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The 'All At Just Under 8.99% Utilization' experiment

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Re: The 'All At Just Under 8.99% Utilization' experiment

[UPDATE: January 7, 2019]

 

Transunion finally updated. New FICO 8 Score: TU 689

It looks like all the scores are stable now. I'll wait until February 11 to generate a new myFICO monthly report (I will still get FICO score changes when they happen, just without the detail of a full report), to allow time for Transunion to update after both of my card statement closing dates. Card 2 closes the day after Card 1.

 

These snapshots show the result of a loan closing, and new revolving accounts showing up at each bureau. It's basically around a 30 point drop on this scorecard for closing a loan. [EDIT Clarification: It's a FINAL ~30 point loss after a HUGE DROP for 1 loan closing without any revolving accounts on the report (-81 points at Experian for instance, I'm unsure how much a single loan drop is for the other 2 bureaus because I don't get that level of detail with myFICO alerts) followed by a HUGE GAIN for adding a new revolving account.]  Huge gain for adding 1 new credit card, and the second card added right after doesn't seem to have any effect at all.

 

The next FICO score changes will be from 2 on-time payments reporting (to $0 balance of course), a 6.75% utilization on Card 1, and 7 to 8% utilization on Card 2. I'm done using Card 1 for this billing cycle - it has $135 on it out of $2000. I just started using Card 2 for gas and groceries, and will continue to use it up to a maximum of $520 out of $6500, which is 8% utilization. These credit cards are merely a vehicle for proving that I always pay my bills on time and that I am extremely fiscally responsible.

 

myfico-dashboard-010719.png

 myfico-010719.png

 

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 31 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment


@Pikaboo-icu wrote:

I use the Citi Costco Card at the pump as my main method to purchase gas.

You do not need to use the membership card- the Citi card works as both membership & payment. 


Thank you, Pikaboo - you are right, I only had to use the one card. I only ended up looking like an idiot at the Costco gas pumps for 10 seconds, because apparently I got the one gas lane reserved for peasants and it didn't have Visa payWave. So I was looking for it on the pump while the guy behind me was probably saying, "Oh great, another new member at the gas pumps for the first time."

 

Just adding this for anyone else browsing: Another cool thing is when I got to the register, I just handed the guy the Citi card instead of membership card, and after he scanned everything he just asked me if it was ok to wave it over the terminal. I said "Yes", got my card and receipt and on my way. Pretty cool.

 

 

 

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 32 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

table-011119.pngJanuary 11, 2019 Report

 

myfico-alerts-011119.pngThe Big Bang.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 33 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

I'll be tracking 32 scores from now on. In a few weeks I will start getting Experian Creditworks Premium updates from 2 new statement balances reporting at 7/7/7 utilization. That's Card 1 @ 7%, Card 2 @ 7%, Aggregate at 7%.

 AoOA 1 yr 1 mo, AAoA 5 mo, 1 closed loan, 2 open revolving
CassTrack-32 v1.11 inq EQ, 3 inq TU (1 < 1 yr), 1 inq EX, No derogatories, No delinquencies
Baseline: 01/18/2019Card 1 Balance 40/2000, Card 2 Balance 0/6500
 Both statement balances were recorded at all 3 CRA's between 1/3 and 1/9.01/18/19
FICO 8EQ684
 Short credit history, Short revolving credit history, No recent loan activity
FICO 8TU *(Dropped 4pts from 689 on 1/21/19, 'Too many accounts with balances' was added)685*
 Short credit history, Short revolving credit history, No recent loan activity
FICO 8EX699
 Short credit history, Short revolving credit history, Few accounts in good standing
FICO 9EQ699
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO 9TU698
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO 9EX708
 Short credit history, Short revolving credit history, Few accounts in good standing, Too many accounts with balances
Vantage Score 3.0EQ676
Vantage Score 3.0TU672
Vantage Score 3.0EX676
Experian National Equivalency ScoreEX730
FICO Auto 8EQ655
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Auto 8TU675
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Auto 8EX683
 Short credit history, Short revolving credit history, No recent loan activity, Few accounts in good standing
FICO Auto 9EQ704
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Auto 9TU700
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Auto 9EX716
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Bankcard 8EQ676
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Bankcard 8TU687
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Bankcard 8EX703
 Short credit history, Short revolving credit history, No recent loan activity, Few accounts in good standing
FICO Bankcard 9EQ709
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Bankcard 9TU711
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Bankcard 9EX718
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO 2EX727
 Short credit history, Short revolving history, Too many accounts with balances, Recently opened too many new credit accounts
FICO 3EX712
 Short credit history, Short revolving history, Too many accounts with balances, Seeking credit
FICO 4TU686
 Short credit history, Short revolving history, Recently opened new credit account, Seeking credit
FICO 5EQ696
 Short credit history, Short revolving history, Too many accounts with balances, Seeking credit
FICO Auto 2EX703
 Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances
FICO Auto 4TU679
 Short credit history, Short revolving credit history, No recent loan activity, Recently opened new credit account
FICO Auto 5EQ706
 Short credit history, Short revolving history, Too many accounts with balances, Recently opened new credit account
FICO Bankcard 2EX732
 Short credit history, Short revolving history, Too many accounts with balances, Recently opened too many new credit accounts
FICO Bankcard 4TU685
 Short credit history, Short revolving credit history, Few accounts in good standing, Recently opened new credit account
FICO Bankcard 5EQ705
 Short credit history, Short revolving history, Short installment credit history, Too few or too many revolving accounts
27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 34 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

I just accidentally PIF'd all accounts to zero and dropped 20 points. Experian alerted the drop to "no revolving accounts".
Will try to keep 8% going forward.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


Take the myFICO Fitness Challenge




Message 35 of 95
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Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment


@XtraCredit wrote:
I just accidentally PIF'd all accounts to zero and dropped 20 points. Experian alerted the drop to "no revolving accounts".
Will try to keep 8% going forward.

You mean you made payments to $0 just prior to the statement balances being reported to the bureaus?

 

Did Experian say 'no revolving accounts with balances'?

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 36 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

@cassie yes. This is what Experian said in my credit score alert.
I no longer have any balance reporting. I'm at $0 for all cards. 😐
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


Take the myFICO Fitness Challenge




Message 37 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment


@XtraCredit wrote:
@cassie yes. This is what Experian said in my credit score alert.
I no longer have any balance reporting. I'm at $0 for all cards. 😐

For the next statement balance, you should try letting 1 card report 6% utilization, with the rest still at zero and see what happens.

 

My Experian Creditworks Premium report tells me 'Ideal usage is 6%', like that's an important number to Experian. Maybe it is, maybe it isn't, but I'm pretty sure you'll get that 20 points back plus some extra.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 38 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

I'm just going to keep it around 8%.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


Take the myFICO Fitness Challenge




Message 39 of 95
Established Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

February 8, 2019: This is the baseline report for this experiment. Both cards now have 7% utilization. In March it will be 6/6, and April will be 5/5. Is there a breakpoint at 6 or 5 ? We'll see!

 

CassTrack-32 v1.2

Little Dipper

Common data

  • No derogatories
  • No delinquencies
  • 1 closed loan
  • 2 open revolving
  • 1 inquiry EQ: 12/18
  • 1 inquiry EX: 12/18

02/08/19

Previous Report

01/18/2019

  • AoOA: 1 yr 1 mo
  • AAoA: 5 mo
  • AoYA: 1 mo
  • 2 inquiries TU
  • Accounts with balances: 1
  • Card 1 Balance: 40/2000 (2%)
  • Card 2 Balance: 0/6500 (0%)
  • Aggregate Utilization: 0.47%

Current Report

02/08/19

What changed?

  • AoOA: 1 yr 2 mo
  • AAoA: 6 mo
  • AoYA: 2 mo
  • 2 to 1 inquiry TU
  • Accounts with balances: 2
  • Card 1 Balance: 135/2000 (6.75%)
  • Card 2 Balance: 453.41/6500 (6.98%)
  • Aggregate Utilization: 6.92%

***Note on TU scores***: An inquiry aged past 1 year on January 23. There was a myFICO alert to a +7 score change on January 31 (689 to 696), before any new statement balances were reported on either of my 2 revolving accounts. FICO 8 TU really only went down by 1 point with both cards carrying a balance.

 

Interesting EX change: One card reported its new statement balance 3 days before the other one, moving from $40 to $135, and my Experian score (from Experian CreditWorks report) went down 3 points (699 to 696). There were no other changes from the previous day's report. It looks like the EX FICO 8 score doesn't change moving to both cards with balances. But it does change a little on FICO 9.

 

From this point forward, the only changes to my credit file will be ageing, good payments, and various monthly statement balance changes all under 9% on both individual and aggregate. It will be very easy to identify changes in score from changing utilization percentages in the [4,8] interval.

 

New statement balances recorded at all 3 CRA's between 2/2 and 2/8. Score reports from myFICO 3B+, Credit Karma (TU/EQ VS3), and Credit.com (EX VS3, ENES)

01/18

Δ

02/08

FICO 8

EQ

684

-3

681

 

Short credit history, Short revolving credit history, No recent loan activity

FICO 8

TU [ an inquiry aged past 1 year on Jan 23, only 1 inq under 1 yr now]

689

+6

695

 

Short credit history, Short revolving credit history, No recent loan activity

FICO 8

EX

699

-3

696

 

Short credit history, Short revolving credit history, Few accounts in good standing

FICO 9

EQ

699

+7

706

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO 9

TU

698

 

698

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO 9

EX

708

-6

702

 

Change: Short credit history, Short revolving credit history, +No recent loan activity, Too many accounts with balances, -(Few accounts in good standing)

Vantage Score 3.0

EQ

676

+9

685

Vantage Score 3.0

TU

672

+8

680

Vantage Score 3.0

EX

676

+9

685

Experian National Equivalency Score

EX

730

+1

730

FICO Auto 8

EQ

655

-3

652

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Auto 8

TU

675

+7

682

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Auto 8

EX

683

-3

680

 

Short credit history, Short revolving credit history, No recent loan activity, Few accounts in good standing

FICO Auto 9

EQ

704

+8

712

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Auto 9

TU

700

 

700

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Auto 9

EX

716

-7

709

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Bankcard 8

EQ

676

-3

673

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Bankcard 8

TU

687

+7

694

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Bankcard 8

EX

703

-5

698

 

Short credit history, Short revolving credit history, No recent loan activity, Few accounts in good standing

FICO Bankcard 9

EQ

709

+6

715

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Bankcard 9

TU

711

-1

710

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Bankcard 9

EX

718

-6

712

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO 2

EX

727

-6

721

 

Short credit history, Short revolving history, Too many accounts with balances, Recently opened too many new credit accounts

FICO 3

EX

712

+1

713

 

Short credit history, Short revolving history, Too many accounts with balances, Seeking credit

FICO 4

TU

686

-4

682

 

Short credit history, Short revolving history, Recently opened new credit account, Seeking credit

FICO 5

EQ

696

-5

691

 

Short credit history, Short revolving history, Too many accounts with balances, Seeking credit

FICO Auto 2

EX

703

-5

698

 

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

FICO Auto 4

TU

679

-4

675

 

Short credit history, Short revolving credit history, No recent loan activity, Recently opened new credit account

FICO Auto 5

EQ

706

-5

701

 

Short credit history, Short revolving history, Too many accounts with balances, Recently opened new credit account

FICO Bankcard 2

EX

732

-6

726

 

Short credit history, Short revolving history, Too many accounts with balances, Recently opened too many new credit accounts

FICO Bankcard 4

TU

685

-4

681

 

Short credit history, Short revolving credit history, Few accounts in good standing, Recently opened new credit account

FICO Bankcard 5

EQ

705

-7

698

 

Change: Short credit history, Short revolving history, Short installment credit history, +Too many accounts with balances, -(Too few or too many revolving accounts)

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 40 of 95
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