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Experian HELOC high utilization -> $0

Moderator Emeritus

Experian HELOC high utilization -> $0

Specifically FICO 8 discounts the HELOC, none of the other Experian FICO 2 / 3 scores do.

 

$26158/27416 = 95.41% -> $0

 

I controlled for numbers of accounts with balances by letting a few other report over the breakpoint I appear to have, so this should be a good datapoint for a highly utilized account on a clean file for FICO 2/3.

 

Specifically FICO 2 (mortgage trifecta) for reference is complaining:

1) Short History

2) Accounts with Balances

3) Seeking Credit (Inquiries)

4) New accounts.

 

FICO Score2/7/192/8/19Change
EX FICO 88278270
EX FICO 8 AU8428420
EX FICO 8 BC8588580
EX FICO 373677640
EX FICO 275977718
EX FICO 2 AU74878335
EX FICO 2 BC76980233

 

 




        
2 REPLIES
Valued Contributor

Re: Experian HELOC high utilization -> $0


@Revelate wrote:

Specifically FICO 8 discounts the HELOC, none of the other Experian FICO 2 / 3 scores do.

 

$26158/27416 = 95.41% -> $0

 

I controlled for numbers of accounts with balances by letting a few other report over the breakpoint I appear to have, so this should be a good datapoint for a highly utilized account on a clean file for FICO 2/3.

 

Specifically FICO 2 (mortgage trifecta) for reference is complaining:

1) Short History

2) Accounts with Balances

3) Seeking Credit (Inquiries)

4) New accounts.

 

FICO Score2/7/192/8/19Change
EX FICO 88278270
EX FICO 8 AU8428420
EX FICO 8 BC8588580
EX FICO 373677640
EX FICO 275977718
EX FICO 2 AU74878335
EX FICO 2 BC76980233

 

 


Heck with the credit scores. I want to know how you come up with the cash to pay down a HELOC from $26,158 to $0 in one fell swoop?Smiley Surprised


Starting Score: EQ 653 6/21/12
Current Score: EQ 767 5/22/18 - EX 763 5/22/18 - TU 782 5/22/18
Message 2 of 3
Moderator Emeritus

Re: Experian HELOC high utilization -> $0

Heh.

 

Two jobs, what amounts to a Christmas bonus and $0 dumped into the market since December.

 

I've learned over my career that when the money is running one has to just grab as much as you can... because for me, and my SSA earnings report reflects this, I've had good years and years where I basically made nothing, and that's only possible when you leverage extra time when you don't have much going on to work hard.

 

Though at this point I'm seeing if I can get into Berkeley or Texas A&M in Fall of 2020 for part time to be ready to hit the academics hard when that next down turn does hit... so for the next 20ish months, it's go time.




        
Message 3 of 3