Paying off large amount on high CL card - Data point

[atarvuzdar]

I just wanted to share a data point on the impact of paying down a large amount on a very high limit credit card.

As my signature indicates, my BofA credit card has a limit of $99,900. My DH and I typically use this card for balance transfers from time to time due to the high limit and BofA sends us offers for transfers all the time. Last month I received a really large (to me) bonus and we used it to pay off both DH's credit cards and my BofA.

Last month, the BofA reported a balance of $15,906 with a limit (at the time) of $92,000 (17.3% individual CC UTI, well below 10% overall UTI as I have no other cards reporting a balance).

I paid off the balance and also asked for a CLI during the same online session. 

This month, my BofA reported a balance of $449 out of $99,900 (0.45% individual CC UTI, and even lower for overall UTI--still no other cards reporting a balance).

Impact:

EQ +1 to 843

TU +4 to 838

EX +10 to 844

EX has always been more sensitive to overall balances than it has been to things like AZEO, etc. I think that's why it had such a large increase as compared to the other bureaus.

Some additional info:

• All data across all bureaus is the same
• 0 inquiries on any bureau
• AAoA = 7yr 8mo
• AoOA = 18yr even
• AoYA = 1yr 1mo
• 1 mortgage ($102,559/$137,000, or 74.9% of total mortgage)
• 1 HELOC ($65,711/$73,000, or 90.0% of total HELOC)
• 1 student loan ($73,542/$71,076, or 103.5% of total student loan - loan is rehabbed from when I was a very careless and financially poor 20-something, thus the % over 100%)

Next on my list is to work on bringing down the amounts owed on my installment loans and to let my profile age some more. Don't think there's much else I can do to get to 850 at this point!

[CYBERSAM]

That is actually pretty awesome! Would you happen to know what is your Fico 10 score relative to other models?

[atarvuzdar]

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@CYBERSAM wrote:

That is actually pretty awesome! Would you happen to know what is your Fico 10 score relative to other models?

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Here is the full gamut of scores from the new report I pulled today:

Date	Score	Equifax	TransUnion	Experian
4/11/2022	FICO 8	843	838	844
	Mortgage 5 4 2	809	784	809
	Auto 5 4 2	827	814	825
	Auto FICO 8	862	865	868
	Auto FICO 9	862	858	844
	Bankcard 8	866	871	879
	Bankcard 5 4 2	819	816	837
	FICO 3			803
	Bankcard 9	850	849	837
	FICO 9	840	840	826
	FICO 10	839	843
	FICO 10T	840	844
	Auto FICO 10	863	879
	Bankcard 10	849	858

[CYBERSAM]

Excellent DPs. So loans are not effecting the Fico 10 that much!