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3 years ago
Fri Nov 12, 2021 3:28 pm
SoonerSoldier33
Seasoned RebelTeam Cash Back
So, I knew it was coming, and it came today...at least to one CRA (EX) so far. I had 2 open installment loans reporting to EX. A personal loan from Lending Club originally for $15K with just a $500 balance reporting (3% utilization), and my brand new truck loan with Affinity FCU for $26K (100% utilization), which made my aggregate installment utilization $26,500 of $41K for 64%. I should also mention I have an installment CO with an $8K balance reporting to EX that may or may not be factored into installment utilization, but @Birdman and I really don't think it is. It may be factored somewhere else in the 'amounts owed' metrics, but we really don't think it's factored into installment utilization. I paid off the Lending Club loan last month, and it reported today to EX as closed with a $0 balance and 'paid satisfactorily'. The result was an EX FICO 8 decrease from 654 to 630 (-24 pts). I knew I'd lose some points going from 64% to 100% installment utilization, but 24 points was more than I had hoped, especially losing 1 AWB and being on a dirty scorecard. Regardless, my EX FICO 8...once the pride of my CRA fleet...sits at a lowly 630 for now. Thank God I'm firmly in the garden for a while! LOL. I'll report more results when the loan is reported paid and closed with the other CRAs as well.
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