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High utilization individual accounts & FICO 8

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Super Contributor

Re: High utilization individual accounts & FICO 8

Because as I have told you for almost a year now, sometimes credit cards from credit unions are funky or excluded or only partially counted.

I don’t understand why you find that so hard to believe SJ.

Try it with a bank card and then tell me what happens.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 21 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8

How did I know it was a credit union product?

DCU? That’s why I was trying to talk to you before about who the backend processors were on the various credit unions; certain ones report normally, certain ones are funky.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 22 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8


@Birdman7 wrote:
How did I know it was a credit union product?

DCU? That’s why I was trying to talk to you before about who the backend processors were on the various credit unions; certain ones report normally, certain ones are funky.

The change which initiated this thread was on my DCU card. When the reported balance dropped from 58% to 10% EX FICO 8 gained 10 points and TU FICO 8 gained 14 points.

 

I don't see anything funky about that. The only thing that was funky was that an even higher utilization from another account was still sitting there in the reports.

 

BTW who is the back end processor for DCU?


Total revolving limits 654000 (575000 reporting) FICO 8 EQ 714 TU 731 EX 713

Message 23 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8

I don’t know who the backend processor is for them, but we should maybe find out if we can find a list of the credit unions/products that are funky.

What about the one that was the highest utilization, where was IT from? Was it also DCU? That’s the one that is possibly funky.

Because IF the theory is correct that the highest individual utilization is the only ding from individual revolving utilization, then it was the highest one that appears to be funky.

Otherwise maybe NRB525 is right and maybe more than just the highest individual utilization card can cause a ding.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 24 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8


@Birdman7 wrote:
I don’t know who the backend processor is for them, but we should maybe find out if we can find a list of the credit unions/products that are funky.

What about the one that was the highest utilization, where was IT from? Was it also DCU? That’s the one that is possibly funky.

Because IF the theory is correct that the highest individual utilization is the only ding from individual revolving utilization, then it was the highest one that appears to be funky.

Otherwise maybe NRB525 is right and maybe more than just the highest individual utilization card can cause a ding.

Teachers FCU


Total revolving limits 654000 (575000 reporting) FICO 8 EQ 714 TU 731 EX 713

Message 25 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8


@Birdman7 wrote:

Otherwise maybe NRB525 is right and maybe more than just the highest individual utilization card can cause a ding.

I'm starting to lean toward this viewpoint as time passes based on some of the threads I've read on this forum.

 

2-3 years ago there seemed to be no doubt at all (from reading posts) that only highest individual utilization count mattered outside of aggregate, but lately that thesis seems to be questioned more and more and with good reason, IMO.

Message 26 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8

Thank you SJ.

We need to find out who the backend processor is for teachers Federal credit Union. We need to see if it correlates with other ones that are funky.

And I’m definitely open to either one. I can see how it makes sense if somebody has more than one card at high individual utilization would totally make sense. Because it is a higher risk.

We may have to formulate a test with bankcards and see what kind of results We can get. All we need is 2 low limit bankcards to test the theory.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 27 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8

What if high credit usage is a negative reason code for multiple high individual utilization revolvers?

And I just realized upon rereading the thread, SJ, you said you did get dinged when the 82% hit? and that was totally separate from anything else hitting right?

How much did you get dinged for the 58% when it hit? And how much did you get dinged for the 82% when it hit?
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 28 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8


@Birdman7 wrote:
All we need is 2 low limit bankcards to test the theory.

Correct.  The only issue is that many of us (especially those willing/wanting to do "testing" of these things) don't have low limit cards.  A few years back I was toying around with initiating a CLD on one of my seldom used $10k limit cards to $500, then I was able to PC it to a product allowing me to use it more often where the $10k limit was actually beneficial.

Message 29 of 35
Highlighted
Super Contributor

Re: High utilization individual accounts & FICO 8

I happen to have one for testing purposes that is somewhat low purposely, but the second one is not quite as low. Maybe we can find a volunteer that has 2 low limit cards And who is willing to keep all other variables constant.

Do we have a member that has 2 low limit cards that is willing to do a test and keep all of the other variables constant? Anyone?
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 30 of 35
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