80% utilization and 750 FICO score (and low Vantage scores)

[Anonymous]

Just curious, but I haven't been too keen on keeping track of my credit score lately, assuming it was kind of bad due to very high credit utilization, which is at roughly 80% right now (due a bad situation a few years ago).  I don't have any negatives, missed payments or what have you and I've been managing it just fine with a plan to pay it all off fully in a few years.

However, I'm in the market for a new purchase and decided to check here and through Truecredit and was surpised at my scores and the variances.

So with 80% utilization (on revolving debt), my Fico Scores as reported here are as follows (FICO 8):

Equifax: 755

Transunion: 738

Experian: 745

Now Truecredit gave me a vantage score of D or in the 600s I think.  I don't recall exactly the number, but I ended up keeping myfico subscription and dumping Truecredit as I never even heard of Vantage.

Both services mentioned that I have high utilization (obviously) as negatives, but why are my FICO scores relatively high while my Vantage score is rated D?

Again, I presume Vantage puts a lot of weight on utilization, but I assumed FICO did as well.  Again, I've never missed a payment on a thing, just high utilization.

[Anonymous]

Thanks for sharing. Interesting data.

[elim]

wow, check in when you get caught up.  i bet you'll have some monster scores!

[Thomas_Thumb]

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@franatic wrote:

Just curious, but I haven't been too keen on keeping track of my credit score lately, assuming it was kind of bad due to very high credit utilization, which is at roughly 80% right now (due a bad situation a few years ago).  I don't have any negatives, missed payments or what have you and I've been managing it just fine with a plan to pay it all off fully in a few years.

However, I'm in the market for a new purchase and decided to check here and through Truecredit and was surpised at my scores and the variances.

So with 80% utilization (on revolving debt), my Fico Scores as reported here are as follows (FICO 8):

Equifax: 755

Transunion: 738

Experian: 745

Now Truecredit gave me a vantage score of D or in the 600s I think.  I don't recall exactly the number, but I ended up keeping myfico subscription and dumping Truecredit as I never even heard of Vantage.

Both services mentioned that I have high utilization (obviously) as negatives, but why are my FICO scores relatively high while my Vantage score is rated D?

Again, I presume Vantage puts a lot of weight on utilization, but I assumed FICO did as well.  Again, I've never missed a payment on a thing, just high utilization.

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Things to consider relative to the VantageScore smackdown:

1) VS nails you for all hard inquiries for 2 years - Fico is only one year. Also, Fico "overlooks" certain HPs. The over;looked ones don't impact your score.

2) If you have a lot of new HPs, VS generally punishes your score more severely.

3) VS wants to see a lot of accounts on file - Fico gives you full credit for a much lesser account count.

4) Both Fico and VS will punish you for high CC aggregate UT%. The impact on score at the 80% level is severe. However, the various UT threshold % do differ. So if it's 85% for Fico but 75% for VS, your impact on VS score would be greater - assuming all else is equal

Beyond the above, check your credit report summary details. Perhaps the CB Truecredit pulls from is an older database and/or a different CB.

[vanillabean]

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@elim wrote:

wow, check in when you get caught up.  i bet you'll have some monster scores!

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Clean does it. Now time for highest interest vs smallest balance.

[Anonymous]

Thank you.

I don't show any inquiries on my Fico report from all bureaus but I can't remember if I saw any on my vantage report. In fact, I actually can't remember applying for anything for the past five years.  I do specifically remember scanning for any derogatories on both and saw none. 

It's just very puzzling why they are world's apart. 

Also, is it common for people with 80% utilization and have roughly 750 FICO?  

[Anonymous]

I wanted to attach pictures of my dashboard showing my scores, utilization etc, but I can't.

How do I post a picture?  There is no insert picture button under the rich text and even if I change my preferences to HTML, that option doesn't even show up?

Am I too new or am I doing something wrong?

In any case, I'm still hoping to learn more about my literally 79% utilization (and one card is at 99%) and fairly high scores.  The simulator said if I paid off 28k of my 36k debt, my score would reach 830.  I've been carrying this high utilization for years due to a messy situation five years ago.  No late payments.

Everything I've researched and read here is kind of indicative that these two factors are mutually-exclusive.

As horrible as my car is, I may just limp along in it (even though it literally is on its last legs) and pay off that amount next year and then not worry about getting turned down for a lease (which is why I'm here to begin with).

So does anyone know why I can't post a picture?

[Anonymous]

The ability to post pictures requires a higher forum rank, several levels above where you are now.

[Anonymous]

Ok thanks. 

I guess this forum mirrors our FICO scores: need more rank to do more!

[Anonymous]

Well, thanks to my lending club loan, my $30k cc debt has been to reduced to $1k. All bureaus have now reported as of yesterday and my scores are all around 830. 

So, this mirrors what the myfico simulator said it would go to if I paid down that debt. One caveat, though, is that the lending club loan has not shown up/reported yet.  I'm curious how much it will drop once it does. My lease is there, but didn't move anything one point. 

Since I can't upload pictures, I took a screen shot from my phone of the myfico app after the latest alert, which showed the balance change.  Hopefully you can see my feeble attempt to post a picture so you can verify that it is possible to get or maintain 750 fico with 80% utilization.  So paying off $30k in debt moved my scores from 750 to 830 more or less. 

Edit: hey it worked!  Had to use imageshak 

https://imageshack.com/i/p5LQKXhqj