How is it Possible I Gained 53 FICO 08 Points in a Month?

[10022016]

My current Experian FICO 08 score is 776 and Discover informs my Transunioin FICO 08 is 793. My total utilization is 2%; it dropped from 9%. I have a perfect credit report except that my Citi Double Cash was nearly at 60% utilization last month. Now it is at 15%--could this be the reason my score jumped drastically high? I have 7 hard inquiries for Experian. Most of them will drop before next summer.

[Revelate]

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@10022016 wrote:

My current Experian FICO 08 score is 776 and Discover informs my Transunioin FICO 08 is 793. My total utilization is 2%; it dropped from 9%. I have a perfect credit report except that my Citi Double Cash was nearly at 60% utilization last month. Now it is at 15%--could this be the reason my score jumped drastically high? I have 7 hard inquiries for Experian. Most of them will drop before next summer.

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From what to what?  

Not likely either on total utilization nor individual utilization on the Double Cash.  Did you get some aging in your oldest tradeline or AAOA potentially?  Sure paying down the one card might've been some difference, but 50+ points is a major change.  Congrats though!

[SouthJamaica]

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@10022016 wrote:

My current Experian FICO 08 score is 776 and Discover informs my Transunioin FICO 08 is 793. My total utilization is 2%; it dropped from 9%. I have a perfect credit report except that my Citi Double Cash was nearly at 60% utilization last month. Now it is at 15%--could this be the reason my score jumped drastically high? I have 7 hard inquiries for Experian. Most of them will drop before next summer.

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A drop in overall utilization from 9 to 2% would usually produce some points.

A drop in utilization on a single card from 60 to 15% would usually produce a goodly number of points.

As to whether these 2 point gains yeielded 53 points is difficult to say. It would depend on one's profile, but in most profiles it would require something else happening to get a boost of that size.

[10022016]

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@Revelate wrote:

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@10022016 wrote:

My current Experian FICO 08 score is 776 and Discover informs my Transunioin FICO 08 is 793. My total utilization is 2%; it dropped from 9%. I have a perfect credit report except that my Citi Double Cash was nearly at 60% utilization last month. Now it is at 15%--could this be the reason my score jumped drastically high? I have 7 hard inquiries for Experian. Most of them will drop before next summer.

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From what to what?  

Not likely either on total utilization nor individual utilization on the Double Cash.  Did you get some aging in your oldest tradeline or AAOA potentially?  Sure paying down the one card might've been some difference, but 50+ points is a major change.  Congrats though!

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"From what to what?" My current FICO 08 score from Discover (Transunion FICO 08) is currently at 793, so deduct 50, that would give 740. I'm asuming that is what you are asking me because the answer I provided is too obvious. I'm very surprised because my  AAoA is only 4.5 years. 

Anyhow! My previous topic I created last week asked, "How long would it take to get a score of 800?" At least, according to Discover FICO 08, I'm only 7 points away from achieving that score. 

[Anonymous]

I'm not sure I've ever heard of anyone gaining 50 points from dropping one card from 60% to 15% utilization while only moving aggregate utilization from 9% to 2%.  Single cards do have an impact, but not as much as aggregate.  Even if you dropped aggregate utilization from 60% to 15% utilization many mid-aged files or older files wouldn't see a score increase that great.

While the utilization change certainly increased your score some, I'd think something else happened at the same time such as crossing a AAoA threshold, inquries aging/falling off, perhaps an old negative item falling off, etc. to magnifiy the score increase.

[10022016]

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@Anonymous wrote:

I'm not sure I've ever heard of anyone gaining 50 points from dropping one card from 60% to 15% utilization while only moving aggregate utilization from 9% to 2%.  Single cards do have an impact, but not as much as aggregate.  Even if you dropped aggregate utilization from 60% to 15% utilization many mid-aged files or older files wouldn't see a score increase that great.

While the utilization change certainly increased your score some, I'd think something else happened at the same time such as crossing a AAoA threshold, inquries aging/falling off, perhaps an old negative item falling off, etc. to magnifiy the score increase.

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I never had any baddies, but, anyhow, here's the Discover FICO 08 score: 

[Anonymous]

I'm not doubting your score, I just don't think a utilization change on one card (even if it was significant) that dropped aggregate utilization 7% would result in a 50+ point gain without some other factors helping as well at the same time.  Not saying it isn't possible, but it doesn't seem likely.  Maybe others can chime in that have done a similar single-card utilization drop that resulted in a minor aggregate utilization drop (within the 1%-9% optimal range both times) and describe what happened with their scores.

It also looks like your score would benefit greatly from the share secure loan technique.  If you check that out and implement it, your scores would cruise into the 800's easily.

[Thomas_Thumb]

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@Anonymous wrote:

I'm not sure I've ever heard of anyone gaining 50 points from dropping one card from 60% to 15% utilization while only moving aggregate utilization from 9% to 2%.  Single cards do have an impact, but not as much as aggregate.  Even if you dropped aggregate utilization from 60% to 15% utilization many mid-aged files or older files wouldn't see a score increase that great.

While the utilization change certainly increased your score some, I'd think something else happened at the same time such as crossing a AAoA threshold, inquries aging/falling off, perhaps an old negative item falling off, etc. to magnifiy the score increase.

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^ Agreed

Dropping Ag UT % from 9% to 2% and an individual card from 60% to 15% may be worth 15 to 20 points on a somewhat thin, "youngish" profile. For many profiles there would be no change in score or perhaps 5 point bump up.

Something else is in play with 50 point step change in score that has not been uncovered with the information provided.