I certainly don't want to pay for it to change every second , but I was thinking about calling Experian to ask for an update and willing to pay for it - I just don't know if I can ask for a FICO calculation update or how.
My score reports will be pulled soon to close on my mortgage by Feb 14th. I have worked hard the last few months, and specially in December, to pay off cards and get all individual utilizations under 30%. So, anything I can do to get Experian to give me a little credit for paying off so much debt, I'm willing to try.
Pardon my lack of knowledge. When you say scorecard, are you referring to my "credit report" (i.e. credit file) with each bureau?
The 5 accounts were revolving accounts: credit cards. The size of the payments was nearly $5,000 - although I am sure the $$ don't matter as much as the %.
However, I thought going under 30% utilization individually was as important as well as having an overall utilization under 30%.
Perhaps I was wrong, and the explanation to the lack of score change is that the overall utilization didn't cross a breakpoint since it only went from 20% to 15%.
The FICO algorithm separates files into scorecards: based on age, based the presense or lack of negatives, possibly a few other things.
I did a lot of utilization testing when I had my tax lien on my report (public record scorecard), but I didn't have any individual revolving tradeline breakpoint at 30%. Yeah, FICO 8 is all on percentages it appears.
SJ recently did post a datapoint which certainly looks like there is a breakpoint somewhere in there, whereas I didn't see a drop till north of what he had. So based on what you have in your file it might make a difference or it might not... scorecard dependant.