@Anonymous wrote:I understand the break points for FICO scoring with UTL as it pertains to Total Available CL on my CR and user optimization for scoring. As far as indivdual accounts go, do the same break points apply towards FICO or is that just for creditor CLI determination as a DP? For instance, is FICO affected if XYZ CC utilization is 50% however total overall UTL on my report is 7% for all accounts in the aggregate?
I think that isbfinny your guys are discussing this specifically. I just tried this at the beginning of the month (almost, I did want to totally trash my scores IMO) I put my Discover card to 49% and 1 other revolver at .09%.
My only my TU 08 fell by 1 point., both EQ and EX remained the same. However, I also had my youngest 2 account reach 12 months so I am sure that was a factor. Then Applied for a CLI with Navy and it was approved in 4 days.
Since there were other factors and I would like to app within the next 60 days, I am done playing Fico games. It time to clean up my utilization UTIL and DTI - AZEO
Ciao!
@SouthJamaica wrote:
@Anonymous wrote:I understand the break points for FICO scoring with UTL as it pertains to Total Available CL on my CR and user optimization for scoring. As far as indivdual accounts go, do the same break points apply towards FICO or is that just for creditor CLI determination as a DP? For instance, is FICO affected if XYZ CC utilization is 50% however total overall UTL on my report is 7% for all accounts in the aggregate?
I couldn't understand your question but for optimized FICO scores
(a) overall utilization should be 9% or less
(b) individual account utilization should be 29% or less
I was thinking the
(a) should be 9% or less and
(b) should be 9% or less
... score wise, would that not give addition points, maybe nust a few?
Okay, i got the cleared up with post 4 and 5.
@SouthJamaica wrote:
@Anonymous wrote:I have 14 CC 4 of them with a balance, all well under the 28%. 1 Loan that's over 50% paid off. Then of course the new car loan in April, that is where I lost most of my points. But the last few months I was gaining them back, was at 790 again. Then went back to 740ish after the Freedom app. I'm tempted to pay one or two off early just to recover some points, but they're all still under 0% promos. So I'm in no real hurry.
If your aggregate revolving utilization is > 2% you're probably losing points in FICO 8.
If your aggregate installment utilization is > 9% you're probably losing points in FICO 8 for that as well.
I had wondered about this concerning aggregate utilization.
Before moving my Discover balance all the way up to 49% I first increased another line to bring my aggregate from .005% up above 2& but less than 4% and saw a score bump of 1 - 2 points per bureau for Fico 8 but my mortgage scores increase a bit more.. 2-3 points...
Just FYI, because during this post I still have a dirty file. Dec 2015 unpaid CO but thank you for pointing that out.
Again, thanks to all participants. It helped to reconfirm to me the information which is spaced around the entire forums.
Personally when I am either attempting AZEO or just trying to keep as many Fico points as possible I tend to stick with threshold of < 8.44%, 28.44% 48.44%... and so forth to conform and adhere to the knowledge dispersed within this forum. Like the rounding up @Anonymous refers to in post 165 of this thread
@Anonymous wrote:
@SouthJamaicacheck out the following thread for an explanation, but for confirmation, read the SSL thread and all the people that have done SSL that tested the pay down, as many people acquired approximately 1/3 of the points around 65% and the rest at 9%.
https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/FICO-scoring-on-installment-loans-is-anal/m-p/4949593/highlight/true#M124635
That thread is about long term mortgages.
As far as the SSL thread I have probably at one time or another read every post there and never saw any consensus about a 65% threshold.
@Anonymous wrote:
@SouthJamaicaI didnt say it was conclusively confirmed at 65%, but that its somewhere around there. Many ppl have reported it and even Rev, the one who discovered the SSLT, recognizes it. Its close to 65, if not 65.
Yes discussion may have been about mortgages, but concept of loans giving points over time is well known and supported and I believe discovered by TT. Various threads are linked in Scoring Primer for both I believe.
If @Revelate, who has devoted so much time to studying the phenomenon, tells me that he has a high degree of confidence that there is a 65% installment utilization threshold which is worth about 10 FICO 8 points, I'll believe it (even though the existence of such a threshold is not consistent with my own experience). But I have no recollection of his having said that.