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FICO Score Changes

tag
Anonymous
Not applicable

FICO Score Changes

Suppose, I had new accounts say $3500 CL and $700 CL and if they are added to my CR, will the ulitiaztion changes and bring my % lower and help boost my CR?

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thornback
Senior Contributor

Re: FICO Score Changes

The added credit limits will lower your aggregate util. Whether or not that results in a score boost depends on the difference between your current util and new util after the cards report - your utilization will have to cross one or more of the utilization thresholds for scoring:
88.9%, 68.9%, 48.9%, 28.9%, 8.9%

You'll also have to consider points lost for new accounts (if any). Any points gained from lowering util would need to outweigh points lost for new accounts and/or reduced AAoA.
Personal Aphorism:"Forget What You Feel, Remember What You Deserve"
Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA:
4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
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