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Scores increase at 19% CC aggregate utilization

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800scoreplease
New Contributor

Scores increase at 19% CC aggregate utilization

Hi

 

My Equifax Fico 8 went from 795 to 802

My Experian went from 775 to 779

My Transunion score won't be available until later this month

the only change was aggregate utilization went from 20% to 19%. I only have one cc reporting a balance and the individual utilization is sitting at 62%.

 

my only two other accounts reporting any balance is a student loan that hasn't updated since Nov and a newly refinanced mortage that is less than 3% paid off. 





Starting Score: 727
Current Lowest Score: 820
Goal Lowest Score: 825

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Message 1 of 5
4 REPLIES 4
JFox418
Regular Contributor

Re: Scores increase at 19% CC aggregate utilization

Good to know. I'm shifting around some CC balances to new accounts to save interest. Was over 800 and dropped back under after hardpulls hit for the new accounts. I'm going to have 2 accounts over %50 and my aggregate will be down to %25 or so. It'll be nice to get it under %20 soon! 

 

You'll get a nice bump once that individual account is under %49 too 

Message 2 of 5
Who_wuda_thought
Frequent Contributor

Re: Scores increase at 19% CC aggregate utilization

Depending on when the newest card reports, it could possibly be the first bump you are seeing for aging of a new account.  One will see this score increase usually in the 4th month reporting, but it can lag a bit.  You mentioned in your other post that you got a new card 8/2021.

Scores as of January 11, 2023:



The Beginning - 7/2020
Central Bank Only Card MC (Began as $250 secured) --> $2000 unsecured
** 8/2021 Joined MyFico **
2021 New Cards (Aug.-Dec.)
BoA BankAmericard WMC $1200 --> $500 | BoA Customized Cash Rewards VS $1200 --> $1900 | Cap1 Quicksilver WEMC $3000 --> $3100 | FNBO Evergreen VS $3800 --> $11,300 | DISCOVER IT Cash $3000 | Lowes $4000
2022 New Cards (Jan.-March)
Citi Costco Anywhere VS $6000 | Commerce Bank Special Connections V $1000 | Cap1 Walmart Rewards WEMC $3000
(October-November)
NFCU More Rewards Amex $14,800 | PenFed Platinum VS $9000 | AMEX BCP $2000 | Bank of the West CB WMC $8000 | Walgreen's MC $4000

** Retired/Low Income south of $20k **
No Loan or Mortgage History
No BK, lates, derog's, collections or other baddies
Message 3 of 5
FireMedic1
Community Leader
Super Contributor

Re: Scores increase at 19% CC aggregate utilization


@800scoreplease wrote:

Hi

 

My Equifax Fico 8 went from 795 to 802

My Experian went from 775 to 779

My Transunion score won't be available until later this month

the only change was aggregate utilization went from 20% to 19%. I only have one cc reporting a balance and the individual utilization is sitting at 62%.

 

my only two other accounts reporting any balance is a student loan that hasn't updated since Nov and a newly refinanced mortage that is less than 3% paid off. 




Wait till that goes below 28%. Then you'll see a nice bump.




Homeowner since Sept 2020. 2021 Explorer ST Chase 3.1%. Sharing my experiences after BK from learning here. Started 540's.
Message 4 of 5
Junejer
Moderator Emeritus

Re: Scores increase at 19% CC aggregate utilization


@Who_wuda_thought wrote:

Depending on when the newest card reports, it could possibly be the first bump you are seeing for aging of a new account.  One will see this score increase usually in the 4th month reporting, but it can lag a bit.  You mentioned in your other post that you got a new card 8/2021.


I have to agree with this. Your aggregate utilization for your revolving cards are separate your installment loan utilization.






Starting Score: 469
Current Score: 811
Goal Score: 850

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