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Testing Credit Card Utilization Thresholds

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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. 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


@mowglidude Impressive work! Great job! Looking forward to the next results!!😊

 

and I don't know if we said it before, but your scorecard would be clean/thick/aged/no new account, so this should be instructive to those on the same scorecard to an even larger degree. 

forgive me but did you have any open installment loans currently? And what would be your aggregate installment B/L do you know?

 

FYI:

B/L= current balance/amount loaned. So it's just like revolving utilization except its for installment, and it's done in the aggregate. So, just like you add up all the credit card balances and divide them by the sum of the credit limits, same principle except you add up all the current installment balances and divide by the sum of the amounts loaned. 

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 61 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:

@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. 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


@mowglidude Impressive work! Great job! Looking forward to the next results!!😊

 

and I don't know if we said it before, but your scorecard would be clean/thick/aged/no new account, so this should be instructive to those on the same scorecard to an even larger degree. 

forgive me but did you have any open installment loans currently? And what would be your aggregate installment B/L do you know?

 

FYI:

B/L= current balance/amount loaned. So it's just like revolving utilization except its for installment, and it's done in the aggregate. So, just like you add up all the credit card balances and divide them by the sum of the credit limits, same principle except you add up all the current installment balances and divide by the sum of the amounts loaned. 


My two installments are at a 59.98% aggregate UT as of today.

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 62 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds

I'm very disappointed today. I was looking for a big boost, going below the 8.99% aggregate UT threshold as I did today, down to 8.81% aggregate UT and I had no score change, 0 points. I was at 10.53% aggregate UT before. So I'm still stuck at a 798 FICO 8, which is a bummer. I was expecting to go over 800 for sure, after going below that threshold. Did I miss something? Has the threshold changed recently? I know I'm rounded up to 9%, is that the problem? 

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 63 of 119
Highlighted
Super Contributor

Re: Testing Credit Card Utilization Thresholds


@mowglidude wrote:

I'm very disappointed today. I was looking for a big boost, going below the 8.99% aggregate UT threshold and I did today, down to 8.81% aggregate UT and I had no score change, 0 points. I was at 10.53% before. So I'm still stuck at a 798 FICO 8, which is a bummer. I was expecting to go ovwer 800 for sure, going below that threshold. Did I miss something? Has the threshold changed recently? I know I'm rounded up to 9%, is that the problem? 


@mowglidude Funny you ask that. Fico experts the other day said they use traditional rounding, so the 8.99% is a myth, which was here long before I. 

Basically, 9.4=9, so no need to be at 8.99 to stay under 9...it is 9!

 

You went from 11% to 9%. We don't know if the thresholds at 9 or 10, was assuming 10, but from your dps, maybe its 9%! Let us know what happens when you go under 9% please!

 

Also, no chance you're maxxed on your scorecard is there?

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 64 of 119
Highlighted
Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:

@mowglidude wrote:

I'm very disappointed today. I was looking for a big boost, going below the 8.99% aggregate UT threshold and I did today, down to 8.81% aggregate UT and I had no score change, 0 points. I was at 10.53% before. So I'm still stuck at a 798 FICO 8, which is a bummer. I was expecting to go ovwer 800 for sure, going below that threshold. Did I miss something? Has the threshold changed recently? I know I'm rounded up to 9%, is that the problem? 


@mowglidude Funny you ask that. Fico experts the other day said they use traditional rounding, so the 8.99% is a myth, which was here long before I. 

Basically, 9.4=9, so no need to be at 8.99 to stay under 9...it is 9!

 

You went from 11% to 9%. We don't know if the thresholds at 9 or 10, was assuming 10, but from your dps, maybe its 9%! Let us know what happens when you go under 9% please!

 

Also, no chance you're maxxed on your scorecard is there?


Maxxed on my scorecard? What do you mean? What if I go below 8.499% aggregate UT, will that round down and give me an 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 65 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

You’re in a clean card?

Yes on math
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 66 of 119
Highlighted
Super Contributor

Re: Testing Credit Card Utilization Thresholds

 
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 67 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:
You’re in a clean card?

Yes on math

I believe so: 

  • 100% ontime payments for revolving and installments, not lates, no derogs
  • No collections, settlements, negatives, baddies
  • 5 hard inquiries (1 less than 1 year) (2 will fall off in Oct 2020)
  • $30,415 in installment debt (1 pers loan, 1 Auto)
  • AoOA: 8.1 years
  • AoORA: 8.1 years
  • AAoA: 4.3 years
  • AoYRA: 1.6 years
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 68 of 119
Highlighted
Super Contributor

Re: Testing Credit Card Utilization Thresholds

@mowglidude Yeah you’re definitely on a clean card then. You're not maxed out. you should see an increase hopefully when you go under 9% then or under 8.4% to be specific, I hope. After those new revelations we need this data point, you’re doing a good service!

I’m anxiously looking forward to your results somehow I missed your post earlier.

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 69 of 119
Highlighted
Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:

@mowglidude Yeah you’re definitely on a clean card then. You're not maxed out. you should see an increase hopefully when you go under 9% then or under 8.4% to be specific, I hope. After those new revelations we need this data point, you’re doing a good service!

I’m anxiously looking forward to your results somehow I missed your post earlier.


I'm under 9 now at 8.81% aggregate UT, with no score change, 0. Next payment posting where I can pay down under 8% is first week of September.

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 70 of 119
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