@Cblough93 wrote:
I know vantagescores can fluctuate wildly from util ratios. Sometimes as much as 150 points. I have heard FICO doesn't fluctuate like that.
when I go to the FICO app and use their simulator it estimates maxing out my card will drop my scores about 100 points each. Has anyone had real life experience with doing this? What were the results when you maxed out your cards?
As others have said, a lot.
But if you pay it off, it goes away quickly except with FICO 10T, which holds grudges even more than the other FICO models.
That is, the credit reports all the models use hold 7 year grudges for most negative information and 10 year grudges for Chapter 7 Bankruptcies (but 7 for underlying accounts), but FICO 10T the score additionally holds a grudge for a while if your credit profile had been deteriorating. You won't necessarily just get all of it back the month after you pay your cards off.
Thankfully, not many banks use it yet, but as usual they figure out ways to hurt us, never help. The only exception seems to be how the newer models treat these triple "darned" medical bills that most people have vexing them because some hospital billing department was in there making up numbers.
For them it makes sense because of people hurrying up and cleaning house before they want to take out a loan. But for the people who have actually been responsible and sustainably paid off their debt, it will take a while for the 10T model to reward them for doing a responsible thing, which is not good.
