topic Re: Higher Score After Higher Utilization?? in Understanding FICO® Scoring

Higher Score After Higher Utilization??

hpotterfan77 — Fri, 04 Oct 2019 13:23:40 GMT

So today I got an alert that my Experian score went up 24 points after one of my cc'd updated HOWEVER, the balance it updated to was NOT my last statement balance but the balance on 9/30. With that said, my score actually went UP with the high utilization on that card. How is that possible and why aren't they updating with my last statement balance instead of what the balance is on the last day of the month?

Re: Higher Score After Higher Utilization??

FireMedic1 — Fri, 04 Oct 2019 13:41:30 GMT

And may I ask where do you get the score from?

Re: Higher Score After Higher Utilization??

Remedios — Fri, 04 Oct 2019 13:53:59 GMT

@hpotterfan77 wrote:
So today I got an alert that my Experian score went up 24 points after one of my cc'd updated HOWEVER, the balance it updated to was NOT my last statement balance but the balance on 9/30. With that said, my score actually went UP with the high utilization on that card. How is that possible and why aren't they updating with my last statement balance instead of what the balance is on the last day of the month?

@hpotterfan77 US Bank does not report statement balance. They report whatever is present on the last business day of the month.

That much of the score jump is usually related to aging. That would have happened on the first of the month, except you looked once you got the alert. Those two events are not related. It's just the timing that makes it appear like that.

Re: Higher Score After Higher Utilization??

Brian_Earl_Spilner — Fri, 04 Oct 2019 13:55:06 GMT

It's EX, so probably EX.

More than likely, something else has changed on your report to cause the score jump. Increased utilization will never raise a score unless you had $0 reporting previously on all of your cards.

Re: Higher Score After Higher Utilization??

hpotterfan77 — Fri, 04 Oct 2019 14:00:29 GMT

Ah ok, that makes sense. At least I know now when to payoff the bill on US Bank...lol

Re: Higher Score After Higher Utilization??

Anonymous — Fri, 04 Oct 2019 16:26:56 GMT

@hpotterfan77 wrote:
With that said, my score actually went UP with the high utilization on that card.

Your score increase was not related to higher utilization, it came due to another reason.