Fico 8 5point decrease

[Anonymous]

This is just for data point purposes. Nothing significant but...

Fico 8 experian was 682, now 677.

Aggregate utilization was 11%, now 15%

Chase utilization was 8.5% now 25.9% after statement cut last night. Result 5 point decrease.

No other changes to report.

It'll come back next month but just a data point.

[AllZero]

Is that the only revolver reporting a balance?

[Anonymous]

No, I have 4/6 reporting a balance now. It generally is 3, but unfortunately Credit one is doing things differently and charging me $8 a month fr the $96 annual fee vs a one time deal.

More reason to close that card as soon as I get a CLI on a few of my others.

[AllZero]

I see. Could be the penalty for crossing the 50% of accounts reporting a balance?

[thornback]

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@AllZero wrote:

I see. Could be the penalty for crossing the 50% of accounts reporting a balance?

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This would be my first thought also but it sounds like there were already 4/6 with a balance -  that the Chase balance increased but it didn't start  from $0... so then that wouldn't be the reason for the drop.  OP, can you confirm? 

Some profiles have util thresholds other than the ones we have solidly confirmed exists for all.   Like 4% is a threshold for some...   OP may have some weird one at 12% or something.   OR - OP got dinged for individual util going above 8.9% -- though 8 points seems like a lot for individual util passing a single threshold. 

EDIT:  I misread -  5 points lost, not 8.  So i guess it could maybe be from individual util passing a single threshold.  Still a little high tho...imo.

[Anonymous]

Thanks for that, @CS1974.

A lot of people report that EX 8 doesn't care that much about number of accounts with a balance. It doesn't on my profile either, but it certainly matters to EQ/TU 8.

I think it's highly likely that was due to the utilization change.

[Anonymous]

Yes from Jan 31st to Feb 1st, that's when I noticed an increase of 8 points (as per my other thread) and I believe we had determined it to be most likely the 5 year mark since my original 90 day lates. At that time, I had 4 cards with balances.

Capital 1 QS 0/$600

Capital 1 QS 1 $39/2250

Chase   $589 / $6900

PNC  $1486.65 / $12500

Discover:  $1651.48 / $11500

Credit one :  $8.25/ $300

So, since then, the only change has been the Chase balance. None of the others with balances have reported as of today.

[Anonymous]

I will say this... in the fall of 2019, I did receive a point boost of 8 points.

Unfortunately, I wasn't able to identify the cause as two things occured simultaneously. One was that at that moment, all cards went below 8.9% and my aggregate utilization went from 6% to 4%.

[Anonymous]

I think it’s more likely the number of accounts with a balance and I think the thresholds for that may vary by scorecard.

[Anonymous]

Coming back to this... since I’ve had 4 changes in a 2 week period. 

Initially  I had an 8 point Fico 8 increase bringing me 682. At that time we came to the conclusion it must’ve been due to a set of negatives reaching a 5 yr mark. 

Then I lost 5 points when chase reported a higher balance bringing my aggregate utilization from 11 to 15%. Some thought it had to do with # of cards reporting a balance but 4/6 reported balance in January & February.so that couldn’t have been it. I then  gained 2 points back on February 15 when an inquiry became unscoreable. ( 677-> 679). 

Now today when PNC reported lower balance... my utilization went from 15 to 14% and I’m up 4 points... 683 now. 

No other change in regards to account age, negatives or inquires. 

I know everyone talks about 8.9% 28.9% etc etc but this is twice now I’ve seen changes way around outside those numbers. This one and one other time when I went from 6 to 4%