Jump to content

Sign in to follow this  
hegemony

MYFICO ALERT!!! (The balance on one of your accounts has decreased by $22790)

Recommended Posts


8 hours ago, gdtobefree said:

Just 5 pts? WTH?  

The student asks the teacher, Hedge, what's your UTL? Lol lol 

on that card is was about 23% and overall it was probably about 3.5 percent for that cycle (PIF)

Share this post


Link to post
Share on other sites

Good chance the impact on your FICO 4 mortgage score was more significant. 

 

I love FICO 8 because given a clean history, it barely hiccups over 100% tradeline util, so long as overall util remains under 5% (yeah ... I actually tested this in Jan, with a $20k bal on a $20k card).

Share this post


Link to post
Share on other sites
39 minutes ago, hdporter said:

Good chance the impact on your FICO 4 mortgage score was more significant. 

 

I love FICO 8 because given a clean history, it barely hiccups over 100% tradeline util, so long as overall util remains under 5% (yeah ... I actually tested this in Jan, with a $20k bal on a $20k card).

That hasn't been my experience and I also have a clean report. I did a specific experiment on individual card util and testing the NSPL of siggies about 3 years ago, pulling my full FICO panoply of scores.

 

I ran my Chase card way (>CL+10k) up*. Not the same as only maxing out a card but keeping overall util low. All FICO scores dropped between 60 to 100+ points. However, the FICO 8 and mortgage FICOs dropped almost identically between 60 and 70 points.

 

However, my overall util went up from 5-10% to around 50% while my Chase card balance zoomed 10k over the CL

 

My main interest was testing NSPL. but there was no significant difference in the way the different FICOs responded. Except bankcard scores dropped the most. The largest drop was TU FICO Bankcard 9 which went down bigly to 689.

 

*This was also when I discovered Chase's NPSL terms no longer required paying down to the CL on the next due date. Rather, they just use the same formula for minimum payment they use for any balance. No fees ore penalties or special payment request.

 

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Today's Birthdays

  • Member Statistics

    • Total Members
      176,060
    • Most Online
      1,528

    Newest Member
    Cheyenne
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines