MC, congrats on hitting that eight-hundo milestone!
Prior to your AoYA drop to 0 months here, what was your AoYA prior? I'm thinking it must have been < 12 months, as if not your scores would likely have taken a 15-20 points penalty?
That would be my Discover card. It was 51 weeks old when I was approved for the DCU credit card and auto loan. I was wondering why I didn't take a score hit from the new accounts. My TU gained 9 points. I would have said that was from paying my first auto loan to under 9% but I added another auto loan to the mix.
I'm thinking I might lose some points when that first loan is paid off in September The origional amount was $24,995. It's now at $2200 (8.8% rounded to 9). The new loan is $28,300. ($53,295 for the two). I expect it to be $25,800 when loan #1 is paid off. So loan utilization will go from 57% to about 91%.
Congrats! That is an excellent result from all the effort to rebuild!
The 42% utilization shows you can still have an excellent score with some borrowing. And that is one purpose of getting to an excellent score.
My wife and I put almost all of our spend on a single credit card, which is in my name, she's the AU. It usually reports a balance of 10 to 20 %, which is paid in full every month. My other cards rarely show a balance. That's about 3 or 4 % of my revolving limit. Until about a year ago, I would notice big flucuations in my FICO 8 scores (I get scores from TU and EX from various credit cards, no way I am paying for them.) depending on what balance got reported. 790ish on the high end, 760 low end when their was a high balance on the main card, and more than one of my other cards reported a balance.
About a year ago (a little longer now, I think), my scores took a jump (from the 790s to the 810s). At the same time, there is very little variation in the score, it's between 810 and 816, even the month we had 32% util on the card, and one of my other cards reported a 5% balance. Nothing changed in my behavior; my overall limits went up, but not on the main card; no new accounts. Apparently, I aged on to a score card that's much less sensitve to balances.
I have a new installment loan that should report soon, I will be interested to see how that changes things.
It definitely sounds like based on your age of accounts factors that your scores are less sensitive today to balance changes than was the case prior.
Would you be able to tell us your AoYA, AAoA and AoOA now (when you're seeing 10 point or less fluctuations) compared to those same factors not too long ago when you were seeing up to 30 point fluctuations from the utilization sector of the FICO pie?