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Under 30% credit util=higher scores: True!!!

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Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!

BTW, what is the B/L on the Hyundai?
Message 61 of 83
donkort
Valued Contributor

Re: Under 30% credit util=higher scores: True!!!

Thank you for your insights.

 

Though I'm feeling a slight urge to get an Amex, I realize that I could do without.  

 

I know this doesn't make sense----but I sense that the credit card companies still think of me as a risky consumer because of my recent history.  

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 62 of 83
donkort
Valued Contributor

Re: Under 30% credit util=higher scores: True!!!

Negative reason code for Experian:

 

"The remaining balance on your mortgage or non-mortgage installment loans is too high."

 

There are no negative reason codes for Equifax.

 

I'm not sure what "B/L" means.  The lease is slated to end on 2/28/2021.  I had a 640 auto score when I got this lease, thus inflating the monthly payment.  

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 63 of 83
Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!

B/L is balance of the loan.

Message 64 of 83
donkort
Valued Contributor

Re: Under 30% credit util=higher scores: True!!!

It's $5,519.

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 65 of 83
Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!

Actually it’s the balance over the original loan amount.

Without knowing the original loan amount it’s impossible to figure percentage paid off.
Message 66 of 83
Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!


@donkort wrote:

Thank you for your insights.

 

Though I'm feeling a slight urge to get an Amex, I realize that I could do without.  

 

I know this doesn't make sense----but I sense that the credit card companies still think of me as a risky consumer because of my recent history.  


What recent history?


And yes the negative reason code will stay there until you go under 9% B/L. I'm surprised you don't have it at the other bureaus. But admittedly version 8 negative codes suck.

Message 67 of 83
donkort
Valued Contributor

Re: Under 30% credit util=higher scores: True!!!

From 2007 to early 2020, I had at least 50% overall utlization on my cards.  My scores were in the low 700s (except for TransUnion, where they were high 600s) from 2007-2009.  Then, from late 2009 to January, 2020, I had 660-680 FICOs for the vast majority of that time.  I had about a 615 TransUnion score from 2/2013 from a 30-day late.   But that score recovered pretty rapidly, back to the 660s again.

 

I only paid the minimum payment on cards at that time, barely keeping myself afloat.

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 68 of 83
Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!

They are looking at your situation now and in the past seven years via your credit report not before then so don’t worry about it.

Now a particular lender may have you on a blacklist you know, for anything that happened particularly with them, but other than that I don’t think you should have to worry about anything just keep rebuilding and doing what you’re doing.

They also realize people mature and situations change.
Message 69 of 83
Anonymous
Not applicable

Re: Under 30% credit util=higher scores: True!!!

You still never gave the second half of the B/L. Trying to determine your installment utilization. Just the one loan?
Message 70 of 83
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