Some Data Points for Utilization

[JustKeepSwmng]

Over the last month, I have paid off almost all of my debt and had an auto loan payoff as well. As I'm preparing for a new auto loan app I've been tracking the changes to my score as my utilization came down. Thought it might be helpful for people wondering about incremental bumps as you climb down the utilization pole. Below are my FICO 8 score refreshes during this past month. Of course, YMMV

File Context: 

Average age 6 years 10 months. Oldest 15 years. Last new account 2 months. Inquires 1/24 months. No baddies; 0 lates ever, no collections/public records, no BK history. Student loans. One personal loan. 11 total open accounts reporting, 7 revolvers. 

EX 721  55% util 

EQ 712  84% util

TU 711  76% util

Car loan payoff reported, prev balance $19k>0, closed

EX 687    (-34)

EQ 677   (-35)

EX 704 39%  (+17)

EQ 693  55%  (+20)

EX 733 17% (+29)

TU 698 39% (+5)

EX 733 17% 

EQ 720 17%  (+27)

TU 723 17% (+25)

EX 747 13% (+14)

EQ 735 13% (+15)

TU 750 13% (+27)

EX 773 (+26)

EQ 762 (+27)

TU 771 6% (+21)

[Jessie]

Keep it up! Have you noticed anything surprising?

[michelwoody433]

Thankyou for sharing! EZPassIN

[Thomas_Thumb]

Nice data points. Can you also add highest UT% on any of your cards at each score update?

Aggregate UT% is most important but Fico also considers highest UT on any of your individual cards and #/% of cards with balances. The #/% includes charge cards that are not considered in UT calculations.

[RobertS2]

What are you aiming for - below 30% on all? I wouldn't get too hung up on the noise in the meantime. 

[JustKeepSwmng]

Thanks!

The car loan drop off was very surprising to me. I always understood dthat it was only if you have no other installment loans, and I have multiple, including student loans that are probably also some of my oldest accounts. However, my autoloan was originally like $64k and it was at $19k before the payoff, so the balance of installment loans shifted significantly.

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@Jessie wrote:

Keep it up! Have you noticed anything surprising?

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[JustKeepSwmng]

This will take me some time to go through and collect. I'll try.

I did have a charge card reporting a balance, and all 7 revolvers had a balance throughout all stages. Even the ones I tried to pay off completely unfortunately had as little as $2 report due to some meter parking or something silly

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@Thomas_Thumb wrote:

Nice data points. Can you also add highest UT% on any of your cards at each score update?

Aggregate UT% is most important but Fico also considers highest UT on any of your individual cards and #/% of cards with balances. The #/% includes charge cards that are not considered in UT calculations.

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. I wont be able to accomplish an AZEO until my January statements probably. 

[JustKeepSwmng]

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@RobertS2 wrote:

What are you aiming for - below 30% on all? I wouldn't get too hung up on the noise in the meantime. 

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I accomplished what I wanted. I just wanted to get the best APR on my loan, and also of course to pay off all my debt. The car loan was unexpected, so I had to quickly get things into shape.  I got to 5-6% utilization on all bureas before getting my car on Friday, and am happy with the rate I got (4.99% on used car, incentives and deal discount). I also wanted to grab a couple cards which I was able to get 2 out of the 3 targets. Will be gardening now and long term goal 800+ which I think is possible very soon once the new account and inquiries age.