Well today another account dropped from being > 50% to being < 50%.
EX8 went up 11, EX2 didn't move.
Eliminated 1st of 5: EX2 + 9 EX8 no change
2nd of 5: EX2 + 7 EX8 no change
3rd of 5: EX2 no change EX8 +11
Not sure what it means, but it does not support the hypothesis I was working with.
3 accounts going from over 50% to under 50% earned me 16 points in the mortgage score and 11 points in the classic 8 score. So both scores were helped out.
@SouthJamaica wrote:Well today another account dropped from being > 50% to being < 50%.
EX8 went up 11, EX2 didn't move.
Eliminated 1st of 5: EX2 + 9 EX8 no change
2nd of 5: EX2 + 7 EX8 no change
3rd of 5: EX2 no change EX8 +11
Not sure what it means, but it does not support the hypothesis I was working with.
3 accounts going from over 50% to under 50% earned me 16 points in the mortgage score and 11 points in the classic 8 score. So both scores were helped out.
Today EX FICO 8 jumped another 8 points. I can't see any significant difference between yesterday's report and today's report. (There is a minor difference, which is that my little SSL loan dropped from 4.84% to 4.76% but I can't see that moving anything).
So it appears that my reduction of the number of accounts with > 50% utilization has resulted in the following:
Eliminated 1st of 5: EX2 + 9 EX8 no change
2nd of 5: EX2 + 7 EX8 no change
3rd of 5: EX2 no change EX8 +19
(The day I dropped the 3rd I went down to 29% aggregate revolving utilization. The next day I went up to 30%. Today I went back down to 29%. So it's possible that the 30% aggregate utilization number is at play here, but the score doesn't seem to be responding to that.).
Well the end result of this cycle is now in.
When the 4th 50% account fell out, EX8 jumped another 11 points, while EX2 did not move.
So reducing the 4 accounts to below 50% produced overall gains in both scores:
Eliminated 1st of 5: EX2 + 9 EX8 no change
2nd of 5: EX2 + 7 EX8 no change
3rd of 5: EX2 no change EX8 +19
4th of 5: EX2 no change EX8 +11
Bottom line: EX2 +16
EX8 +30
I guess all this suggests to me is that
(a) both indexes do take into account not only what the highest utilization percentage is on any given account, but also how many such high utilization accounts there are, and
(b) the indexes do not necessarily move at the same time.
My conclusion in (a) contradicts an opinion that some folks in this forum have expressed.
Unfortunately I still do have one 50%+ account left. If and when I can wrestle that one down to under 50%, I'll update.
I wonder if there is a distinction based on the size of the account. I've got (mostly) high limits, but for example, my Chase Amazon which came early in my rebuild, stands at the $1,000 limit it started with years ago. Would it penalize me the same even though there's no huge hit to the aggregate?
@805orbust wrote:I wonder if there is a distinction based on the size of the account. I've got (mostly) high limits, but for example, my Chase Amazon which came early in my rebuild, stands at the $1,000 limit it started with years ago. Would it penalize me the same even though there's no huge hit to the aggregate?
I believe it would.
