Wild card in fico scoring system

[Anonymous]

Get one of your revolving credit limits to $10,000 or more = automatic score increase.

I believe this is true--and not because of utilization. I have no balances on any cards, but I just got CLI, and it reported today--all scores bumped up

Then I checked around on the internet for confirmation of this theory--it seems there is consistency among creditors and scoring formulas alike claiming a credit limit of 10K or more automatically boosts your fico, regardless of utilization.

Anyone want to dispute this?

[MidnightVoice]

I have one of $10,000, but when I added one of $15,000 my score went down 6 points 

But it is interesting that in a couple of apps I have seen that having a TL of "over $10,000" is liked.  I am hoping to get Amex over that level soon.  But I need to PIF the first bill first!

[Anonymous]

Higher credit limits do help...but there is a point where it goes asymptotic. Going from $200 to $1000 helps a lot. From $1000 to $5000, some. From $5000 to $10000, a little. Beyond that, I just don't think it does much UNLESS your utilization is high and the increase in CL substantially lowers it.

[fused]

---

rifleman wrote:
Get one of your revolving credit limits to $10,000 or more = automatic score increase.

I believe this is true--and not because of utilization. I have no balances on any cards, but I just got CLI, and it reported today--all scores bumped up

Then I checked around on the internet for confirmation of this theory--it seems there is consistency among creditors and scoring formulas alike claiming a credit limit of 10K or more automatically boosts your fico, regardless of utilization.

Anyone want to dispute this?

---

10K is not big enough. Once CCs get over 50-60K, then yes. The reason being is lines this high will usually report as an installment loan or home equity loan and they will then not factor in revolving util calculations.

[Anonymous]

When my CL of 13,800 reported my score went up about 15 pts but I assumed it was just the lower util%.

[Anonymous]

rifleman wrote:

I believe this is true--and not because of utilization. I have no balances on any cards, but I just got CLI, and it reported today--all scores bumped up

---

It might have nothing to do with the CLI.  It could be age-related.  No, not how old you are.  But perhaps your oldest TL just passed an important birthday, or your average age of accounts moved up into some wonderful place.  Whatever.  You may never know for sure. Just be happy!

[smallfry]

I don't think having a line over 10K means anything to your score in and of itself.