cancel
Showing results for 
Search instead for 
Did you mean: 

Utilization Intervals, Brackets, etc.

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Contributor

Re: Utilization Intervals, Brackets, etc.


@BrutalBodyShots wrote:

@CassieCard wrote:

I only have an Experian update this time, moving from 1 to 2 accounts with balances, which is 100% of accounts in my case.

 

There was no drop in FICO 8 score!


That's actually expected in most cases.  See my graphic below where going from 1 to all of my revolvers with a reported balance resulted in no impact at all to my EX FICO 8 scores.  The only time I ever saw any penalty was when all revolvers reported a 0 balance, thus leaving just my 1 (mortgage) installment account with a non-zero balance.

I'm still nervous about the changes at EQ/TU because I had a set of posts bookmarked that mention point losses from too many accounts with balances. Yours was one of them! I'm happy with this EX update, but not doing the happy dance yet.

 

@BrutalBodyShots wrote: "I've got a data point of 15 points lost on TU in going from AZEO to all accounts with balances. It actually may have been greater than 15 due to top end buffer; my actual score dropped from 850 to 835. On EQ I lost 11 points for the exact same experiment and on EX lost 0. Evidently EX is bulletproof when it comes to number of accounts with balances? It is for me, anyway."

 

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 11 of 13
Super Contributor

Re: Utilization Intervals, Brackets, etc.

Hi TT.  Sorry it has taken me a while to respond.

 

Glad you found the drop in EQ FICO 04 of value (aka "a hidden gem"!).  You ask if I have any similar data for the other mortgage models.

 

Unfortunately, no.  I only saw the EQ FICO 04 info because I applied for my first card at Capital One and saw (with mild surprise) that they gave me EQ FICO 04 (759) as the basis for their approval.  It jumped out at me because I knew my FICO 8 scores were in the 840s. 

Message 12 of 13
Established Contributor

Re: Utilization Intervals, Brackets, etc.


@CassieCard wrote:

I'm still nervous about the changes at EQ/TU because I had a set of posts bookmarked that mention point losses from too many accounts with balances. Yours was one of them! I'm happy with this EX update, but not doing the happy dance yet.

Equifax Fico 8 only went down 3 points, from 684 to 681, moving from 1 to both accounts with balances. That's from an Experian CreditWorks 3B report - I'm not using the monthly myFICO 3B report until Transunion gets the final statement balance update.  (TU score hasn't changed.)

 

My statement closing dates this month are 2/2 and 2/5, but I got this myFICO alert on 2/1 that TU went up +7 points. I wonder if TU likes AAoA moving from 5 to 6 months?

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 10. Just think of EQ, TU, and EX as Cylon Basestars.

Message 13 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.