg of 10-20 points each month by the time the spring rolls around.