Revolving Utilization?

[Anonymous]

I have almost paid my cards and credit line off entirely over the last 6mo & my amount of debt / revolving utilization, worth 30% of my score, has not budged & is still showing at 66%. It is actually now at 26% - how can I get this to update? Thanks!

[OmarGB9]

Are you saying none of your cards have updated in 6 months?

[Anonymous]

They have been but on myfico it's showing 66% utilization 

[SouthJamaica]

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@Anonymous wrote:

They have been but on myfico it's showing 66% utilization 

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Utilization is computed as of the reporting date.  Are you sure your calculation is based on those balances?

MyFICO doesn't make mistakes like what you're describing. If you seriously think that for the last 6 months you have less than half the utilization that MyFICO has been ascribing to you, you really should pull your 3 Bureau report and confirm.  But I'm 100% sure you're reading something wrong. 

If you're saying that you recently paid everything down and MyFICO isn't reflecting that, then it's just a matter of time for the new balances to report and for MyFICO to catch up with it.  That will take no more than a month.

[HeavenOhio]

Welcome, @Anonymous.

Are you redeeming reports? That should trigger an immediate update. Otherwise, it can be a while before myFICO updates scores on its own.

[PNWRambler]

Your credit isn't frozen, is it?  If so, it won't update and can't be checked.  Otherwise it's probably just a delay.  Try pulling your report, or checking your score another way, like through one of your credit cards?

[Anonymous]

I know how to read everything on my reports and yes, I'm always getting updated ones; everything is 100% accurate in terms of balances, etc. I did not suddenly pay everything down over the last few days - it has been steadily for the last 6mo. I know that payments sometimes do not reflect on my reports for up to 30 days after I make them. However, when I scroll down on the dashboard page, there is a section that says "Amount of Debt", 30% impact (on my scores), Fair, Revolving Utilization 66%. I'm confused on how everything else is completely accurate but this section, which is having a 30% impact on my score, has not budged, and is therefore only categorizing me as "fair" in this department. I'm not sure who to reach out to for this? Is it a myfico.com issue that is just not reflecting accurately on this site? By the end of April my utilization will be zero, so it's super frustrating that this does not appear to be reflecting accurately on 30% impact of my scores. I'm trying to apply for a HELOC & wanting to get the best rate possible and this appears to be the only thing on my credit that is not "good" or "excellent". 

[Anonymous]

.... the section I am looking at is under "Insights"

[OmarGB9]

Sounds like it could indeed be a MF issue. I'd contact MyFICO Support for help.

[URHomeInvestments]

I have the same issue. Also have been paying down, and also still show 66% utilization. Odd.