I ended up purchasing some Christmas gifts and I didn't time it right and my utilization on one of my cards went up to 90%. I thought I was going to be able to pay it off in full and get the points before it reported. That wasn't the case and now I took almost a 50-point hit across the board on all my FICO and Vantage scores. My question is will my scores bounced back the car is now paid in full I was practicing a z e o and I just really dropped the ball. Will my scores bounce back to where they were prior to this mishap? Thanks in advance
I have no idea about Vantage, but your FICO scores will all bounce back next reporting cycle.
@Shmike wrote:I ended up purchasing some Christmas gifts and I didn't time it right and my utilization on one of my cards went up to 90%. I thought I was going to be able to pay it off in full and get the points before it reported. That wasn't the case and now I took almost a 50-point hit across the board on all my FICO and Vantage scores. My question is will my scores bounced back the car is now paid in full I was practicing a z e o and I just really dropped the ball. Will my scores bounce back to where they were prior to this mishap? Thanks in advance
I agree with @Iusedtolurk that it is doubtful your FICO scores dropped 50 points over that.
In any event, as others have pointed out, whatever points you lost in FICO will be returned to you with the next months' reports if utilization goes back to what it was.
@SouthJamaica wrote:
@Shmike wrote:I ended up purchasing some Christmas gifts and I didn't time it right and my utilization on one of my cards went up to 90%. I thought I was going to be able to pay it off in full and get the points before it reported. That wasn't the case and now I took almost a 50-point hit across the board on all my FICO and Vantage scores. My question is will my scores bounced back the car is now paid in full I was practicing a z e o and I just really dropped the ball. Will my scores bounce back to where they were prior to this mishap? Thanks in advance
I agree with @Iusedtolurk that it is doubtful your FICO scores dropped 50 points over that.
In any event, as others have pointed out, whatever points you lost in FICO will be returned to you with the next months' reports if utilization goes back to what it was.
48 Point drop Experian FICO Equifax was 46 points TransUnion hasn't hit yet... it did make my utilization go up on one card to 90%. Does that means anything? I'm just hoping they bounce back. Are my hopes of the full 48 points returning futile?
Hey man I appreciate the reply. So my scores are at the bottom of my signature I was above 770 on all my FICO 8 scores and in the 800s on my FICO 9 bank cards. I just can't believe this 48-point drop! For one utilization going up to 90%. However, my credit history is only about 3 years old aaoa 1y1m I have some subprime cards as you can see. I've been closing them little by little. I'm at 12% utilization across the board, up from 0, and the one card I maxed out inadvertently, right before it reported is at 90%. I'm hoping they will bounce back to where they were. My files not super thick, but I have a lot of cards and quite a few payments. My scores were pretty strong. I just hope this one "max out" triggered the algorithm negatively which produced a substantial drop. My high scores are relatively new, within the past 6 months I'd say. At least that's what I'm hoping for. I'll know toward the end of next month. But I appreciate your Insight! Please feel free to ask me any other information, that can help you give me a broader picture. Thanks again Happy New Year!
Also, I forgot to mention that my file is clean I have no missed payments ever
I do have an open car lease to 3-year lease this month will be a year into it my average age of credit is one year and one month my oldest account is 2 years and 10 months like I said my scores were really strong in the 780s across the board but this 50 drop on Equifax and Experian I just don't understand it there's nothing else different or derogatory never missed a payment TransUnion only went down about 25 points which seems more sensible but I don't know like I said I've never had a derogatory mark my scores have been increasing every month with my car payments I've been practicing a z e o I did take a hit on that when I zero it out all my accounts almost 20 points across the board but they bounced back after I left about 1% utilization but as soon as I maxed out that one card 90% that's when I took the big hits I'm just hoping they bounce back later in the month when everything reconciles paid thanks again for your Insight
@Thomas_Thumb wrote:The bump up in aggregate utilization from near zero to 12% could easily be contributing 15 points in a Fico score drop. You do not mention having an open installment loan. Also, your AoYA must be under 12 months if yoy AAoA is 1.1 years. If that is true, a 40+ point drop on Fico 8 would not be unexpected given your file.
FWIW - I have 5 cards and 1 AU card. When I reduced my aggregate utilization from 12% to under 3% and highest card ut from 54% to under 9% my EX Fico 9 score rebounded to 849 from 806 (43 points). EX Fico 8 rebounded from 820 to 848 (28 points). At the time: No open loan, clean file, AAoA 20 years, AoYA 9 years.
