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Testing Credit Card Utilization Thresholds

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Super Contributor

Re: Testing Credit Card Utilization Thresholds

@mowglidude read this: https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Testing-greater-than-8-99-but-less-than-...

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 51 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

Same principle applies all the other known thresholds 29%, 49%, 69%, 89%, 100%.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 52 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:
If you go to Experian or whatever you’re going to see they are rounded to the even dollar as far as the bureau knows, so that’s the information the algorithm gets, but then you have to average them and round up and that’s the number of the algorithm uses.

What do you mean average them? Average the total balances? 

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 707 TU 705 EQ 708 06/19/20
Goal: 740 across all bureuas
Message 53 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

Right you take all the reported balances which will be even dollars and then you do a sum function in excel and then you also do a sum function on the credit limits. Then you divide the first sum by the second sum. 

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 54 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

Edit removed spoke wrong half-asleep.

 

There is no average function involved you simply sum the reported (truncated whole number, no cents) balances divided by the sum of the credit limits and then you round up the percentage to the next whole number.

 

@mowglidude I apologize to you, in my lack of sleep, I don't know where the average function came, from I totally apologize. I think I've corrected the post in this thread. Ill go back and check further. I profusely apologize, forget everything I said about average they should be sums. 

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 55 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds

Today another card posted from 59% individual UT to 0% UT and my score increased another 12 points, to 761 EX FICO 8 today. That is after a 15 point gain yesterday. Nice! My aggregate UT went from 29.48% yesterday to 24.59% today. I'm encouraged to see my scores when the next 3 accounts post in the coming week. 

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 707 TU 705 EQ 708 06/19/20
Goal: 740 across all bureuas
Message 56 of 119
Highlighted
Super Contributor

Re: Testing Credit Card Utilization Thresholds

I apologize to everyone reading I misspoke earlier in the thread when I said average meaning sum, I have went back and corrected it for everyone reading.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 57 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds

Another card posted from 67% individual UT, down to 27% and my aggregate UT dropped from 24.01% to 17.4%. My score went from 761 - 775 today, a 14 point gain on EX FICO 8.

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 707 TU 705 EQ 708 06/19/20
Goal: 740 across all bureuas
Message 58 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds

Oh happy day! Another three cards posted today, one from 67% individual UT, down to 0% and one from 66% to 27% individual UT. I also had a 1% individual UT go down to 0% UT,  if that matters. My aggregate UT dropped from 17.4% to 10.61%. My score went from 775 - 798 EX FICO 8, another 23 point gain. I also pulled TU and EQ FICO 8 reports today after 30 days. EQ FICO 8 score went from 702 on Aug 7th, to 800 today, a 98 point gain in the last 30 days. TU FICO 8 went from 708 on Aug 7th, to 814 today, a 106 point gain. Both EQ and TU still have not posted the 67% to 0% card. I am pretty happy thus far. Next test coming up will be to post aggregate UT going below the 8.9% threshold and see where my score goes from there. Stay tuned.

 

Tri Bureau_090820.jpg

Starting Score: 589/599/598 5/8/14
FICO® Score 8: EX 707 TU 705 EQ 708 06/19/20
Goal: 740 across all bureuas
Message 59 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds


@mowglidude wrote:

Oh happy day! Another three cards posted today, one from 67% individual UT, down to 0% and one from 66% to 27% individual UT. I also had a 1% individual UT go down to 0% UT,  if that matters. My aggregate UT dropped from 17.4% to 10.61%. My score went from 775 - 798 EX FICO 8, another 23 point gain. I also pulled TU and EQ FICO 8 reports today after 30 days. EQFICO 8 score went from 702 on Aug 7th, to 800 today, a 98 point gain in the last 30 days. TU FICO 8 went from 708 on Aug 7th, to 814 today, a 106 point gain. Both EQ and TU still have not posted the 67% to 0% card. I am pretty happy thus far. Next test coming up will be to post aggregate UT going below the 8.9% threshold and see where my score goes from there. Stay tuned.

 

Tri Bureau_090820.jpg


Congratulations Smiley Happy


Total revolving limits 653000 (575000 reporting)

Message 60 of 119
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