topic Re: Big Score Increase? in Understanding FICO® Scoring

Big Score Increase?

Batsamandrobin — Sun, 20 May 2018 14:10:58 GMT

Current scores are as follows:

EQ--608

TU--665

EX--627

All three scores were about 20-30 points higher last month, depending on bureau, but then I accidentally let a couple of balances post before PIF. The biggest thing, however, that's n held my scores down for the last several months was high individual UTIL on my U.S. Bank Cash+--~90%. Thanks to my recent graduation and a new job, I've had a bit of a cash windfall lately and I just paid the balance down to $990/$7500.

Planning to pay off a couple hundred extra before the end of the month, so the balance reports below 8.9% for the Cash+. At that point, overall balances reporting should total ~$1,000/13,200, which is also under 8.9% for overall UTIL.

Given that the USB Cash+ was reporting as maxed before and overall UTIL was around 55%, I was wondering how much of a score increase I could potentially see when my scores update early next month?

Thanks in advance for any input!

Re: Big Score Increase?

SouthJamaica — Sun, 20 May 2018 14:43:03 GMT

@Batsamandrobin wrote:
Current scores are as follows:
EQ--608
TU--665
EX--627

All three scores were about 20-30 points higher last month, depending on bureau, but then I accidentally let a couple of balances post before PIF. The biggest thing, however, that's n held my scores down for the last several months was high individual UTIL on my U.S. Bank Cash+--~90%. Thanks to my recent graduation and a new job, I've had a bit of a cash windfall lately and I just paid the balance down to $990/$7500.

Planning to pay off a couple hundred extra before the end of the month, so the balance reports below 8.9% for the Cash+. At that point, overall balances reporting should total ~$1,000/13,200, which is also under 8.9% for overall UTIL.

Given that the USB Cash+ was reporting as maxed before and overall UTIL was around 55%, I was wondering how much of a score increase I could potentially see when my scores update early next month?

Thanks in advance for any input!

No one can tell you how much. Every profile reacts differently. And you haven't provided enough information to enable even a good guess.

But taking your maxed card down to < 9% and overall utilization from 55% to < 9% should produce a big bang.

Re: Big Score Increase?

Batsamandrobin — Sun, 20 May 2018 15:19:02 GMT

@SouthJamaica wrote:
@Batsamandrobin wrote:
Current scores are as follows:
EQ--608
TU--665
EX--627

All three scores were about 20-30 points higher last month, depending on bureau, but then I accidentally let a couple of balances post before PIF. The biggest thing, however, that's n held my scores down for the last several months was high individual UTIL on my U.S. Bank Cash+--~90%. Thanks to my recent graduation and a new job, I've had a bit of a cash windfall lately and I just paid the balance down to $990/$7500.

Planning to pay off a couple hundred extra before the end of the month, so the balance reports below 8.9% for the Cash+. At that point, overall balances reporting should total ~$1,000/13,200, which is also under 8.9% for overall UTIL.

Given that the USB Cash+ was reporting as maxed before and overall UTIL was around 55%, I was wondering how much of a score increase I could potentially see when my scores update early next month?

Thanks in advance for any input!

No one can tell you how much. Every profile reacts differently. And you haven't provided enough information to enable even a good guess.

But taking your maxed card down to < 9% and overall utilization from 55% to < 9% should produce a big bang.

I appreciate your reply and provided some additional info below:

18 total INQs

AAoA--15 months

AaoYa --2 months

No late payments or baddies

If there's any information not included that would be helpful, let me know. Thanks again!

Re: Big Score Increase?

Anonymous — Sun, 20 May 2018 18:00:16 GMT

It doesn’t look like any of your other factors will put you into a new bucket, so the only uptick you should get is from your utilization (both individual and total card utilization). If nothing else has changed (and since you know that this is about 30% of your total score), you can figure you will have moved up several notches. However, to figure your total increase is still difficult. You can first expect to recoup about 96-98% of the 20-30 point hit you took last month. Then you can figure to gain points for that great utilization reduction - good job. Remember, in the grand scheme of things, it is not the number of points you gain or lose that is important; but what it takes to gain or lose them.

This link might give you a bit more information even though you can’t determine exactly how many points you’ll get. https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Buckets-Scorecards/td-p/5069914