Overlimit --> Minus 8 points

[SouthJamaica]

Just a quick data point on the impact of going over limit.

I have never had a balance over my limit before. But the other day, forgetting how close I was to the limit on a card, I went overlimit by $160 when an interest charge was added.

It cost me 9 points in EX FICO 8.

[JoeRockhead]

Would be interesting to see what the difference in score penalty is between a older, thicker file such as yours, and a young thin file. 

[FicoMike0]

That's interesting! What was the before utilization, was it already over 89%?

[SouthJamaica]

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@FicoMike0 wrote:

That's interesting! What was the before utilization, was it already over 89%?

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Yes

[SouthJamaica]

The TU FICO 8 dropped 12 points.

[FicoMike0]

So we can add a new util bin at 99%?

[SouthJamaica]

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@FicoMike0 wrote:

No.

This was a penalty for being over the limit. 

BTW EQ FICO 8 dropped 10 points.

So bottom line:

Overlimit cost:

EQ FICO 8      10 points

TU FICO 8       12 points

EX FICO 8         8 points

[FicoMike0]

Good data! Sorry you had to take one for the team to get it.

[SouthJamaica]

Update:

With the passage of a month's time, and the account reporting normally rather than over limit, most of the points came back.

[GreatLife]

What reported UT for most of the points coming back?