Overlimit --> Minus 8 points

[SouthJamaica]

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@GreatLife wrote:

What reported UT for most of the points coming back? 

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Utilization was the same.

The only change was that the $160 over limit was removed.

[Thomas_Thumb]

So, perhaps 100.4% UT before $160 paydown and 99.9% after.

Assumes $160 is 0.5% of the card's CL ... Or (CL around $32k)

[HereHaveSomeCredit]

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@JoeRockhead wrote:

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. 

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Hi @JoeRockhead ! I have a thin profile (see signature) and my only open card's utilization changed to overlimit, as shown below, causing no changes to any of my 3 Fico scores. My Fako scores dropped 29 points due to it.  Although my open accounts are considered thin, I have 4 closed cards (2 charged-off and 2 paid as agreed) and 2 or 3 closed installment loans (paid as agreed). 5 years 5 months AAoA, 8 years 1 month AoOA, 1 month AoYA.

• Company Name

  CAPITAL ONE
• Utilization Percentage

  82%  to 101%
• Balance Amount ($400 limit)

  $329.00  to $404.00

[Thomas_Thumb]

Changes in utilization have less influence on Fico score on dirty vs clean scorecards. 

[SouthJamaica]

New update. Recently gained 9 points in EX FICO 8, and similar gains for TU and EQ. Didn't know what caused it. Now I know.

Today I had another pesky overlimit on an account, this one to the tune of $52, and immediately lost 9 points in EX FICO 8. So clearly going overlimit on a single account, even a little bit, is costing me 8 to 10 points in FICO 8.

[Realist]

Nice to see it was only a tiny dent in the armor.  Almost negligible.

I have a couple small events coming up myself.  I'm excited to see how his one is going to reflect on the score.  

1.   Co-signed on a vehicle that just now got paid off.  Small to decent balance remaining and then paid off.

2.  Home Depot special.  Rang the card up to maybe 70% -80% pursuing a purchase, come to find out only a few days later it went reduced 25%.  Dual ordered it because they wouldn't price match the original.  (Online sucked for this one, was an entire experience).  Have to jockey items, so one set is going back, but it'll be the more expensive one.  Meanwhile, will have to balance the numbers until they finalize returns.

I like watching the score, whether it goes up a bit, goes down a bit, or mostly stays the same.  Finally, some new action to see if it's going to make a difference.  Last time I had a negative situation, my score went up.  I'm going to say 50/50 this time, but should lean a tad lower - temporarily.

[Thomas_Thumb]

If you have another open loan, this one closing should not impact score either way. A high reported card utilization in the 70%-80% range could drop your score 5-15 points assuming impact on aggregate is minor, imo.

Can you separate the two events to isolate impact of each on score? I suspect not.

[TrapLine]

Fellow MyFIcoers ...

This begs a question? Some of us may have credit products that are NPLS/Flexible Spending Limits that actually allow over the limits spending.

Does anyone know how that shows up in the credit bureaus? 

Another scenario, I have redistributed credit limits before and the bureau showed the new limit which was less than the utilization. Cannot remember if this had an affect on the bureau?

[Thomas_Thumb]

NPSL cards have no set limit, just a hidden maximum and a POT limit if POT eligible. So, no penalty crossing a hidden limit that Fico can not see. The only exception to this is Fico EX score 2 which considers highest reported balance as a psuedo credit limit. Even then, you can't exceed 100% because new HB would increase to match current balance.

Fico does have penalties for "high" aggregate spend in $$. So, for example, reporting $35k on an AMEX npsl card would likely drop Fico 8 scores - especially if reported aggregate spend typically hovered in the $3k-$5k range.

Never had a flex spend account. Not sure how they report balance vs CL.

[TrapLine]

@Thomas_Thumb 

JP Morgan Chase and US Bank both offer some cards with the Flexible option. Usually show as "Revolving Line of Credit" or "Credit Access Line".  Citi Bank has it today called a "Revolving Credit Limit" on some cards. In today's world it is most often seen on the higher tier cards or AF Cards (but not always).

Back in time First National Bank of Omaha had it along with numerous other credit card providers too numerous to mention here.

Shows on the monthly card statements. 

Not all cards had them. Many lenders dropped the Flex/NPSL at the magical date of August 1, 2015 when the requirements for $5,000, $10,000 etc credit lines were eliminated along with the mandates for most other higher tier rewards that were made optional by Visa, MasterCard, American Express and Discover (at one time Discover had a Black Card for those who spend more than $40,000 a year).