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The Truth about Credit Card Utilization

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New Contributor

Re: The Truth about Credit Card Utilization

@Birdman7 
Yes, new revolver In August (NFCU Platinum) 2nd statement will be Oct 5, should report then at 2 or 3months age.

 

I did see the new descriptor but was unsure on the threshold. I am mature. AOOra 6yr10m.



AoOA- 6.8 - AAoA - 4.5 - Clean Profile - 40% UTI - 17k/41k Limits

Message 181 of 199
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Super Contributor

Re: The Truth about Credit Card Utilization


@mickvain wrote:

@Birdman7 
Yes, new revolver In August (NFCU Platinum) 2nd statement will be Oct 5, should report then at 2 or 3months age.

 

I did see the new descriptor but was unsure on the threshold. I am mature. AOOra 6yr10m.


@mickvain You are mature! I would expect somewhere around 12-15 points for the scorecard reassignment considering ages, but each profile is different, so it's hard to speculate. 10-20 points, typically, but since you're thick and mature, you'll be in the lower half, I believe. Please report back and let us know!

 

@mickvain Edit: The penalty could also be offset by AoYA 3 months if that reports at 3 months of age.

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 182 of 199
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New Contributor

Re: The Truth about Credit Card Utilization

@Birdman7 

NFCU reported early on 9/25 for me and others. This added the new account at 2month age with 2% Ind UTI. -9 points on EX.  Dropped agg UTI from 56% to 51% so no threshold was crossed. It will be nice in the next couple days when Cap1 reports going from 84% to 47%, bringing aggregate to 41%. 
After Oct 7 I should be able to see if there is a change from reporting less than 50% of revolving accounts with balances. There should be less than 1% aggregate UTI change at that point.



AoOA- 6.8 - AAoA - 4.5 - Clean Profile - 40% UTI - 17k/41k Limits

Message 183 of 199
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Super Contributor

Re: The Truth about Credit Card Utilization


@mickvain wrote:

@Birdman7 

NFCU reported early on 9/25 for me and others. This added the new account at 2month age with 2% Ind UTI. -9 points on EX.  Dropped agg UTI from 56% to 51% so no threshold was crossed. It will be nice in the next couple days when Cap1 reports going from 84% to 47%, bringing aggregate to 41%. 
After Oct 7 I should be able to see if there is a change from reporting less than 50% of revolving accounts with balances. There should be less than 1% aggregate UTI change at that point.


@mickvain Cool! And yes you should see a change at TransUnion & Equifax version 8 with less than 50% reporting a balance, I believe. 

How many revolvers with a balance did you have before that reported? Because that metric also changed by adding a revolver. You might see a couple points on the first when it turns 3 months.

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 184 of 199
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New Contributor

Re: The Truth about Credit Card Utilization

@Birdman7 

Prior to that have 8/10 showing balance. 3 of those are trailing interest at less than 1% UTI that should be gone after statements cut in the next couple of days. With the NFCU I will have 11 revolvers total, and only 5/11 with balances after that statements cuts on the 5th. 



AoOA- 6.8 - AAoA - 4.5 - Clean Profile - 40% UTI - 17k/41k Limits

Message 185 of 199
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Super Contributor

Re: The Truth about Credit Card Utilization

@mickvain OK so the change in percentage of revolvers probably made no difference. 👍
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 186 of 199
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New Contributor

Re: The Truth about Credit Card Utilization

Aggregate uti is currently 41%. Had one revolver cross from 67% UTI to 28% UTI with not change in aggregate. +7 points on EX Fico 8 to 704. No change in any of the other EX models. However I finally broke 741 on EX2 sometime this week!



AoOA- 6.8 - AAoA - 4.5 - Clean Profile - 40% UTI - 17k/41k Limits

Message 187 of 199
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Super Contributor

Re: The Truth about Credit Card Utilization


@mickvain wrote:

Aggregate uti is currently 41%. Had one revolver cross from 67% UTI to 28% UTI with not change in aggregate. +7 points on EX Fico 8 to 704. No change in any of the other EX models. However I finally broke 741 on EX2 sometime this week!


@mickvain but you still got the capital one at what 4x%?

 

9 points is pretty low for that scorecard change you didn't have any revolvers under a year when that hit?

 

congratulations on EX2!

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 188 of 199
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New Contributor

Re: The Truth about Credit Card Utilization

@Birdman7 

The new revolver reported early with the NFCU push on the 23rd. Score dropped 9 points from that, assuming that was the score card change.  Cap 1 reported on the 27 to 47% 5 point gain. No score change on the 1st, the new accounts ages to 2 months.



AoOA- 6.8 - AAoA - 4.5 - Clean Profile - 40% UTI - 17k/41k Limits

Message 189 of 199
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Super Contributor

Re: The Truth about Credit Card Utilization


@mickvain wrote:

@Birdman7 

The new revolver reported early with the NFCU push on the 23rd. Score dropped 9 points from that, assuming that was the score card change.  Cap 1 reported on the 27 to 47% 5 point gain. No score change on the 1st, the new accounts ages to 2 months.


@mickvain right, but I mean before the NFCU card reported, you did not have any revolver on your report less than 12 months of age? If that's correct then, yeah the 9 points was the scorecard change, just a little lower than I expected.

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 190 of 199
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