Fico score version and utilization

[Anonymous]

Hi guys, I have some questions about the Fico versions. I recently paid down my utilization for fingerhut and my student loans updated as payed as agreed for the past 6 months because I am in deferment. Well the only thing that updated is Fico score 8 but each one of them raised 60 points! My question is without purchasing the other versions like score 2 for example, can I just assume those scores went up 60 points as well? I want to apply for the capital one quicksilver because my score 8 is 595, 597 and 602. I'm just a little scared because I don't want to risk getting denied and lowing my scores. I checked the pre qualify website for capital one and it keeps offering me the secured card and I already have one. Also my utilization was 65% last month so I paid it down to %32 now. Will my scores rise from paying it down even though it's not under 30%? I paid it under 20% but used the card the night before and it reported 32% utilization because of that. A big mistake I will not do that again until after I'm sure the statement has reported. Thanks 

[Anonymous]

I definAtely wouldn't assume the others went up 60 points due to the fact each fico score model uses different algorithms for scoring if I'm not mistaken and I don't know that you would want to waste 3 hp's as I don't think your scores are quite high enough for the quicksilver yet.You can do some research and see if your scores are good enough for the quicksilver one but I'm thinking more along the lines of the platinum if they still offer that one.Also if you apply your scores will take a little bit of a hit whether your approved or declined but good luck whatever you chose to do.

[Anonymous]

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@Anonymous wrote:

Hi guys, I have some questions about the Fico versions. I recently paid down my utilization for fingerhut and my student loans updated as payed as agreed for the past 6 months because I am in deferment. Well the only thing that updated is Fico score 8 but each one of them raised 60 points! My question is without purchasing the other versions like score 2 for example, can I just assume those scores went up 60 points as well? I want to apply for the capital one quicksilver because my score 8 is 595, 597 and 602. I'm just a little scared because I don't want to risk getting denied and lowing my scores. I checked the pre qualify website for capital one and it keeps offering me the secured card and I already have one. Also my utilization was 65% last month so I paid it down to %32 now. Will my scores rise from paying it down even though it's not under 30%? I paid it under 20% but used the card the night before and it reported 32% utilization because of that. A big mistake I will not do that again until after I'm sure the statement has reported. Thanks 

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How long have you had the Cap One secured?

[Anonymous]

3 months

[takeshi74]

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@Anonymous wrote:

My question is without purchasing the other versions like score 2 for example, can I just assume those scores went up 60 points as well? 

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Nope.

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@Anonymous wrote:

I want to apply for the capital one quicksilver because my score 8 is 595, 597 and 602. 

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Does CO use any of the non FICO 8 scores for that product?  If not, why are you worried about the others?

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@Anonymous wrote:

Also my utilization was 65% last month so I paid it down to %32 now.

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Have those balance reported?

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@Anonymous wrote:

Will my scores rise from paying it down even though it's not under 30%?

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 32% is better than 65% but keep in mind that even 30% is not ideal.  30% is just a suggested maximum. Ideal will be much lower.

Don't rely solely on revolving utilization.  If you have derogs then hit the Rebuilding suboforum, carefully research and address your derogs.

[Anonymous]

Thanks for your response. I saw a post on here that suggested Capital one uses Fico 4. No the balance hasn't reported but will this week. I have about 10 collections, mostly medical and student Lpn's that are in deferment. I plan to pay my utilization down to 10% next time and keep it that way. 

[Anonymous]

Student loans