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2% util to 0% good for 3 points

expatCanuck
Super Contributor

2% util to 0% good for 3 points

Well, under half a percent anyway.

 

My otherwise clean EX (with 6 INQs) went from 803 to 806 when util went from about 2% to under .5%.

 

That is all.

2022 Goal: save 3 months' net income

Starting FICO8: 666 (give or take)  [ Last INQ 15-Mar-2022 ]
EQ8195 INQ (2 CC 2 mort, car)7y0m
EX7946 INQ (4 CC, 2 mort)6y10m
TU8222 INQ (2 mort)6y5m
4/243/12AoYA 2m | AoOA 23y3m< 2%
Message 1 of 5
4 REPLIES 4
Junejer
Moderator Emeritus

Re: 2% util to 0% good for 3 points

That's about as much as I would expect from a move like that @expatCanuck 






Starting Score: 469
Current Score: 817
Goal Score: 825

Take the myFICO Fitness Challenge
Message 2 of 5
expatCanuck
Super Contributor

Re: 2% util to 0% good for 3 points

I was surprised (but pleased) to get the bump -- knew about 8.9%, but not 'below half a percent but above zero'.

2022 Goal: save 3 months' net income

Starting FICO8: 666 (give or take)  [ Last INQ 15-Mar-2022 ]
EQ8195 INQ (2 CC 2 mort, car)7y0m
EX7946 INQ (4 CC, 2 mort)6y10m
TU8222 INQ (2 mort)6y5m
4/243/12AoYA 2m | AoOA 23y3m< 2%
Message 3 of 5
Curious_George2
Valued Contributor

Re: 2% util to 0% good for 3 points

What are the dollar amounts of your aggregate balance at those two points?

 

I ask because there is a theory that there are some points awarded/lost for Total Revolving Balances, measured in dollars. I think this came up in the pinned AMA with real FICO experts. @HeavenOhio found a threshold at some preposterous number like $156 or something. Here's a post where that user narrowed it down to somewhere between $129 and $179.


Message 4 of 5
expatCanuck
Super Contributor

Re: 2% util to 0% good for 3 points

@Curious_George2 

Total balance reported owing had been ~6.5K, against an aggregate revolver line of a little over 340K.

 

The card reporting $5K has a $25K line.

 

Now, ~$1.5K is reporting.

2022 Goal: save 3 months' net income

Starting FICO8: 666 (give or take)  [ Last INQ 15-Mar-2022 ]
EQ8195 INQ (2 CC 2 mort, car)7y0m
EX7946 INQ (4 CC, 2 mort)6y10m
TU8222 INQ (2 mort)6y5m
4/243/12AoYA 2m | AoOA 23y3m< 2%
Message 5 of 5
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