topic Re: Utilization - Prediction? in General Credit Topics

Utilization - Prediction?

amh783 — Thu, 31 Jul 2014 12:18:09 GMT

I've been gardening my credit for about 2 years, since a massive rebuild to buy a home (which we did in Jan 2012). I recently had to put a large emergency purchase on my credit card and my utilization now sits at 86%. No baddies, no inquiries, and one newly opened account that will hit 1 year in August.

My question is: if my current scores sit at 715, 720 and 735, does anyone have a guess what bringing down the utilization to 10% will do for a score bump?

TIA

Re: Utilization - Prediction?

MT936 — Thu, 31 Jul 2014 14:25:10 GMT

at least 10 points possibly a lot more hard to tell

Re: Utilization - Prediction?

amh783 — Thu, 31 Jul 2014 14:38:14 GMT

Thanks MT936!

Re: Utilization - Prediction?

Revelate — Thu, 31 Jul 2014 14:58:21 GMT

Is that 86% on a single tradeline, or your total aggregate utilization? In the former case, might be 10-15ish or may be nothing as I'm not certain where the breakpoint is for what's considered to be a maxxed out tradeline, i.e. if it's 90%, no dice there. On the other hand, if that is your aggregate utilization, if you're a clean sheet these days (congrats on straightening out your credit) I would personally be expecting more than that on even a FICO '04 score let alone a FICO 8.

Re: Utilization - Prediction?

amh783 — Thu, 31 Jul 2014 15:03:53 GMT

It's aggregate. I only have two CC's right now, since they started adding the authorized user category (when did that happen?)

Re: Utilization - Prediction?

Revelate — Thu, 31 Jul 2014 15:35:38 GMT

@amh783 wrote:
It's aggregate. I only have two CC's right now, since they started adding the authorized user category (when did that happen?)

You must've been pretty solid scorewise to only drop your score to 720's at 86% aggregate .

AU accounts have been on for a while, not certain what do you mean in this case?

Re: Utilization - Prediction?

EW800 — Thu, 31 Jul 2014 20:42:30 GMT

>> You must've been pretty solid scorewise to only drop your score to 720's at 86% aggregate

I was thinking the same thing! Having a 720 with an 86% Util is wonderful!