So just checked on the student loan...apparently it reports the end of the month and payments generally take 24 hours to post. (Payment is due the 15th) so without time to move money, I could maybe bring it down to just under original balance, but not to 99% before tomorrow. It is being rounded to 101%, but is NOT listed as a flag on any of my bureau monitoring...
should I just leave it and hope for other things to bump my score? Or is bringing it from 101% to 99% going to give me 5 points? Not worth it for 1 mtg point 
I don't think there's any problem being over the original amount... student loans in deferrment have had this occur for an awfully long time to a large portion of the population so I can't see this as being a big deal. Also it really appears that the entire thing is aggregate anyway so I doubt there's much in the way on individual tradelines as such being over the original balance probably isn't a big deal with how things appear to be calculated.
Breakpoint we think is around 80% but that's not fully confirmed, I do know when I skipped my loans down to 60% I got all of 6 points on *one* mortgage score (Experian 98 aka FICO Risk Model v2) which on a real loan size like your SL's isn't really worth playing reindeer games with as that money is better served elsewhere in the mortgage process. EQ and TU 04 flatly ignore it, though on the flipside playing my reindeer games did keep me in the 720+ tier rather than falling further down so I wouldn't call it useless, just only situationally useful.
@Anonymous wrote:
@Anonymous wrote:I have a little bit of data to report. I have a $2050 interest only secured installment loan I took out in February 2014. I have a $5000 Lending Club loan I took out in March 2015. I have a $5000 Promise Financial loan I took out last month. That's the basics.
I used the Promise Financial loan, (WAY lower APR), to pay off the Lending Club loan and pay the smaller loan down. As of today, Promise Financial is not yet reporting, Lending Club is still reporting a balance of $4558, and the secured loan just reported the new balance of $125, last report was $525.
Experian Fico 8 score:
8.31: 707
9.1: 712, (an inq passed 1 year)
Today with the new balance on the smaller loan showing: 723
I'm hoping that the Lending Club loan reports the 0 balance before the Promise Financial loan hits. I'm really curious what kind of impact that will have on the score.
Followup. The Lending Club loan just reported paid, and the Promise Financial Loan hasn't reported yet. Small loan still reporting $125. EX score jumped from 722 to 741. EQ score jumped from 719 to 746. Hasn't reported paid on TU yet, (it's currently at 784).
So from 72% to 6%. Our scores are similar though our files are different, means very little but that's about the magnitude of my entire jumps across 2 breakpoints which suggests maybe 70%. Sloppy napkin math by yours truly, hopefully someone can step through 80 and 70 to nail it down. Thanks for the datapoint!
@Thomas_Thumb wrote:
@Revelate wrote:
@Anonymous wrote:
@Anonymous wrote:I have a little bit of data to report. I have a $2050 interest only secured installment loan I took out in February 2014. I have a $5000 Lending Club loan I took out in March 2015. I have a $5000 Promise Financial loan I took out last month. That's the basics.
I used the Promise Financial loan, (WAY lower APR), to pay off the Lending Club loan and pay the smaller loan down. As of today, Promise Financial is not yet reporting, Lending Club is still reporting a balance of $4558, and the secured loan just reported the new balance of $125, last report was $525.
Experian Fico 8 score:
8.31: 707
9.1: 712, (an inq passed 1 year)
Today with the new balance on the smaller loan showing: 723
I'm hoping that the Lending Club loan reports the 0 balance before the Promise Financial loan hits. I'm really curious what kind of impact that will have on the score.
Followup. The Lending Club loan just reported paid, and the Promise Financial Loan hasn't reported yet. Small loan still reporting $125. EX score jumped from 722 to 741. EQ score jumped from 719 to 746. Hasn't reported paid on TU yet, (it's currently at 784).
So from 72% to 6%. Our scores are similar though our files are different, means very little but that's about the magnitude of my entire jumps across 2 breakpoints which suggests maybe 70%. Sloppy napkin math by yours truly, hopefully someone can step through 80 and 70 to nail it down. Thanks for the datapoint!
My read on the data is as follows:
1) Reduced secured installment loan from 525/2050 (25.6%) to 125/2050 (6.1%) while reporting lending Club loan at 4558/5000 (91.2%) both times.
- Score increased from 712 to 723, Breakpoint at 20% or 10%?
2) Paid off Lending club loan (going from 91.2% to 0%) while maintaing secured loan at 125/2050 (6.1%).
- Score increase from 721 to 741 (crossed two breakpoints)?
Am I re-stating this summary correctly?
Oh that is interesting I might've misread it. Cap can you confirm TT's read and my new look at it? I think you have a busy report which might skew small changes but doing the math out of the first post, 72% to 66% aggregate if your assertion is right.
There's literally zero data that we've had so far that suggests individual utilization matters, and we've had some where it appears to be explicitly swabo given the changes so I'm hesitant to suggest that would be the rationale here, but 70% aggregate might be a breakpoint, we know somewhere around 20% or maybe 30% is at least based on my own data and that there's at least two, the first being 70 or 80.
Hard to say when people tend to have busy reports on this forum and changes don't happen in a vacuum. Is why I'm trying to get as clean as possible before my mortgage reports to try to get accurate data points.