+1.
For example, in March I allowed a single card to, for one month, report 68% util and it cost me 24-26 points across the board (with overall util being at 7%).
So that was just one card -- I could assume having two cards with that high of util could easily double that point loss on my profile.
@Anonymous wrote:
@AzCreditGuy wrote:So I could be losing 50pts? But that would be across all 3 not just Transunion, Transunion still seems to be my lowest score by 21 to 31pts. If I got those 2 cards down below 29%, I should see pts increase on all 3, but would Transunion be closer to Experian and Equifax or just be off pts again? At the moment these 2 cards will be at high ULTI since they are still on 0% APR promos, Finances over Fico for now. I have a spreapsheet Ive put together and will keep an eye on these accounts when they are paid down below 29% to see the pts gained back.
The FICO 8 scores for all 3 beareus is similar. again you are focusing too much on the differences in scores and not the differences in the reports. once balances update and the 3 credit reports show the same info (util percentages, inqueries, credit age, baddies etc...) the score will become very similar.
the good news is, its just math. the scores dont care about circumstances, they care about math. once your credit report for TU looks like it does for EF/EX then the math will even out and TU score will increase.
1% can mean a huge difference in scores if it makes you pass a threshold. for instance:
88.9% utilization is a huge threshold. if you went from 89.1% to 88.1% that would have a big impact on your score. 10-50 points potentially. but going from 59.1% to 58.1% does nothing for you.
thresholds are:
8.9% 28.9% 48.9% 68.9% 88.9%
passing below those thresholds will see more significant score increases. going above significant drops. if you give us a break down of:
your credit balance/credit limit on all cards we can help you a bit more with what to pay down first,
Yes I am aware of those thresholds as of today Experian/Equifax is at 26.55% and Transunion will be at 24.67% when the credit reports are updated for total Ulti, the 8.9% will not be hit for a couple of months. Finances over Ficos for the moment
I am more concerned with Indivudal Ulti thresholds 28.9% 48.9% 68.9% 88.9% but I was under the impression these are 5pt hits not any larger
Here you can see each card Indv %
Me/Auth = 2 AU cards (Experian/Equifax)
Me = No 2 AU cards (Transunion)
Sofi = Personal Loan
@AzCreditGuy wrot
Yes I am aware of those thresholds as of today Experian/Equifax is at 26.55% and Transunion will be at 24.67% when the credit reports are updated for total Ulti, the 8.9% will not be hit for a couple of months. Finances over Ficos for the moment
I am more concerned with Indivudal Ulti thresholds 28.9% 48.9% 68.9% 88.9% but I was under the impression these are 5pt hits not any larger
Here you can see each card Indv %
Me/Auth = 2 AU cards (Experian/Equifax)
Me = No 2 AU cards (Transunion)
Sofi = Personal Loan
You should be in much better shape once your new balances are reported. you have 5 cards passing the 28.9% threshold. and one passing the 88.9% threshold. I dont want to set any false hopes for what exactly you can expect but i think you will be happy with the bump you will see (assuming you dont raise those balances back above before reporting happens.)
5 points for an individual card passing a threshold isnt a concrete number. we dont know the exact algorithm. all thresholds arent created equally from data we have either at it seems that the 2 most important for individual cards is 28.9 and 88.9 and you've got 6 crossing those.
patience will server you well. i know from my own experience the axciety/anticipation and checking everyday for updates and how that sucks but just keep those balances where they are give it 45 days, make your payments when they are due and check back then im sure things will change in a significantly positive way as long as there are no other factors at play
I recently opened a dispute with TU with the CFPB regarding access to Transunion.com, Ive had a profile since 2010 and was able to dispute misinformation on that site. Since my AU issues in the past and legal letters being sent to TU, they have put my account on special status and have blocked my access to view or dispute my credit report with TU on Transunion.com. Seems out of this dispute TU removed my current employeer from my credit report? Which was never in dispute nor did I request it? They have yet to respond to the CFPB on my open dispute..
Ok so I have an UPDATE on Experian only and I have to say I am very disappointed as I only obtained a 9 pt increase to my score which is now 716 from April score of 707.
Experian is showing 3 credit cards paid off to $0
Wells Fargos has not been updated for 2 months now
And Discover (really 24% not 31%) and Chase get payments towards the end the month
Sofi is a personal loan
But from 31% to 27% total UTLI netted me 9 pts? The groups thoughts were I was losing big pts from where I was at in April?
I am waiting to see what my TU score is because I expect that all with equal between them now, I expect that gap of 32 pts to be closer to Experian and Equifax
As you can see I crossed a couple of thresholds Invd and Overall, It would seem that the AU accounts on Experian and Equifax are helping me with pts and why Transunion is not closer in pts to those accounts. If thats not the case, than I truly dont understand Transunion logic in score
