Question regarding Util (thin, young profile)

[Anonymous]

Hello everyone.

I'm wondering how many points I could possibly gain once my cap one card reports tomorrow? Below are my current balances, I have paid down the cap 1 to $0. Can I gain a good 20points? I know about the Util thresholds, can I gain a good amount of points since my profile is thin and so new?

Much appreciated! 

EX Fico 8:665

TU Fico 8:685

EQ Fico 8:678

Discover Student IT[08/19]: 142/1000 

Cap 1 QS[09/19]: 262/300

CLOSED: AU Chase CFU [05/19](Asked to be removed due to high UTIL)

No baddies, and perfect payment history.

My utilization according to the Experian app is 31% (404/1300)

[Anonymous]

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@Anonymous wrote:

Hello everyone.

I'm wondering how many points I could possibly gain once my cap one card reports tomorrow? Below are my current balances, I have paid down the cap 1 to $0. Can I gain a good 20points? I know about the Util thresholds, can I gain a good amount of points since my profile is thin and so new?

Much appreciated! 

EX Fico 8:665

TU Fico 8:685

EQ Fico 8:678

Discover Student IT[08/19]: 142/1000 

Cap 1 QS[09/19]: 262/300

CLOSED: AU Chase CFU [05/19](Asked to be removed due to high UTIL)

No baddies, and perfect payment history.

My utilization according to the Experian app is 31% (404/1300)

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There probably won't be anything on the EX 8 score. I've seen +19 on EQ8 and +14 on TU 8, twice now with only 2 cards. EX 8 never moved unless at a 3mo  increment in aging.

There is an entire year of meticulously tracked data , month by month, on my thin file with 2 cards here on the forum. (Scroll down in that post for the invidividual monthly links.

That full report on the effect of AZEO on all 28 FICO scores is here: 'AZEO' update of 28 FICO scores 

That is with a 4% to 1% aggregate change. I doubt you'll see that much at EQ/TU with 31% utilization, but it still might be 10pts+.

[Anonymous]

Oh wait...sorry, you're going to be at $142/$1300....that's 10.92 which is treated as 11%. That's better.

$52/$1300 on your profile would be really good. That 4% threshold is good for +3 on EX 8, +1 on TU 8, +3 on EQ 8.

[AllZero]

Hmmm... I think you stand a good chance. Let us know what your update scores report. Good luck.

[Anonymous]

So my Experian updated today and my score went up 39 points! Unfortunately my capital one card showed a balance of $46/$300 instead of the $0, great jump regardless.

Currently my score is a 704 Fico 8.

[Anonymous]

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@Anonymous wrote:

So my Experian updated today and my score went up 39 points! Unfortunately my capital one card showed a balance of $46/$300 instead of the $0, great jump regardless.

Currently my score is a 704 Fico 8.

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That's awesome! I totally overlooked the fact that you were also lowering individual utilization from 88% to 16% on that card!

I was just thinking of 'AZEO' - 1 at zero, 1 with a balance. +39...wow.

[Anonymous]

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@Anonymous wrote:

So my Experian updated today and my score went up 39 points! Unfortunately my capital one card showed a balance of $46/$300 instead of the $0, great jump regardless.

Currently my score is a 704 Fico 8.

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Congratulations on that huge jump! 👍

[Anonymous]

My new CL from Capital 1 also updated on my CR. So it's now $46/$500, $200 yayy!

When should I be getting pre qualify offers from Amex? I tried earlier but no offers. 

[AllZero]

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@Anonymous wrote:

So my Experian updated today and my score went up 39 points! Unfortunately my capital one card showed a balance of $46/$300 instead of the $0, great jump regardless.

Currently my score is a 704 Fico 8.

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Thanks for reporting back. That is a great score increase! You might be able to squeeze out a few more points once reported aggregate utilization is 8.9% or under.

39 points is huge. I was guesstimating around ~10 points for aggregate plus ~15 points for individual utilization thresholds being crossed based on ABCD2199's The Truth about Credit Card Utilization

[AllZero]

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@Anonymous wrote:

My new CL from Capital 1 also updated on my CR. So it's now $46/$500, $200 yayy!

When should I be getting pre qualify offers from Amex? I tried earlier but no offers.

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Congratulations on your CLI!

Maybe keep checking monthly with AmEx to see if you have any prequal offers?