topic utilization DPs in Understanding FICO® Scoring

utilization DPs

elixerin — Wed, 05 Oct 2022 16:54:41 GMT

so we are aware that individual has a play on your fico score, what im not quite sure was clear was just how much it can mean something. Heres some dps

EXP: 760, overall uti 1%

EQ: 710, overall uti 3%, one individual uti @ 100%

TU: 771, same as EXP

approaching 4 years credit in novemeber, auto loan from 2021.

the only difference between the bureuas is report and which received the update first, pretty interesting to see a few hundred bucks shovel a score down 50-60

Edit: FICO 08 Scoring models provided from Experian app.

Re: uti dps

pizzadude — Wed, 05 Oct 2022 14:31:33 GMT

@elixerin wrote:
so we are aware that individual has a play on your fico score, what im not quite sure was clear was just how much it can mean something. Heres some dps

EXP: 760, overall uti 1%
EQ: 710, overall uti 3%, one individual uti @ 100%
TU: 771, same as EXP
approaching 4 years credit in novemeber, auto loan from 2021.

the only difference between the bureuas is report and which received the update first, pretty interesting to see a few hundred bucks shovel a score down 50-60

It's not the dollar amount that matters, it's the utilization - In your case having a maxed out card ( 100% utilization ).

Re: uti dps

calisig — Wed, 05 Oct 2022 16:10:33 GMT

@elixerin - can you please verify the scoring model used for each CRA's score you presented? I assume they are all FICO 8, but I don't like to assume, because for many it is difficult to obtain a FICO 8 for TU and EQ - especially for the same exact day as EX ... thanks

Re: uti dps

elixerin — Wed, 05 Oct 2022 16:52:10 GMT

@calisig wrote:
@elixerin - can you please verify the scoring model used for each CRA's score you presented? I assume they are all FICO 8, but I don't like to assume, because for many it is difficult to obtain a FICO 8 for TU and EQ - especially for the same exact day as EX ... thanks

yes sorry, i used FICO 08's provided in the Experian app. free trial and just happened to refresh my 3 bureau at a snapshot that allowed me to share this DP.

Re: uti dps

FireMedic1 — Fri, 07 Oct 2022 09:46:14 GMT

Who's the creditor that only reports to EQ?

Re: uti dps

elixerin — Fri, 07 Oct 2022 15:56:00 GMT

@FireMedic1 wrote:
Who's the creditor that only reports to EQ?

none to my knowledge, this was just to show an individual utilization DP and how i was able to was good old lag on reporting amongst the bureaus and my happened timing of refreshing the 3b report, nothing else. if i were to be able to check again today, im sure EQ would now be up to date

Re: uti dps

Zoostation1 — Mon, 10 Oct 2022 04:04:32 GMT

@pizzadude wrote:
@elixerin wrote:
so we are aware that individual has a play on your fico score, what im not quite sure was clear was just how much it can mean something. Heres some dps

EXP: 760, overall uti 1%
EQ: 710, overall uti 3%, one individual uti @ 100%
TU: 771, same as EXP
approaching 4 years credit in novemeber, auto loan from 2021.

the only difference between the bureuas is report and which received the update first, pretty interesting to see a few hundred bucks shovel a score down 50-60
It's not the dollar amount that matters, it's the utilization - In your case having a maxed out card ( 100% utilization ).

The impact of individual utilization drives me nuts. I know the game we play for maximizing sores isn't going to change significantly anytime soon, but I'll forever find it ridiculous that 2 people with the same aggregate card limits and aggregate balances will have vastly different scores based on the distribution of the balances. If someone has 2 cards, one withn a $500 limit and one with a $5k limit and $500 reporting as of statement close, it shouldn't matter how that $500 is distributed amongst the cards. $500 is $500 no matter how you package it imo, but I'm not a CRA nor am I a Fair Isaac employee so my opinion doesn't matter!

Re: uti dps

805orbust — Mon, 10 Oct 2022 12:17:31 GMT

This is accurate. Fico does NOT LIKE high utilization on even a single card. Stay under 30% to avoid maximum hits to your score, and under 10% for maximum boosts in scores.