What is considered “Very Good” Amount of Credit

[pi-r-squared]

When my Util % dropped from 33% to 29%, it went from "Fair" to "Good."  At what % will it turn to "Very Good" ?

[Jnbmom]

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@pi-r-squared wrote:

When my Util % dropped from 33% to 29%, it went from "Fair" to "Good."  At what % will it turn to "Very Good" ?

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Under 9%.

[Zoostation1]

Is this for just FICO 8 or is it also valid for other FICO models and sub variants? Anecdotally from my own experience FICO 9 gave me a 7pt bump on EX and a 3pt bump on TU with my AZEO card at 1.95% vs 2.3%, while FICO 10 gave me a 2pt bump on EX and a 7pt bump on TU.  10T is a whole different ballgame IMO but that's another story for another day.

[Jnbmom]

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@Zoostation1 wrote:

Is this for just FICO 8 or is it also valid for other FICO models and sub variants? Anecdotally from my own experience FICO 9 gave me a 7pt bump on EX and a 3pt bump on TU with my AZEO card at 1.95% vs 2.3%, while FICO 10 gave me a 2pt bump on EX and a 7pt bump on TU.  10T is a whole different ballgame IMO but that's another story for another day.

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I am referring to their total utilization going down to under 9%. Nothing to do with AZEO 

[FireMedic1]

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@Zoostation1 wrote:

Is this for just FICO 8 or is it also valid for other FICO models and sub variants? Anecdotally from my own experience FICO 9 gave me a 7pt bump on EX and a 3pt bump on TU with my AZEO card at 1.95% vs 2.3%, while FICO 10 gave me a 2pt bump on EX and a 7pt bump on TU.  10T is a whole different ballgame IMO but that's another story for another day.

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For that <1% drop in util. I believe it may have been 1 of the aging factors that gave a boost. Maybe you passed 1 month on a certain aging effect, or a loan was paid down a few dollars. I got 1 pt on EX when my last payment dropped my balance by $256. Hard to pinpoint sometimes.

[Shooting-For-800]

89

69

49

29

9

[Zoostation1]

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@FireMedic1 wrote:

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For that <1% drop in util. I believe it may have been 1 of the aging factors that gave a boost. Maybe you passed 1 month on a certain aging effect, or a loan was paid down a few dollars. I got 1 pt on EX when my last payment dropped my balance by $256. Hard to pinpoint sometimes.

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Very hard I'm finding!  I don't have a loan reporting so aging metric would be more likely, though none of my accounts have hit 1yr old just yet.

[Revelate]

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@Zoostation1 wrote:

Is this for just FICO 8 or is it also valid for other FICO models and sub variants? Anecdotally from my own experience FICO 9 gave me a 7pt bump on EX and a 3pt bump on TU with my AZEO card at 1.95% vs 2.3%, while FICO 10 gave me a 2pt bump on EX and a 7pt bump on TU.  10T is a whole different ballgame IMO but that's another story for another day.

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Aggregate at 9% I think is pretty universal.

Individual is very much YMMV; as others said, I doubt a single tradeline at 1.95 vs 2.3% made any difference to the algorithm FWIW.  Some people swear by it, but I did a LOT of testing and never found any variation like that.

FICO 10T though is a different beast than prior ones to your point, never had access to any FICO 10 scores until recently.

[FishingGuy]

 I agree with everyone that you want to get it to under 9% / 8.9% on the total aggregate of all cards.  But i would also watch each individual card and try to keep that down as well...... I believe if you have a small line on a card, lets say $ 1,000, nd you owe only $300... that 30% on that one individual card ....will also effect your score negatively  ( I believe ).... I watch the reporting balance on both the individual cards as well as the total percentage on all cards.

[FireMedic1]

Here ya go. Last statement had some util due to preparation for the 2 hurricanes that blew over.

Under 9% is very good.