topic Re: BT in Understanding FICO® Scoring

BT

Sbrooks1 — Sun, 10 Jun 2018 22:27:09 GMT

Opened a new citi for the 21month 0 BT and once reported ex dropped 25 points and TU 20 points . Oh well,overall I will take the interest saved over a higher score as I don’t need credit for the next few years🙄

Re: BT

Anonymous — Mon, 11 Jun 2018 00:49:02 GMT

Have you determined the factors that caused your score drop? Which bureau(s) did you take the HP(s) on? What was your AoYA before the new account and what was it after? Did your utilization change at all before/after? What was your AAoA before/after?

Re: BT

Sbrooks1 — Tue, 12 Jun 2018 22:40:57 GMT

Overall uti remains the same, however this card limit is much lower than my venture so uti on he Citi 64%😩limit is only 4700 will just whittle it down fast as i can . Even though I’m not going to app anything for the next few years it still hurt my heart! TU reported and down 22 points. How do i determine the AoYA

Re: BT

Anonymous — Tue, 12 Jun 2018 22:47:54 GMT

AoYA is simply the age of your newest account, which is now 0 months from you just opening the BT card. What was the age of your youngest account before that? If it was > 12 months, a 20-25 point drop is perfectly possible.

You also suggested that your highest individual card utilization may have increased quite a bit. If the card you were previously at 64% utilization on was the one you did the BT from and your BT card has a lower limit, it suggests higher individual utilization. This can of course play a big role in a score drop as well.

Re: BT

Sbrooks1 — Tue, 12 Jun 2018 23:18:32 GMT

AoYA was less than 12 months, but my uti on the venture was only 12% because my CL is higher!! I think that’s the explanation. It sucks but I don’t want to pay interest if I don’t have to . Would have liked a higher SL but Citi does not faves me with high limits. My DC still sits at 3800 and never gets an increase via soft pull . Amex, cap, and chase seem to like my profile

Re: BT

Anonymous — Wed, 13 Jun 2018 01:33:47 GMT

I would say you identified the reason above. In taking your highest utilization card from 12% to 64%, you crossed 2 thresholds. It's possible you would have received the score drop you saw due to that and possibly the age of accounts factors being slightly reduced as well.

Re: BT

Sbrooks1 — Wed, 13 Jun 2018 01:39:46 GMT

That’s what i was thinking ! Still hurts to see , but it will recover as soon as I get that balance down !

Re: BT

Anonymous — Wed, 13 Jun 2018 03:28:31 GMT

Reduced debt [not paying interest] is > credit scores.

You're doing the right thing. On a longer timeline, your scores will be as good or better except you will have saved money in the process, so that's a win-win.

Re: BT

NRB525 — Wed, 13 Jun 2018 05:19:53 GMT

@Sbrooks1 wrote:
Opened a new citi for the 21month 0 BT and once reported ex dropped 25 points and TU 20 points . Oh well,overall I will take the interest saved over a higher score as I don’t need credit for the next few years🙄

What are your FICO 8 scores?

Congrats on taking steps to reduce interest cost.

Re: BT

Sbrooks1 — Wed, 13 Jun 2018 22:50:52 GMT

Before the drop of 25.20,22 they were 740,745,765. I hate it, but maybe I can get an increase in Citi before the 21 months promo is over but I doubt it. They dont like me. If I left it on the Venture with a very healthy limit, I would pay interest.