@Anonymous wrote:Does anyone know what the threshold of "heavy use of avaliable revolving credit" is? I am currently showing 27%. So I am guessing one needs to be below 10% util across all revolving balances to have this FICO status code lifted?
There is an explicit breakpoint at 10% (read as <9% to prevent FICO from rounding to 10 potentially) at least on Beacon 5.0 and likely on FICO 8 as well for aggregate utilization; if it works like installment utilization on FICO 8 then yes, you may need to be in the best category for it to go away entirely.
I don't know for certain on the reason code though as I've always had more than enough problems on my file that I wouldn't get a more minor reason code like that; I did get the installment utilization one though admittedly but the last time my aggregate utilization was above 10% was a while ago. Unless I get a windfall with an absurdly large tax payment, or if I have non-trivial financial stress in my life not sure I'm going to be able to swing 10% again to test aggregate.
@Anonymous wrote:True. If you read some of the remarks they tell you when your score goes up, they just use other reason's since they have a minimal impact on your score at that point. That is unless you're going way up there!
Which reason codes have you seen that on? Other than my obvious ones (You have a PR on your report) for the utilization ones I've never seen where I've been told a breakpoint unless we went and found it here. Admittedly some reason codes like my installment utilization (paraphrasing their ratio comment) is too high was on my report until I got under the final breakpoint but I've never seen where it suggests anything explicitly in the actual FICO reason codes.
All 3rd party presentation has to be taken with a grain of salt as it's not representative of the algorithm necessarily.... and if it is, it's luck rather than skill.
@surferchris wrote:
@Revelate wrote:
@Anonymous wrote:True. If you read some of the remarks they tell you when your score goes up, they just use other reason's since they have a minimal impact on your score at that point. That is unless you're going way up there!
Which reason codes have you seen that on? Other than my obvious ones (You have a PR on your report) for the utilization ones I've never seen where I've been told a breakpoint unless we went and found it here. Admittedly some reason codes like my installment utilization (paraphrasing their ratio comment) is too high was on my report until I got under the final breakpoint but I've never seen where it suggests anything explicitly in the actual FICO reason codes.
All 3rd party presentation has to be taken with a grain of salt as it's not representative of the algorithm necessarily.... and if it is, it's luck rather than skill.
+1
Seems like this makes sense
@Anonymous wrote:
@Revelate wrote:
@Anonymous wrote:Does anyone know what the threshold of "heavy use of avaliable revolving credit" is? I am currently showing 27%. So I am guessing one needs to be below 10% util across all revolving balances to have this FICO status code lifted?
There is an explicit breakpoint at 10% (read as <9% to prevent FICO from rounding to 10 potentially) at least on Beacon 5.0 and likely on FICO 8 as well for aggregate utilization; if it works like installment utilization on FICO 8 then yes, you may need to be in the best category for it to go away entirely.
I don't know for certain on the reason code though as I've always had more than enough problems on my file that I wouldn't get a more minor reason code like that; I did get the installment utilization one though admittedly but the last time my aggregate utilization was above 10% was a while ago. Unless I get a windfall with an absurdly large tax payment, or if I have non-trivial financial stress in my life not sure I'm going to be able to swing 10% again to test aggregate.
Thanks Revelate, this makes sense. I'll conclude that once I move to the next breakpoint of aggregate utilization, really what I think is the "Excellent" category of 0-9% util that this FICO status would go away. On Experian Credit Monitoring, I noticed that one of my 30 day lates aged to 9 months and that status has gone away.
Which status?
You recently missed a payment or had a derogatory indicator reported on your credit report.
? I'd love if that disappears after 9 months on my TU report haha, only a couple months to go for that. Actually I did notice something interesting, Bankcard scores list that problem at #2 on my report whereas the mainline FICO 8/9 ones have it at #3. I am getting some odd increases in TU lately which might be attributeable to the 30 day late aging but there's a bunch of stuff happening on my reports at the moment so I can't really say what's what there.
