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700 Club

Frequent Contributor

Re: 700 Club


@Queen_Etherea wrote:

@WarCulture wrote:
I saw you went from the high 500s to the 700s in a year, THAT is inspiring. Friendly wager on the 800s in a year?

Thank you!! I couldn't have done it without this forum!

 

Sure I'll take that wager!


Its a race then

FICOs: EQ - 714 / TU - 721 / EX - 717
Garden: 11/1/18 / 19%
Profile: Aaoa - 4.6y / Aooa - 13y / Aoya - 1m
Wallet:
"An investment in knowledge pays the best interest." - BF
Message 11 of 18
Valued Contributor

Re: 700 Club

Congrats on jumping into the 700's. As others mentioned, you have points on the table with where your utilization is. That score will continue to rise!
                                 

Total Credit: $218,900Credit Utilization: 1%AAoA: 5 years, 5 monthsInstallments: Car Lease, Marcus LoanNegatives: 0


                                                                                              
                      DSC-27.1K | NFC-25K | ALI-25k | WAL-10k | BoA-22k | BB-12k | NFL-15k | LOW-35k | AMX-19.3k | CHA-10k | PF-8.8k | C-DC-9.7k
Message 12 of 18
Frequent Contributor

Re: 700 Club


@RonM21 wrote:
Congrats on jumping into the 700's. As others mentioned, you have points on the table with where your utilization is. That score will continue to rise!

Ron your early advice along with many others was a big help, thank you

FICOs: EQ - 714 / TU - 721 / EX - 717
Garden: 11/1/18 / 19%
Profile: Aaoa - 4.6y / Aooa - 13y / Aoya - 1m
Wallet:
"An investment in knowledge pays the best interest." - BF
Message 13 of 18
Frequent Contributor

Re: 700 Club


@WarCulture wrote:

@Queen_Etherea wrote:

@WarCulture wrote:
I saw you went from the high 500s to the 700s in a year, THAT is inspiring. Friendly wager on the 800s in a year?

Thank you!! I couldn't have done it without this forum!

 

Sure I'll take that wager!


Its a race then


Oh it's on like Donky Kong!!Smiley Very Happy


I am in the garden until next year!




Collections: 1 (medical-paid: $80)
Late Payments: 1 (30 day from 2013-GOODWILL GRANTED! 10/31--Should be deleted soon--Still waiting!)
Starting Scores (3/2018): 580 range
Message 14 of 18
Frequent Contributor

Re: 700 Club

Hate to resurrect this post, but I just got another 8 points to my experian score for the same events, boosting from 704-712.

I did check all of my reports to make sure this was an isolated change. There were no other movement on my CRs.

However I am waiting on Amex to report my new card from two months ago. Didn’t see any evidence of that with the alert

Now wondering if this may get readjusted if I’ve received points twice for the same activity, greatful non the less

Edit: So I believe I narrowed it down, one score bump was for the balance decrease or crossing a utility threshold, and the other score bump was for increasing the credit limit
FICOs: EQ - 714 / TU - 721 / EX - 717
Garden: 11/1/18 / 19%
Profile: Aaoa - 4.6y / Aooa - 13y / Aoya - 1m
Wallet:
"An investment in knowledge pays the best interest." - BF
Message 15 of 18
Super Contributor

Re: 700 Club


@WarCulture wrote:

Now wondering if this may get readjusted if I’ve received points twice for the same activity, greatful non the less

Edit: So I believe I narrowed it down, one score bump was for the balance decrease or crossing a utility threshold, and the other score bump was for increasing the credit limit

A couple of things.  One, it's not possible to receive points twice for the same profile change.  Once the change happens, the score will change if generated after the CR change happens.  If a score changes twice, it means profile data changed twice.

 

Two, scores do not change due to increasing a credit limit.  If increasing a credit limit causes utilization to drop across a threshold, that can cause a score change, but it's important to understand that it's not the credit limit increasing here but rather the utilization drop that's the cause for score change.  Someone can go from $500 in overall limits to $50,000 in overall limits (or vice versa) and if their utilization does not cross any thresholds their score will not move even 1 single point.

Message 16 of 18
Frequent Contributor

Re: 700 Club

Thanks BBS, that cleared it up, it definitely caused a change in the utility, both paying down the card and increasing the limit on that card brought my utility down
FICOs: EQ - 714 / TU - 721 / EX - 717
Garden: 11/1/18 / 19%
Profile: Aaoa - 4.6y / Aooa - 13y / Aoya - 1m
Wallet:
"An investment in knowledge pays the best interest." - BF
Message 17 of 18
Super Contributor

Re: 700 Club

Cool, glad you figured that out.

Many on this forum (myself included) are guilty of pushing our credit limits higher through frequent/routine CLI requests in order to ensure overall utilization stays low, thus aiding in optimal score maintenance. Over time this tends to give many the impression that greater limits equate to better scores, when that's not really the case and [lower] utilization is the real reason why.
Message 18 of 18