Impact of Single revolver going under 8.9

[dynamicvb]

I've had a 0% interest promo on my discover card that is coming to an end. Last month it was at 15% and my overall utilization was at 7%. Since this card is about to start incurring interest, I went ahead and paid it down to 2% this morning. All my other cards are at 0 balance now, but I do think there was a little on one last time it reported, less than 1% on that card. So last month it would have been 2/4 revolvers reporting and an overall of 7% util.

This month it will be 1/4 reporting and my overall utilization of about 1% with 2% on this one card. Does anyone think I should see an increase in scores out of this or will it stay flat? Just curious do not have any plans on applying for anything, I've just become addicted to seeing my scores rise. :-)

[Anonymous]

Your scores may increase, but IMO it wouldn't be due to the single revolver dipping below 8.9%;  It would be from the move from 50% of revolvers with a balance to 25% of them.  On my profile such a move resulted in a Fico 8 gains of 3 points on TU, 6 points on EQ and 0 points on EX, where EX is bulletproof for me when it comes to number of accounts with a balance. 

[dynamicvb]

I was thinking that may make a difference in the number reporting. I'm hoping it will push my TU over 750, that one has been hung just under it for a while. I did get it up to 748 a couple of months ago when my overall util was a good bit higher, so maybe this will push it over. Hopeful

There is one other thing that may give me a few points on two of them. I should have 2 HP's reaching a year on each EX and EQ. I don't remember if I actually lost anything when those hit or not, but they may give me something there too. Too bad I don't have one of those on TU, but I won't have any inquires reaching a year on it until next Feb. 

[SouthJamaica]

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@dynamicvb wrote:

I've had a 0% interest promo on my discover card that is coming to an end. Last month it was at 15% and my overall utilization was at 7%. Since this card is about to start incurring interest, I went ahead and paid it down to 2% this morning. All my other cards are at 0 balance now, but I do think there was a little on one last time it reported, less than 1% on that card. So last month it would have been 2/4 revolvers reporting and an overall of 7% util.

This month it will be 1/4 reporting and my overall utilization of about 1% with 2% on this one card. Does anyone think I should see an increase in scores out of this or will it stay flat? Just curious do not have any plans on applying for anything, I've just become addicted to seeing my scores rise. :-)

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If I'm reading you correctly, you're about to start paying interest? Please don't do that. Pay it off. You need to let one or two small balances report, but you don't need to carry them into the next billing cycle.

[dynamicvb]

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@SouthJamaica wrote:

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@dynamicvb wrote:

I've had a 0% interest promo on my discover card that is coming to an end. Last month it was at 15% and my overall utilization was at 7%. Since this card is about to start incurring interest, I went ahead and paid it down to 2% this morning. All my other cards are at 0 balance now, but I do think there was a little on one last time it reported, less than 1% on that card. So last month it would have been 2/4 revolvers reporting and an overall of 7% util.

This month it will be 1/4 reporting and my overall utilization of about 1% with 2% on this one card. Does anyone think I should see an increase in scores out of this or will it stay flat? Just curious do not have any plans on applying for anything, I've just become addicted to seeing my scores rise. :-)

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If I'm reading you correctly, you're about to start paying interest? Please don't do that. Pay it off. You need to let one or two small balances report, but you don't need to carry them into the next billing cycle.

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Not planning on paying any interest. I wanted to just use their money for free :-) I've still got another month and my cashback match posts next month. There will only be 400 bucks left on it after today's payment posts and I'll apply the cashback and pay the balance next month before any interest hits.

[SouthJamaica]

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@dynamicvb wrote:

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@SouthJamaica wrote:

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@dynamicvb wrote:

I've had a 0% interest promo on my discover card that is coming to an end. Last month it was at 15% and my overall utilization was at 7%. Since this card is about to start incurring interest, I went ahead and paid it down to 2% this morning. All my other cards are at 0 balance now, but I do think there was a little on one last time it reported, less than 1% on that card. So last month it would have been 2/4 revolvers reporting and an overall of 7% util.

This month it will be 1/4 reporting and my overall utilization of about 1% with 2% on this one card. Does anyone think I should see an increase in scores out of this or will it stay flat? Just curious do not have any plans on applying for anything, I've just become addicted to seeing my scores rise. :-)

---

If I'm reading you correctly, you're about to start paying interest? Please don't do that. Pay it off. You need to let one or two small balances report, but you don't need to carry them into the next billing cycle.

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Not planning on paying any interest. I wanted to just use their money for free :-) I've still got another month and my cashback match posts next month. There will only be 400 bucks left on it after today's payment posts and I'll apply the cashback and pay the balance next month before any interest hits.

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whew

[Anonymous]

So BBS, what about the one revolver you believe you lost points for, for going over 8.9%? Do you think that’s only on thick profiles?

[Anonymous]

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@Anonymous wrote:
So BBS, what about the one revolver you believe you lost points for, for going over 8.9%? Do you think that’s only on thick profiles?

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I'm not sure, but relative to other profiles my situation seemed to be somewhat of an outlier example.  I was also able to isolate my change to just the crossing of that 8.9% individual threshold, where the OP here is going from 50% of revolvers with a balance to 25% of revolvers with a balance.  Going from 50% of revolvers with a balance to 25% of revolvers with a balance based on the data we've seen is extremely likely to cause a score shift (though small) where crossing the 8.9% threshold on a single card while keeping aggregate utilization in an ideal place is definitely a more rare situation for a score shift.  I only bring that up as from the thread title the OP seemed to be focused on just the 8.9% threshold, while not necessarily taking number/percentage of accounts with a balance into consideration.  I just didn't want him to get a false-positive on his 8.9% threshold test.

[Anonymous]

I totally agree with you BBS. I was just asking because like you, I got the ding when I went to 23% on one card with aggregate at 1% at all times. When I took the card back to zero I got the points back, but still at 1% aggregate, with one card with a balance.

Definitely not number of accounts because I’m nowhere near those percentages and no other changes, so like you, would have to be that 8.9% individual utilization threshold.

[dynamicvb]

Thanks everyone. I should get an update on my TU. Tomorrow or Wednesday. I was incorrect on the number of revolvers. I looked again and that one did not report a balance last month, so the number of revolvers will be the same as last month when it reports. So other than another month on my age, not crossing any thresholds there, so this utilization changed should be the only difference.