CLI question

[ficonovice]

I just pulled my experian report which always reports new information quickly.

Stumper:

My new credit limit of $10,000 is showing on my new BOA account. Balance is $500.00, limit is $10,000. This is the first month this card has reported a balance and I've had the card one month (it initially reported 3 days after I was approved). My EXP score dropped 5 points (745 to 740) with the $6,500 additional credit available.

My util is improved, but score dropped. 11 open accounts, accounts with balances 4 (one of them is my auto loan). Not really whining, but thought the score would and should go up based on better util.

Util improved from 19% to 15%. (It will be under 10% in the next 20-40 days...).  

[Anonymous]

---

ficonovice wrote:

I just pulled my experian report which always reports new information quickly.

Stumper:

My new credit limit of $10,000 is showing on my new BOA account. Balance is $500.00, limit is $10,000. This is the first month this card has reported a balance and I've had the card one month (it initially reported 3 days after I was approved). My EXP score dropped 5 points (745 to 740) with the $6,500 additional credit available.

My util is improved, but score dropped. 11 open accounts, accounts with balances 4 (one of them is my auto loan). Not really whining, but thought the score would and should go up based on better util.

Util improved from 19% to 15%. (It will be under 10% in the next 20-40 days...).  

---

The score drop was most likely due to something else significant with your report.  I am sure it had nothing to do with lower util.

At the same time, I wouldn't expect the score to necessarily go up based on going from 19% to 15% utilization.  I believe it depends on which bucket you are in, but the score inreases based on utilization don't seem to be on a straight continuum, where 1% decrease in utilization is worth x points.  Instead, it seems you get siginificant point jumps by crosing certain utilization thresholds.

For example, going from 20% to 19% may get you 5-6 points, but going from 19% to 18% gets you nothing.  BTW, that's just an example, and the numbers are made up, but the point remains.

[ficonovice]

I believe you're right about the buckets and that 19% to 15% would be in the same bucket (probably). I'm just confused why my score dropped and didn't stay the same. There wasn't anything different reporting except the BOA account now has a small balance whereas 3 days ago it was a 0 balance.

Maybe that's what caused a 5 point decrease: Another card with a balance....

[haulingthescoreup]

---

@ficonovice wrote:
Maybe that's what caused a 5 point decrease: Another card with a balance....

---

I just lost 34 points, I kid you not, on TU for going from 0 revolving accounts with balances (3 of 8 total) to 2 revolving with balances (5 or 8 total.) Both times the intention was to have one CC reporting, so that tells you a lot about the difficulties of keeping that under control.

I will be very interested to see how many of those 34 points I get back.

[ficonovice]

Wow, sorry you took that hit, but I'm sure it's just temporary.

I'm starting to think I'm analyzing these fico scores a bit too much. Clearly there are "swings" when anything changes and they can be pretty drastic, but the real key is to at least pay your bills on time and be responsible. Month to month, scores will change but rarely to the point of affecting anything in your day to day life.

I plan to just be extremely careful prior to applying for anything significant (mortgage, car, etc..). Other than that, I can deal with the 5-10-20 point variances in my scores. At this time they're all more than adequate (685-740-740). TU hasn't updated 3 accounts for the last 3 months!!!

[Anonymous]

YES

[Anonymous]

hey fused did you ever get approved for this offer? i got the same message today

[Anonymous]

Where is the button on the site, I know i have seen it?

[Anonymous]

---

@Anonymous wrote:

Where is the button on the site, I know i have seen it?

---

It's on the far left vertical selection of links on the Accounts Summary page.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Where is the button on the site, I know i have seen it?

---

It's on the far left vertical selection of links on the Accounts Summary page.

---

Thanks!

Wasn't it right by the credit limit?  I don't see it there anymore?  hmmm, maybe I'm not eligible.