topic Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0% in Understanding FICO® Scoring

Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Thu, 25 Jun 2020 14:20:59 GMT

All,

im hoping to hear if anyone has seen a drop this big. Navy fed just reported my balance from 2% to 0%. I've been doing AZEO for the past 10 weeks. Any insight on past experiences would be greatful. My next 3 cards will post by July 1 and one card will report a 1% utilization. Thank you in advance.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Thu, 25 Jun 2020 14:33:11 GMT

Same thing happened to me. Something is up with Experian

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

SouthJamaica — Thu, 25 Jun 2020 14:35:46 GMT

@nyuphoto wrote:
All,
im hoping to hear if anyone has seen a drop this big. Navy fed just reported my balance from 2% to 0%. I've been doing AZEO for the past 10 weeks. Any insight on past experiences would be greatful. My next 3 cards will post by July 1 and one card will report a 1% utilization. Thank you in advance.

Yes that's typical when going from all zero but one --> all zero.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Thu, 25 Jun 2020 14:40:19 GMT

@Anonymous wrote:
Same thing happened to me. Something is up with Experian

@Anonymous

Wow. I'm shocked that experian dropped as your utilization is still at 10%. Looking through other posts I realize I made a mental

mistake, following AZEO I let NFCU post a zero balance (making my total utilization O%) before another card could report a balance. I got hit with a Zero balance penalty. Hopefully it will bounce back up when my next card posts at end of month.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Fri, 26 Jun 2020 23:18:28 GMT

@Anonymous wrote:
Same thing happened to me. Something is up with Experian

@Anonymous yours is not an AZ penalty.

@nyuphoto yours is and will return one a balance posted on a revolver.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Sun, 28 Jun 2020 08:21:15 GMT

It is because the secret that FICO doesn't want anyone to know is that KEY is to keep your utilization AT 1% with the MAX being 8.99% before you start dropping in points for high utilization. Those that tell you keep it below 50% keep it below 30% etc... are not aware that really honestly the secret sauce is 1% most people see a boost in scores if paid down to 1% every month and NO LESS and NO MORE! You saw a drop because you paid off completely. If you pay down to 1% you will maintain your points and the minute you go above or below you will loose points! Its all a number game!

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Sun, 28 Jun 2020 13:40:54 GMT

@Anonymous wrote:
It is because the secret that FICO doesn't want anyone to know is that KEY is to keep your utilization AT 1% with the MAX being 8.99% before you start dropping in points for high utilization. Those that tell you keep it below 50% keep it below 30% etc... are not aware that really honestly the secret sauce is 1% most people see a boost in scores if paid down to 1% every month and NO LESS and NO MORE! You saw a drop because you paid off completely. If you pay down to 1% you will maintain your points and the minute you go above or below you will loose points! Its all a number game!

@Anonymous

Does individual card utilization have any bearing?

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Sun, 28 Jun 2020 14:00:58 GMT

No, 1% is not a threshold. And the number is 9% or lower. Some scorecards also have a 4% threshold. 1% has no special relevance.

If you'd like to know more, @Anonymous , please read the scoring primer linked at the top of my siggy.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Sun, 28 Jun 2020 14:06:50 GMT

@nyuphoto Yes, both individual and aggregate revolving utilization are scoring factors.

Read the scoring primer linked at the top of my siggy for in depth info.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Mon, 29 Jun 2020 14:51:57 GMT

I realize that my drop on Experian is MOST LIKELY due to a IIB Citi card (DC 4/2019) that for some reason is suddenly reporting a delinquent payment ONLY in June 2020 and only on Experian! I have filed a dispute.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Remedios — Wed, 01 Jul 2020 00:51:04 GMT

@Anonymous wrote:
It is because the secret that FICO doesn't want anyone to know is that KEY is to keep your utilization AT 1% with the MAX being 8.99% before you start dropping in points for high utilization. Those that tell you keep it below 50% keep it below 30% etc... are not aware that really honestly the secret sauce is 1% most people see a boost in scores if paid down to 1% every month and NO LESS and NO MORE! You saw a drop because you paid off completely. If you pay down to 1% you will maintain your points and the minute you go above or below you will loose points! Its all a number game!

Nah.

In fact, on individual cards, my fico 8 classic scores do not budge till 29% is exceeded.

On aggregate, a tiny bit at 9%, a lil more at 11%.

I have too much credit to test past that unless I pay for RV with a credit card.

Perhaps in a group where people arent acutely aware of their scores, changes to their scores, and didnt spend years attempting to reverse engineer bits and pieces this theory might fly, but not here.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Wed, 01 Jul 2020 01:02:24 GMT

@Anonymous

Thanks, that link was super helpful.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Wed, 01 Jul 2020 03:43:56 GMT

@nyuphoto my pleasure.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Tue, 07 Jul 2020 14:07:32 GMT

All,

I wanted to update everyone, my Feeedom card finally reported and with a balance, I received a +31 point boost on experian.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Tue, 07 Jul 2020 16:10:07 GMT

Congratulations!

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Tue, 07 Jul 2020 16:20:19 GMT

@nyuphoto wrote:
All,
I wanted to update everyone, my Feeedom card finally reported and with a balance, I received a +31 point boost on experian.

@nyuphoto okay so the other 11 points came from somewhere and now you need to figure that out! It says you had a new account on your report? What reported and how many revolvers does that make? Instalment loans?

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Tue, 07 Jul 2020 18:39:53 GMT

@Anonymous wrote:
@nyuphoto wrote:
All,
I wanted to update everyone, my Feeedom card finally reported and with a balance, I received a +31 point boost on experian.

@nyuphoto okay so the other 11 points came from somewhere and now you need to figure that out! It says you had a new account on your report? What reported and how many revolvers does that make? Instalment loans?

@Anonymous

For experian, the Freedom card reporting today becomes my 3rd revolver (opened 6/4) since my first 2 revolvers opened on 4/13/20 (1 other AU revolver from 2016). The Freedom reported a balance 1% aggregate and was the 2nd statement cut since opening. The Amex Gold and Apple Card has not yet reported to Experian.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Tue, 07 Jul 2020 21:45:15 GMT

@nyuphoto wrote:
@Anonymous wrote:
@nyuphoto wrote:
All,
I wanted to update everyone, my Feeedom card finally reported and with a balance, I received a +31 point boost on experian.

@nyuphoto okay so the other 11 points came from somewhere and now you need to figure that out! It says you had a new account on your report? What reported and how many revolvers does that make? Instalment loans?
@Anonymous
For experian, the Freedom card reporting today becomes my 3rd revolver (opened 6/4) since my first 2 revolvers opened on 4/13/20 (1 other AU revolver from 2016). The Freedom reported a balance 1% aggregate and was the 2nd statement cut since opening. The Amex Gold and Apple Card has not yet reported to Experian.

@nyuphoto awesome so it looks like an award for getting the third card! However what day did that happen on?The alert doesn't have a date.

Because if it happened on the first we need to rule out any ageing factors.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

nyuphoto — Tue, 07 Jul 2020 22:56:45 GMT

@Anonymous wrote:
@nyuphoto wrote:
@Anonymous wrote:
@nyuphoto wrote:
All,
I wanted to update everyone, my Feeedom card finally reported and with a balance, I received a +31 point boost on experian.

@nyuphoto okay so the other 11 points came from somewhere and now you need to figure that out! It says you had a new account on your report? What reported and how many revolvers does that make? Instalment loans?
@Anonymous
For experian, the Freedom card reporting today becomes my 3rd revolver (opened 6/4) since my first 2 revolvers opened on 4/13/20 (1 other AU revolver from 2016). The Freedom reported a balance 1% aggregate and was the 2nd statement cut since opening. The Amex Gold and Apple Card has not yet reported to Experian.
@nyuphoto awesome so it looks like an award for getting the third card! However what day did that happen on?The alert doesn't have a date.

Because if it happened on the first we need to rule out any ageing factors.

It just happened today. Wow this is awesome @Anonymous , a total science behind the score.

Re: Experian FICO8 dropped 20 pts after Utilization went 2% to 0%

Anonymous — Tue, 07 Jul 2020 23:16:00 GMT

Yep, you got back your AZ points plus you got points for getting a third revolver, it appears! Congratulations!