topic Re: 3 Point drop for Utilizing 11% of Available Credit in Understanding FICO® Scoring

3 Point drop for Utilizing 11% of Available Credit

Antredd — Wed, 27 Nov 2024 20:51:48 GMT

Here's a data point for you all monitoring your FICO scores, and you have very utilization at 8%.

I lost 3 points for making a charge on my AMEX that is only utilizing 11% of my available credit on this card.

My over all utilization on all of my cards is at 8 %. I will see will I regain those 3 points when I pay the balance off before my Amex's next posting date.

Re: 3 Point drop for Utilizing 11% of Available Credit

Zoostation1 — Fri, 29 Nov 2024 04:26:31 GMT

Was that card reporting a balance on the previous statement? If it was reporting a balance on the last statement, increasing to any value below 28.9% will have no impact on your score. If that card wasn't reporting a balance, how many cards were reporting a balance relative to your total number of cards? Maybe one more card reporting pushed you above a threshild on that? I have fewer cards but I lose a few points for 4/6 reporting vs 3/6 reporting (crossing above 50% of cards reporting hurts scores).

Re: 3 Point drop for Utilizing 11% of Available Credit

FicoMike0 — Fri, 29 Nov 2024 13:46:22 GMT

As @Zoostation1 pointed out, we really need more info to interpret that data. Do you know each score, tu, ex, eq. ? Are they fico8? Is the amex a credit or charge card?

Re: 3 Point drop for Utilizing 11% of Available Credit

SouthJamaica — Fri, 29 Nov 2024 17:01:35 GMT

@Antredd wrote:
Here's a data point for you all monitoring your FICO scores, and you have very utilization at 8%.

I lost 3 points for making a charge on my AMEX that is only utilizing 11% of my available credit on this card.

My over all utilization on all of my cards is at 8 %. I will see will I regain those 3 points when I pay the balance off before my Amex's next posting date.

How can you be sure that this small point drop is caused by that charge? Are you getting daily updates of the report and of the score?

Re: 3 Point drop for Utilizing 11% of Available Credit

Thomas_Thumb — Fri, 29 Nov 2024 22:32:03 GMT

Yeppers.

Verify root cause. The forums are fraught with unsubstantiated conclusions associated with tying trigger events to a score change.