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3 years ago
Wed Feb 23, 2022 4:40 pm
SoonerSoldier33
Seasoned RebelTeam Cash Back
So, I accidentally conducted a utilization experiment this month, and I was a little surprised at the results! I think we all agree that the scoring effects of certain factors are minimized on a dirty scorecard, but I didn't think it would be this noticeable.
What happened: My CapOne Savor One statement closed a few days earlier than usual this month (February only has 28 days is my guess as to why). I did not pay the balance to $0 as usual before it closed, and it closed with a balance of $1030 vs a $2250 CL (46% individual utilization).
So, before the new balance reported, my utilization stats were as follows:
9 open accounts (8 revolvers and 1 installment) with 2 AWB (22% AWB).
Aggregate revolving utilization: $1885 reported balance of a $20950 TCL (9% utilization).
Utilization stats after the new balance reported:
9 open accounts (8 revolvers and 1 installment) with 3 AWB (33% AWB)
Aggregate revolving utilization: $2915 reported balance of a $20950 TCL (14% utilization)
The results?!?
No score loss on EQ8 or EX8, and a 1 point score loss on TU8! Now, I know I didn't smash through any crazy utilization thresholds here, but going from 9% (under 9.5%, so no round up) aggregate revolving to 14% crossed a known scoring threshold, and going from 0% to 46% individual utilization on that 1 card crosses several known scoring thresholds, yet almost no score loss occurred for me.
It's also worth exploring that TU specifically refers to the balance of this card as a 'bankcard' where the others do not. We already know TU handles bankcards a little differently, but it's interesting to see they were the only ones who penalized me at all for the utilization changes.
Anyway, I was expecting a bigger score loss when I realized this had happened, but there are the results. Thoughts?Click images to enlarge them.
FICO Metrics Junkie. Birdman's Padawan. Team Garden Party as of November 2023. Boomer Sooner!
- Tagline Team Cash Back
- Score data TU FICO 8: 641 EQ FICO 8: 616 EX FICO 8: 649
- Classic 8 Scorecard DIRTY/DELINQUENCY/RECENT
- Mortgage Scorecard DIRTY/DELINQUENCY
- AoOA 9 years 7 months
- AoORA 8 years 9 months
- Date of Last Inquiry and/or New Account Opening November 27th, 2023
- Garden Goal 24