84.9% utilization or 89.4% utilization is key??

NoMoneyNoHoney wrote: ↑Mon Apr 29, 2024 7:11 pm I read on myFico some people saying that "clear datapoints on this board that show going from 0% to 84.9% or higher on a single card can cost from 30-50 points on your Fico 8".... Is that true?? From the credit primer on creditrebels.net its saying that being above 89% on individual card is what is a huge loss in points on your credit report?? Can some please clear this up?? I have a balance transfer BofA card that I have a 0% offer for 21 months. I did get the card below 90% to around 88.5% but I was wondering if its that massive of a score loss being above 85%?? I've been using all my available money to pay down the high interest debt so I'd rather not spend it on this 0% card (cuz thats the whole point of a balance transfer) unless it would really help my credit. I'd have to pay another $1,500 to get below 84.9% utilization. Obviously if I could keep under 30% utilization I would but I'm just trying to survive right now. I still need to get another BTC so if the 84.5% is that big of difference from under 90% then I prob should do it.

Beefy wrote: ↑Tue Apr 30, 2024 12:12 pm

NoMoneyNoHoney wrote: ↑Mon Apr 29, 2024 7:11 pm I read on myFico some people saying that "clear datapoints on this board that show going from 0% to 84.9% or higher on a single card can cost from 30-50 points on your Fico 8".... Is that true?? From the credit primer on creditrebels.net its saying that being above 89% on individual card is what is a huge loss in points on your credit report?? Can some please clear this up?? I have a balance transfer BofA card that I have a 0% offer for 21 months. I did get the card below 90% to around 88.5% but I was wondering if its that massive of a score loss being above 85%?? I've been using all my available money to pay down the high interest debt so I'd rather not spend it on this 0% card (cuz thats the whole point of a balance transfer) unless it would really help my credit. I'd have to pay another $1,500 to get below 84.9% utilization. Obviously if I could keep under 30% utilization I would but I'm just trying to survive right now. I still need to get another BTC so if the 84.5% is that big of difference from under 90% then I prob should do it.

84.x to 90 plus won’t be huge but 0 to maxed is… In Jan I took a card from 0 to 96% on a BT offer and the highest loss was 54 points, a month later applying for a cli increased my limit by 50% and the uti went down to 63% I gained 24 points back meaning individually the 70 and 90% thresholds were worth about 10-14 points. Total UTI was not a factor my total UTI never went above 7%, but total amounts owed may have also been a few points. That was on a profile with no uti losses, you are already carrying balances meaning you are already seeing several of the penalties associated with the scoring loss I observed. Transfer your debt from as many high apr accounts to the zero apr deal. Even if you take a scoring hit so what finances before fico.

NoMoneyNoHoney wrote: ↑Tue Apr 30, 2024 6:00 pm

Beefy wrote: ↑Tue Apr 30, 2024 12:12 pm

NoMoneyNoHoney wrote: ↑Mon Apr 29, 2024 7:11 pm I read on myFico some people saying that "clear datapoints on this board that show going from 0% to 84.9% or higher on a single card can cost from 30-50 points on your Fico 8".... Is that true?? From the credit primer on creditrebels.net its saying that being above 89% on individual card is what is a huge loss in points on your credit report?? Can some please clear this up?? I have a balance transfer BofA card that I have a 0% offer for 21 months. I did get the card below 90% to around 88.5% but I was wondering if its that massive of a score loss being above 85%?? I've been using all my available money to pay down the high interest debt so I'd rather not spend it on this 0% card (cuz thats the whole point of a balance transfer) unless it would really help my credit. I'd have to pay another $1,500 to get below 84.9% utilization. Obviously if I could keep under 30% utilization I would but I'm just trying to survive right now. I still need to get another BTC so if the 84.5% is that big of difference from under 90% then I prob should do it.

84.x to 90 plus won’t be huge but 0 to maxed is… In Jan I took a card from 0 to 96% on a BT offer and the highest loss was 54 points, a month later applying for a cli increased my limit by 50% and the uti went down to 63% I gained 24 points back meaning individually the 70 and 90% thresholds were worth about 10-14 points. Total UTI was not a factor my total UTI never went above 7%, but total amounts owed may have also been a few points. That was on a profile with no uti losses, you are already carrying balances meaning you are already seeing several of the penalties associated with the scoring loss I observed. Transfer your debt from as many high apr accounts to the zero apr deal. Even if you take a scoring hit so what finances before fico.

Yes, of course, having debt under 0% is extremely helpful so I'm gonna keep as much of that as I can. My only reason for bringing it up is I'm getting close to applying for another 1-2 balance transfer cards. If going from 89% utilization to 84% utilization would bring me another 10-20 points then I prob would do it even though I'd rather put that money towards the higher interest debt. I got about 30K under 0% offeres right now but $16K is gonna be expiring in June...and my NFCU 0.99% offer just expired. SO I need at least 20k in new 0% BTC's credit...just trying to be strategic...thanks!!!

NoMoneyNoHoney wrote: ↑Mon Apr 29, 2024 7:11 pm I read on myFico some people saying that "clear datapoints on this board that show going from 0% to 84.9% or higher on a single card can cost from 30-50 points on your Fico 8"....

BrutalBodyShots wrote: ↑Wed May 01, 2024 2:13 am

NoMoneyNoHoney wrote: ↑Mon Apr 29, 2024 7:11 pm I read on myFico some people saying that "clear datapoints on this board that show going from 0% to 84.9% or higher on a single card can cost from 30-50 points on your Fico 8"....

Just from the single card utilization change? Not a chance. If you're crossing a couple of aggregate utilization thresholds in the process? Sure, it's possible.

BrutalBodyShots wrote: ↑Sat May 04, 2024 12:56 pm On what scorecard? Also the result isn't clean, as multiple thresholds related to raw dollars are being crossed as well. Unless you're talking a smaller limit card (say, $1500 or less) it's not just the variable of utilization changing.

BrutalBodyShots wrote: ↑Mon May 06, 2024 5:45 pm I've found 3 threshold points, in the ballpark of $2k, $5k and $10k. Trying to nail down exactly where they exist is nearly impossible, but those are generally where I've seen movement. My aggregate utilization is always in the 2%-4% range so for me it's not a variable, nor is highest individual utilization card. Also, I'm always at 100% AWB, so that never changes. The only thing that changes for me are raw dollars, so that's how I'm confident of threshold points in those general vicinities. Naturally I'm sure that this could vary from scorecard to scorecard.