Data points on one card having high utilization

[Anonymous]

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

[Anonymous]

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@Anonymous wrote:

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

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IMO, this isn't "tank"ing.   More, "lost a few points" so I would not expect other lenders to care.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

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IMO, this isn't "tank"ing.   More, "lost a few points" so I would not expect other lenders to care.

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Well thank you for making me feel so much better longtime. First time losing more than 15 points at a time. 

[Revelate]

Nobody will care, they didn't even back in 2012 where things were a lot more tight than they are today.  Interesting to note that's about what I lost FICO 5 wise when I did my Amex high balance setting back in the day (16 points each) with my dirty file for similar aggregates though a worse individual, though if I had to guess the 10% whacked you more than the 64% did but clean files maybe different.

[SouthJamaica]

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@Anonymous wrote:

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

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It makes a difference to your FICO 8 score when you put heavy utilization on a single card. I notice a disturbance whenever I have a single card go over 30%.

Single card utilization, and aggregate utilization, are 2 separate factors.

As to it spooking other lenders, it probably depends on who the other lenders are. Barclays, e.g., seems to 'spook' easily, as does NASA FCU. I live in perpetual fear of spooking lenders, so I would never do such a big transaction.

[Thomas_Thumb]

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@Anonymous wrote:

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

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Nothing to be concerned about. Short term score drops of under 20 points are common place. Your score is likely to rebound fully by bringing your aggregate to under 9% although it would be ideal to bring the individual card to under 30% (say to $8250). Substantial, sustained, paydown is a positive indication of financial strength and is likely to be viewed favorably by lenders. 

The magnitude of the score drop you experienced was predictable and you know how to influence it going forward. Since you are not in need of new credit short term, just manage paydown as finances allow. Nothing in what you did will trigger an adverse action by other creditors.

I let full balances report and then PIF - it is realy no big deal to allow a card to report a high utilization as long as the card is not tagged as "maxed out" - which I believe is 90% or above and as long as the high utilization is not sustained month over month. I allowed a card to report 75% utilization one month without any impact - but aggregate was maintained under 6%.

My score tanked a couple times on my mortgage EQ Fico 04 809 => 765 and another time 809 =>764. The 1st time I was rather concerned but, the 2nd time I realized it was a consequence of allowing 100% of my cards to report balances. Now that I know the cause, I no longer fret about such a score drop as I can manipulate my score as needed.

[Anonymous]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

Needed to make a very large purchase and ordered a no hassle check from Capital One. My CLI on my Venture is $27750. I requested a check for $17860. I have ZERO balances on ALL of my other revolving trade lines listed in my siggy.

So that would be 64% utilization on my Venture which puts me at 14% total utilization. I went from 1% to 14% and it tanked my scores.

Experian went from 739 to 718

Transunion went from 743 to 728

Equifax went from 728 to 715

What a hit hey! I have no baddies either.

This all reported today.

I just payed down the Venture to $12500 today, but won't update til next month. Then I will be at 9% overall utilization.

Do you think this will spook other lenders? Again, I have NO balances on any other account.

---

Nothing to be concerned about. Short term score drops of under 20 points are common place. Your score is likely to rebound fully by bringing your aggregate to under 9% although it would be ideal to bring the individual card to under 30% (say to $8250). Substantial, sustained, paydown is a positive indication of financial strength and is likely to be viewed favorably by lenders. 

The magnitude of the score drop you experienced was predictable and you know how to influence it going forward. Since you are not in need of new credit short term, just manage paydown as finances allow. Nothing in what you did will trigger an adverse action by other creditors.

I let full balances report and then PIF - it is realy no big deal to allow a card to report a high utilization as long as the card is not tagged as "maxed out" - which I believe is 90% or above and as long as the high utilization is not sustained month over month. I allowed a card to report 75% utilization one month without any impact - but aggregate was maintained under 6%.

My score tanked a couple times on my mortgage EQ Fico 04 809 => 765 and another time 809 =>764. The 1st time I was rather concerned but, the 2nd time I realized it was a consequence of allowing 100% of my cards to report balances. Now that I know the cause, I no longer fret about such a score drop as I can manipulate my score as needed.

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Good post..Thank you!