topic Re: Available Credit Bands? in Understanding FICO® Scoring

Available Credit Bands?

Barneygirl — Sat, 25 Oct 2014 23:33:16 GMT

Okay, I have an question that I'm not sure has been asked (that I can see)....

I have two Cap1 accounts, and they both come with the free FICO scoring. There is a "simulator" and today I noticed something interesting on it.... and wondered how this relates to the "reality" of FICO.

Within the simulator there is a "grade" assigned for Available Credit:

A: >$50,000

B: $15,000-$50,000

C: $2,500 - $15,000

D: <$2,500

Up until recently I fell into the "C" grade, as I had $5,000 in my own credit limits, and $5,000 as an AU on my sister's accounts. I was just increased to the "B" band with the addition of my recent NASA app of $10,000. This moves me into a higher "band", which I'm assuming is better for my overall score.

Now the interesting part is that this category was different than the Utilization band. That one is graded similarly, A-D, based on your overall utilization of your available credit lines.

My question is this.... does FICO utilize credit grading bands for Available Credit like Cap1 suggests? I've never heard of it!

Re: Available Credit Bands?

Anonymous — Sun, 26 Oct 2014 02:42:04 GMT

@Barneygirl wrote:
Okay, I have an question that I'm not sure has been asked (that I can see)....

I have two Cap1 accounts, and they both come with the free FICO scoring. There is a "simulator" and today I noticed something interesting on it.... and wondered how this relates to the "reality" of FICO.

Within the simulator there is a "grade" assigned for Available Credit:
A: >$50,000
B: $15,000-$50,000
C: $2,500 - $15,000
D: <$2,500

Up until recently I fell into the "C" grade, as I had $5,000 in my own credit limits, and $5,000 as an AU on my sister's accounts. I was just increased to the "B" band with the addition of my recent NASA app of $10,000. This moves me into a higher "band", which I'm assuming is better for my overall score.

Now the interesting part is that this category was different than the Utilization band. That one is graded similarly, A-D, based on your overall utilization of your available credit lines.

My question is this.... does FICO utilize credit grading bands for Available Credit like Cap1 suggests? I've never heard of it!

Absolutely not. FICO never looks at credit limits. Only the percentage of available credit being used at any one time.

Edited for another dumb typo.

Re: Available Credit Bands?

Barneygirl — Sun, 26 Oct 2014 00:15:48 GMT

I didn't think so, that's why I was so surprised to see this!!!! Thanks for validating

Re: Available Credit Bands?

Anonymous — Sun, 26 Oct 2014 02:00:00 GMT

@Barneygirl wrote:
I didn't think so, that's why I was so surprised to see this!!!! Thanks for validating

You're very welcome.

All I ask is that you pass this along where you think it will be helpful.

Re: Available Credit Bands?

Barneygirl — Sun, 26 Oct 2014 02:10:25 GMT

@Anonymous wrote:
@Barneygirl wrote:
I didn't think so, that's why I was so surprised to see this!!!! Thanks for validating
You're very welcome.

All I ask is that you pass this along where you think it will be helpful.

Most definitely thanks again!!

Re: Available Credit Bands?

Anonymous — Sun, 26 Oct 2014 02:45:36 GMT

@Barneygirl wrote:
@Anonymous wrote:
@Barneygirl wrote:
I didn't think so, that's why I was so surprised to see this!!!! Thanks for validating
You're very welcome.

All I ask is that you pass this along where you think it will be helpful.
Most definitely thanks again!!

You wrote in your original post:

I have two Cap1 accounts, and they both come with the free FICO scoring.

Cap 1 doesn't offer FICO scores.

Re: Available Credit Bands?

Barneygirl — Sun, 26 Oct 2014 16:00:54 GMT

@Anonymous wrote:
@Barneygirl wrote:
@Anonymous wrote:
@Barneygirl wrote:
I didn't think so, that's why I was so surprised to see this!!!! Thanks for validating
You're very welcome.

All I ask is that you pass this along where you think it will be helpful.
Most definitely thanks again!!
You wrote in your original post:

I have two Cap1 accounts, and they both come with the free FICO scoring.

Cap 1 doesn't offer FICO scores.

Well, I'll be a pig's uncle... you're right!!! TOO MANY CREDIT SCORES!!!!! TOOOOOO MANY CREDIT SCORES!!!! lol

Well, THAT explains why it came across with that funky "Available Credit" band!

Re: Available Credit Bands?

Barneygirl — Sun, 26 Oct 2014 16:02:21 GMT

We can chalk THAT one up to another brilliant "blonde" moment

Re: Available Credit Bands?

Anonymous — Sun, 26 Oct 2014 16:44:20 GMT

@Barneygirl wrote:
We can chalk THAT one up to another brilliant "blonde" moment

Not at all. There are WAY too many "credit scores" out there.

It can be confusing beyond belief.