Experian Fico 8 Score dropped 49 points

[Anonymous]

****UPDATE*** Just got a alert that my Trans Union Fico 8 score just dropped 40 points. But this time in the explanation it says that my total balance has increased from $0 to $5852 which gives me about 18% utilization. Seems like that is the issue which would make sense. Im going to obviously pay this bill off and get back down to 0%. That should do the trick for next month. 

[Anonymous]

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@Anonymous wrote:

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This is just a simple example of UTI showing if one spent an AMT on the CL they have; what the UTI would be at the moment, dont over read.

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I'm not over reading anything.  You just said yourself utilization "at the moment" when the only moment that matters is the moment that it's reported, not at some random point during the cycle.  Another member above already commented that the graphic should state reported utilization, not spend, so clearly I'm not alone in my thinking.  As I stated in my previous post, the source of my concern comes from many members on this forum over the years thinking that they should only "spend" under 30% of their credit limit in any given cycle, when spend isn't relevant.  The graphic you posted IMO could further mislead individuals to have the misconception that I just mentioned, which is why I felt the need to point out its flaw.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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I think your OP is a poor response, This is just a simple example of UTI showing if one spent an AMT on the CL they have; what the UTI would be at the moment, dont over read like you always do on posts.

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I'm not over reading anything.  You just said yourself utilization "at the moment" when the only moment that matters is the moment that it's reported, not at some random point during the cycle.  Another member above already commented that the graphic should state reported utilization, not spend, so clearly I'm not alone in my thinking.  As I stated in my previous post, the source of my concern comes from many members on this forum over the years thinking that they should only "spend" under 30% of their credit limit in any given cycle, when spend isn't irrelevant.  The graphic you posted IMO could further mislead individuals to have the misconception that I just mentioned, which is why I felt the need to point out its flaw.

Th graph is what the UTI would be if you spent a portion of the CL "at the moment", you can take it however you see it, paid or leave as is. In the end it will be whats left or not on the card, very simple UTI reference, but thank you for taking it down the rabbit hole. 

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[Anonymous]

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@Anonymous wrote:

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Th graph is what the UTI would be if you spent a portion of the CL "at the moment", you can take it however you see it, paid or leave as is. In the end it will be whats left or not on the card, very simple UTI reference, but thank you for taking it down the rabbit hole.

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I'm not sure why you're making a personal attack or being abrasive when I haven't approached you that way and all I'm trying to do is be informative and ensure members aren't mislead. 

[FinStar]

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[SouthJamaica]

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@Anonymous wrote:

****UPDATE*** Just got a alert that my Trans Union Fico 8 score just dropped 40 points. But this time in the explanation it says that my total balance has increased from $0 to $5852 which gives me about 18% utilization. Seems like that is the issue which would make sense. Im going to obviously pay this bill off and get back down to 0%. That should do the trick for next month. 

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1. The content of the alert is not an "explanation" of the score change.

2. 18% overall utilization would not cause a major score drop.

3.  I'm guessing there was high utilization on an individual card, but I'm only guessing since there's not enough information provided.

[Anonymous]

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@Anonymous wrote:

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Th graph is what the UTI would be if you spent a portion of the CL "at the moment", you can take it however you see it, paid or leave as is. In the end it will be whats left or not on the card, very simple UTI reference, but thank you for taking it down the rabbit hole. 

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When I look at your nicely illustrated chart, I see no mention of any kind of payments on your $800 spent. Minimum payments? PIF? Payments that are made 1-2 days before statement end, so they don't make it in time? No payments at all?

Since no payment plan is mentioned, I am going to assume no payments of any kind prior to statement cut, just the way my broke SIL likes to do it. Her "spent" ALWAYS equals her "balance reported".

Your chart looks good to me!!!  

[Anonymous]

Thanks for the response. The rest of my cards have 0%. The newest card now has 18%.