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Testing Credit Card Utilization Thresholds

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Super Contributor

Re: Testing Credit Card Utilization Thresholds

@mowglidude 8.81% rounds to 9% though we just learned, so actually you aren’t yet under 9% per fico.

I’ll look forward to your dp first week of October, you mean? Btw, if you wanna read what we just learned from the experts, its stickied as the first post in UFS subforum.

Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
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? AoYA? Etc...
Message 71 of 119
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Frequent Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:

@mowglidude 8.81% rounds to 9% though we just learned, so actually you aren’t yet under 9% per fico.

I’ll look forward to your dp first week of October, you mean? Btw, if you wanna read what we just learned from the experts, its stickied as the first post in UFS subforum.


Yes, I meant October. I'll look for that UFS subforum. 

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 72 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/We-re-Tom-Quinn-amp-Tommy-Lee-FICO-Score...
Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
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? AoYA? Etc...
Message 73 of 119
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Valued Contributor

Re: Testing Credit Card Utilization Thresholds

Just to add a DP

 

DW - Experian FICO 08

 

Without realizing it, we just paid down all 7 open CC accounts to zero.  When that reported she went from 742 to  726

Then the account that I usually let report a small balance on which she is an AU on also reported zero balance -  Her scored went from 726 to 712.  The other two bureaus had similar but much less score changes.   

 

She has two 6+ YO paid CO's, $60k in CL's and a paid to 7% SSL reporting.  

 

We have seen this before but since she is pretty much clean now, the point drop was more drastic.  EX always is the largest FICO 08  swing when everything reports as a zero balance.  We try to have one AU account reporting a balance and another account or two showing a small balance.

 

 




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 74 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds


@spiritcraft1 wrote:

Just to add a DP

 

DW - Experian FICO 08

 

Without realizing it, we just paid down all 7 open CC accounts to zero.  When that reported she went from 742 to  726

Then the account that I usually let report a small balance on which she is an AU on also reported zero balance -  Her scored went from 726 to 712.  The other two bureaus had similar but much less score changes.   

 

She has two 6+ YO paid CO's, $60k in CL's and a paid to 7% SSL reporting.  

 

We have seen this before but since she is pretty much clean now, the point drop was more drastic.  EX always is the largest FICO 08  swing when everything reports as a zero balance.  We try to have one AU account reporting a balance and another account or two showing a small balance.

 

 


@spiritcraft1 True enough the higher you are the harder you fall. How big were the drops previously?

Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
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? AoYA? Etc...
Message 75 of 119
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Valued Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:

@spiritcraft1 wrote:

Just to add a DP

 

DW - Experian FICO 08

 

Without realizing it, we just paid down all 7 open CC accounts to zero.  When that reported she went from 742 to  726

Then the account that I usually let report a small balance on which she is an AU on also reported zero balance -  Her scored went from 726 to 712.  The other two bureaus had similar but much less score changes.   

 

She has two 6+ YO paid CO's, $60k in CL's and a paid to 7% SSL reporting.  

 

We have seen this before but since she is pretty much clean now, the point drop was more drastic.  EX always is the largest FICO 08  swing when everything reports as a zero balance.  We try to have one AU account reporting a balance and another account or two showing a small balance.

 

 


@spiritcraft1 True enough the higher you are the harder you fall. How big were the drops previously?


Actually with EX, still significant, perhaps 10 points with EQ and TU less in that order..  I still have many derogs, same age (nearing 7 years) and had about 10 points on EX, 6 or so on EQ and 2 on TU.  Everything reported as zero for me as well. 

 

In a few days, some small balances will report including one AU account for us and we will see what happens then.  I imagine all points will be gained back if history holds.  But the swings are big when you have a higher score and cleaner reports as in DW's case.  On EX, her total was 40 points for all zero including AU accounts.  That is huge.




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 76 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds

40 points is huge. Do you know how many points were allocated to each metric? Maybe we should revise the parameters if we have an outlier data point.
Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
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? AoYA? Etc...
Message 77 of 119
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Senior Contributor

Re: Testing Credit Card Utilization Thresholds

I would not magnify ranges due to outliers. They are not "typical". Ranges for guideance should be based on nominal - IMO. This helps hold down unrealistic expectations. If someone sees more or less than nominal, so be it. Cause for the outlier could relate to an undisclosed/unrecognized contributing factor.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 78 of 119
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Valued Contributor

Re: Testing Credit Card Utilization Thresholds


@Birdman7 wrote:
40 points is huge. Do you know how many points were allocated to each metric? Maybe we should revise the parameters if we have an outlier data point.

I have no idea if this data is useful but it did happen with no other changes.  All bureaus changed but not as drastically as EX. 

 

Looking back it was 22 in total over a few days as all of her accounts reported zero balance.  Most of her accounts report within a few days at the beginiing of the month)

The final 18 drop was in one day as my NFCU Go rewards reported a zero balance.  She is an AU on that account. 

Just prior, she was at a multi year high in terms of FICO 08 - 752

 

Again, she has just two 6.5 YO paid CO's and could be changing "buckets" or who knows what.   I will report back in a week to see what happens when an AU and one of her accounts report a small balance.

 




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
1-1-17 -
8-1-18 -
12-24-18 -
Current F08 -
Current F09 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
Message 79 of 119
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Super Contributor

Re: Testing Credit Card Utilization Thresholds


@spiritcraft1 wrote:

@Birdman7 wrote:
40 points is huge. Do you know how many points were allocated to each metric? Maybe we should revise the parameters if we have an outlier data point.

I have no idea if this data is useful but it did happen with no other changes.  All bureaus changed but not as drastically as EX. 

 

Looking back it was 22 in total over a few days as all of her accounts reported zero balance.  Most of her accounts report within a few days at the beginiing of the month)

The final 18 drop was in one day as my NFCU Go rewards reported a zero balance.  She is an AU on that account. 

Just prior, she was at a multi year high in terms of FICO 08 - 752

 

Again, she has just two 6.5 YO paid CO's and could be changing "buckets" or who knows what.   I will report back in a week to see what happens when an AU and one of her accounts report a small balance.

 


@spiritcraft1 I'm pretty sure that your right, it is the AZ penalties. She will experience scorecard reassignment when those COs fall off at 7 years though. Sounds like she'll have a very nice score at the point.

 

@Thomas_Thumb Point taken.

Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
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? AoYA? Etc...
Message 80 of 119
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