Is anyone patiently waiting for credit card balances to report?

[Anonymous]

I am on a mission to get my score up by severely lowering my utilization levels.

Every time I get an new email...I think...."Is it from MyFico?? Did my new balance report yet?" and NO, it hasn't.
Here's what I'm waiting for:

Brylane Home. Reports around the 25th.
Utilization from 36% last period to 25% this period.

Capital One Platnium. Reports around the 21st.
Utilization from 93% to 75%

Capital One QS. Reports around the 21st.
Utilization from 89% to 76%

Merrick Bank - Reports around the 23rd.
Utilization from 73% to 62%

My overall utilization will go from 53% to 44%.

[Anonymous]

In crossing the 48.9% aggregate utilization threshold, you'd probably stand to pick up about 14-16 points.  On top of that, your highest utilization card will be crossing a threshold as well, perhaps good for another 4-5 points.  I estimate your net gain will be 18-21 points once all of your new balances report.

The waiting game can be annoying at times.  Have you tried requesting an off-cycle reporting from any of those lenders?  All you have to do is call them up or contact them via chat and ask if they can report your new balance.  It's hit or miss as to whether or not a lender will do this for you, but it seems to be about a 50% success rate for most people.  That may aid in getting some of your new balances updated a little quicker.

[Anonymous]

I didn't know this was even an option! I may try this.

18 - 21 points would seriously make my day.

[Anonymous]

Definitely stop back in this thread once your balances all update and you do another score pull to report your results.  I'm curious to hear how much you gain.

[Anonymous]

Yes, I definitely will.

Update: I just received an alert directly from Experian, as I have monitoring with them as well. My Capital One and Merrick balances reported! Gain of 15 points.

[Anonymous]

My overall utilization, according to the balances reported by Experian right now - 49%.  I'm right on the cusp. When my Brylane home balance reports it will get me under the 48.9%.

Exciting times, woohoo.

[Anonymous]

What you want to do is calculate your aggregate utilization yourself right now. That 49% is no doubt being rounded by the CMS. What you need to know is if it's 48.5+% being rounded up or 49.4%- being rounded down. The answer to this is crucial in understanding what FICO is computing your utilization on. My guess based on your gain is that you're at 48.x% already (being rounded up by the CMS) based on the 15 point gain you received. I'm definitely looking forward to your response to this!

[Anonymous]

BBS - I calculated it myself. I'm at 48.81%!

So this means - my 15 point gain already includes the benefit of my aggregate falling under the 48.9% threshold...

[Anonymous]

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@AnonymousBBS - I calculated it myself. I'm at 48.81%!

So this means - my 15 point gain already includes the benefit of my aggregate falling under the 48.9% threshold...

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Good job.  Yes, the 15 points you gained is from the aggregate utilization threshold crossing that I ballparked to be 14-16 points.  The next question is whether based on your highest individual card balance if you are experiencing the gain from that yet.  Did both of your CO balances update?  I see that you had two listed, both of which appeared to be 89%+ meaning both were maxed out.  If only one updated, you'd essentially have no change as far as your highest reported balance card, so you may be missing out on the 4-5 points or so that I estimated could be gained there.

[Anonymous]

Yes. Both maxed out cards reported to Experian at the same time. My due date & statement dates are the same on both cards. Nothing has hit the other bureaus yet.