@Anonymous wrote:Thank you for all the wonderful information everyone! Thank you for being understanding as well. I've been using credit for 40+ yrs but I havent bothered to look into details like this. I am enjoying reading and educating myself on the important life matter that is your credit. Stupid that I waited this long to try and educate myself but I am learning.
So for the off cycle reporting, who would I speak to at Citi? I saw on the link to talk to execs but customer serv has to help I would think!
@Anonymous
1. Good luck to you with the vehicle. You probably did most of the things suggested so you should get a better rate... although I an not 100% sure which version of scores the the preapproval was from.
2. Welcome to the forums!
3. You definitely came to the right thread in this forum to be able read/learn a lot in a short amount of time
Cheers!
Thank you
@Anonymous wrote:I just looked at the 3 FICO 8 scores I have on experian's website that updated this morning. It shows that I am at
664: Experian
722: Equifax
654: Transunion
Which service do I believe? MYFICO or Experian?
Congrats!!! Those were pretty good increases on 2 of those bureaus... 👍😁 nice work, Transunion may just happen to be slow to update...
If yor are referring to the table in this link: https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-Utilization-Chart-Aggrega...
The score penalties reflected in the aggregate revolving optimization chart represent a cummulative total. So a 30 to 50 point penalty is total loss going to that utilization level from a zero point loss starting point. So, it would include the 5 to 20 point loss in that number.
If you are referring to the "tables" in this link: https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-Truth-about-Credit-Card-Utilization/...
The score penalties are reflecting the guestimated score drop associated with crossing into that utilization level from the one just below it. Total penalty from a zero point loss base case would be calculated by adding each incremental penalty together. [the individual and aggregate losses, when combined, over estimate total point loss. Fico looks at the highest individual utilization - NOT each card's utilization. There is no "multiple by the number of cards at this utilization level/divided by total # of cards". That's not how the Fico algorithm works.
Refer to the below link and paste.
P.S. In the above pasted example spreading out utilization across multiple cards won't change aggregate utilization but, it will lower point penalty associated with individual card utilization. HOWEVER, there are also scoring factors that looks at #/% of accounts with balances. Spreading out amount owed accross more cards can trigger this penalty. [Equifax penalizes harshly for too many cards with balances]