Help! Utilization

Anonymous · ‎10-15-2020

My utilization has been reporting 20% for 4 months now. I use it for my Cash Back bonus points. Well I forgot to make a double pyment and it dropped my score on all 3 CB 12, 17 & 27 points! It showed 50% utilization but wasn't late. If I pay the balance in full before it reports again will it go back up? Discover card is the Cc if that makes a different.

Brian_Earl_Spilner · ‎10-15-2020

Please don't create multiple posts in different sub forums, it creates confusion.

If you pay your balance, the points should return next time it reports. Discover will actually report off cycle if you call them and ask.

SecretAzure · ‎10-15-2020

It should go up if you pay them down. It'll go up a lot more if you get it under 10% utilization. IDK if it will return to exactly where it was though, these things are fluid and change for variables we might not be aware of.

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Anonymous · ‎10-15-2020

Utilization has no "memory" in current FICO models so it's based on last reported balances. If you pay your cards down, your reported utilization will drop next time they are reported, and your scores will bounce back.

I wouldn't sweat it unless you're about to apply for something or request CLIs.

coreysw12 · ‎10-15-2020

If you can pay it down to under 9% before the next statement cuts, you'll probably have an even higher score than before.

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Anonymous · ‎10-16-2020

@Anonymous wrote:
My utilization has been reporting 20% for 4 months now. I use it for my Cash Back bonus points. Well I forgot to make a double pyment and it dropped my score on all 3 CB 12, 17 & 27 points! It showed 50% utilization but wasn't late. If I pay the balance in full before it reports again will it go back up? Discover card is the Cc if that makes a different.

@Anonymous: Is that 50% utilization on a single card (Discover), or is that the total across multiple cards? I can't tell if you have only 1 revolving account or not.

It would be a great data point for a 20% to 50% individual utilization change.

Yes, you will get the points back when you pay it down and it reports at that new lower balance.

SouthJamaica · ‎10-16-2020

@Anonymous wrote:
My utilization has been reporting 20% for 4 months now. I use it for my Cash Back bonus points. Well I forgot to make a double pyment and it dropped my score on all 3 CB 12, 17 & 27 points! It showed 50% utilization but wasn't late. If I pay the balance in full before it reports again will it go back up? Discover card is the Cc if that makes a different.

If you get your utilization on the Discover card from 50% to 20% that will help your score a lot.

I can't tell from your post what your other revolving accounts are.