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TU fluctuates 20 pts

FICOhatesme

By FICOhatesme,
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FICOhatesme

FICOhatesme

Posted
Posted (edited)

i have an issue with my Tu. I get it every month via Discover.

 

Does anyone else have an issue with wild fluctuations month to month? Im going to want a car soon. Id rather walk in with a "good" credit score rather than a "fair" one.

 

I have a friend who says his is the same every month. He has much better credit, I dont know if that makes a difference.

 

Lets see. I use all my cards at least every other month. I pay off balances within two weeks most of the time. I do use one card much more than the others because it has a lower interest rate. My utilization rate has been 10% or less all year.

 

Im kind of stumped and aggravated. *shrug*

Edited by FICOhatesme
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direct

direct

Posted
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Something is strange. I just closed a $300 capital one toy card that they refused to raise the credit line. This $300 doesn't make any significant difference in my available credit lines. Today it is reporting "closed per consumer's request" As a result, my TU "vantage score" dropped over 60 points, however my FICO score (the one that counts) went up 17 points. The score that reports on Equifax didn't move and the score that reports on Experian dropped over 20 points. As long as FICO is up, I'm happy but there is no rhyme or reason why the crazy fluctuations.

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FICOhatesme

FICOhatesme

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Does your utilization change drastically? That can change your score. But as stated they wibcrease a few ll probably use an auto enhanced score so it will be different than the discover score

My utilization is more or less tge same from month to month. There may be a $100-$300 difference. I have about 10k credit line in all. I got a credit line Iine increase a few months back.

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david_weaver

david_weaver

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A few hundred in utilization should not cause that big of a swing, but maybe? If it is the difference between carrying near-perfect utilization (say $2) and carrying 2%, but I don't know if it would be 20 points?

 

And paying within two weeks does not mean you are hitting the right payoff times. If your statement closes tomorrow, and you charge $500 that you pay off in two days, you are hit with $500 reporting and not zero. So are you sure you are paying before closing dates and not having a higher utilization report than you think?

 

And Direct, the Vantage and other scores fluctuated so wildly because they don't mean anything. Even when my credit was at rock bottom, FICOs in the 500's, CreditKarma showed my Vantage score in the 670's-680's. FICOs are what matter, but as CV noted, even those may be quite different that the version a potential creditor will use.

Edited by david_weaver
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FICOhatesme

FICOhatesme

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I guess I would have to back and do the math to know my credit utilization for sure. I said two weeks, but usually bills get paid within a few days or a week.

 

The only other thing different is that i owe a lot less to sallie mae/nav

 

Im using about $500/mo for discover

$50 every other month for citi

$100 a month for comenity but ive been using it a lot less lately , maybe $50 every other month for the past 4 or 5 mos

$30 or less a mo capital one

=$730

 

Total cl=9050

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david_weaver

david_weaver

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That is helpful, but you need to know your statement closing dates and make sure you pay before the balances report. You could charge $9,000 per month and still show 0% utilization if you pay them all before the statements cut. Or, you could charge as little as $730 as you reported, and if you pay them all after the statements cut you would show 8% utilization.

 

With a relatively thin file, and some baddies, you are doing pretty well to have your scores around 700. But I would absolutely think that the difference between 0% utilization and 8% utilization could be 20 points.

 

Also, you have to be careful about individual card utilization if some of the cards have low limits. If your total credit available is $9,050 and you carry $730 in balances, you are at 8% as I noted. And that is fine if each card is at 8%. That would be like having (6) $1500 limit cards each having an approximately $122 balance. But if you have all your other cards paid off in full, and you have one card with a $750 limit and a $730 balance, you are going to get hammered for way more than 20 points.

 

Does that make sense?

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FICOhatesme

FICOhatesme

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Ok, so I got my tu score from discover today. My score is

 

724

 

Yup. It shot up like 30 pts.

 

 

Also, none of my cards are even close to being maxed out. I having been relatively small balances on all my cards when I do keep a balance.

 

For example, on my discover card my balance was

165/4500.

 

 

I did just pay off one of my 3 loans under Navient/Sallie Mae.

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FICOhatesme

FICOhatesme

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I thought it was better to have small balanxes on several cards rather than a large balance on a single card. I dont use all my cards all the time. When I do use my cards, they are paid off quickly. Most of the time I dont have a balance. In fact, much of the time I have a negative balance.

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FICOhatesme

FICOhatesme

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Ok,I looked at my statements.Here goes...

 

October November

--------------------------------------------------------------------------------------------

 

Comenity 0/2000 -3.42/2000

 

 

Citi -0.57/2000 -50/2000

 

 

Capital 1 56.04/1750 7.14/1750

 

 

Discover 160.05/4500 164.16/4500

 

---------------------------------------------------------------------------------------------

215.52/10250 117.88/10250

2.1% 1.15%

 

 

 

Navient $685.00 $0.00 (I had a small balance but Nav waived it)

 

 

 

 

 

 

 

 

 

*Negative signs are correct. I overpaid or paid in advance. i'm that serious about my balance lol

Edited by FICOhatesme
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