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Urgent! Credit dropped around 90 point due to high utilization

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Moderator Emeritus

Re: Urgent! Credit dropped around 90 point due to high utilization


@Remedios wrote:
Discover and Cap One do it. Cant remember which one is $5.00 and which one is $7.00
You still have to pay it of course, but it doesnt get reported.
Chase will report $5.00, not sure if they will report below, never tried it with them.

I guess they've changed since I last played with them.

 

Chase at least used to report even $1, I'll run that test actually.




        
Message 11 of 14
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Community Leader
Senior Contributor

Re: Urgent! Credit dropped around 90 point due to high utilization

A balance of $5 is considered safe from being forgiven unless you happen to have a BOA Better Balance Rewards card. On that card, it's prudent to leave $10. If that card's balance is forgiven, you'll lose out on rewards dollars.

 

For the most part, these low balance thresholds are in the $2–3 range. There's a thread started by @BrutalBodyShots that lists a number of them. However, it's probably easiest to remember to leave at least $5 but not much more.

Message 12 of 14
Super Contributor

Re: Urgent! Credit dropped around 90 point due to high utilization

I am interested to know how a score of 575 FICO 8 is achieved with no derogatory items, only based on high utilization.  

 

It seems unlikely to me, based on my own experience with high utilization.  

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 13 of 14
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Established Contributor

Re: Urgent! Credit dropped around 90 point due to high utilization


@NRB525 wrote:

I am interested to know how a score of 575 FICO 8 is achieved with no derogatory items, only based on high utilization.  

 

It seems unlikely to me, based on my own experience with high utilization.  


I was curious about the same thing. When my scores were in the 500's it was because I had like 3 items in collections and a bunch of late payments. I don't see how a file with no derogotories or anything can generate a score so low. 

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 14 of 14
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