@CorpCrMgr1 wrote:@SouthJamaica I wish there was another difference. I have gone over my Experience report twice. Later today I will have a friend look at my reports.
My first thought when I was reading the Exp notification was that Cap1 lowered my CL on either or both cards beyond my CL transfer. Neither card is used a lot. After digesting all of this I wonder what nobody has mentioned; why didn't the increase and decrease simultaneously happen?
For the last question, that would be due to different reporting dates. If every utilization metric is exactly the same between the two cards like both had a $0 balance before and after, or you had $0 on a $2500 card (0%) and $25 on another $2500 card (1%) and now have $0 on a $500 card (0%) and $45 on a $4500 card (1%) reporting, the change in limits has nothing at all to do with any FICO scoring change. I would look more toward other factors like all zero penalties, raw number of cards or percentage of cards currently reporting a balance, closed accounts falling off of your report, and/or credit score rebucketing having coincidental timing. (For the latter, remember that there are many different buckets of risk assessment and one FICO 08 Experian score of 800 is not necessarily being factored the same as another.)
@CorpCrMgr1 wrote:@SouthJamaica I wish there was another difference. I have gone over my Experience report twice. Later today I will have a friend look at my reports.
My first thought when I was reading the Exp notification was that Cap1 lowered my CL on either or both cards beyond my CL transfer. Neither card is used a lot. After digesting all of this I wonder what nobody has mentioned; why didn't the increase and decrease simultaneously happen?
They don't simultaneously report unless, by coincidence, they each have the exact same statement date.
@SouthJamaica wrote:They don't simultaneously report unless, by coincidence, they each have the exact same statement date.
I have my statement dates set up to be the same for all card accounts with the same lender. I just find it to be convenient to know they are all going to cut at the same time. I never considered the possible advantage to credit limit reallocations reporting simultaneously. Thanks for pointing this out!
@CorpCrMgr1 wrote:@K-in-Boston while I PIF every week, I never had the AZ. There are always some monthly fee being charged. I use my cards virtually everyday.
I did have a friend verify there are no differences outside of a CL drop now reporting. No cards went away. My usage is never more than 2%, usually under 1%. My total CL is just over $225K. My lunch, weekly fuel, going out, weekly groceries, monthly utilities never total over $4K at one time. I'm paying about $1K a week for my living costs. There were three CC with a balance out of 20 when I was notified. Now it's five out of 20. I do not have a mortgage or student loan. I have a car loan going on four out of the five years. No CC renewed in the last couple of months. No AU either way.
I've seen a lot of posts of CS not making sense.
Again, a few weeks ago MyFICO score dropped four points and then went immediately back up. The reason was I owed a $190 to Chase and then it was paid. No, I did not owe that amount to Chase or any other CC. Nor did I make a payment of $190 to Chase or any other card.
Number of accounts with balances is a FICO scoring metric. You just listed a scorable change. What's interesting about that particular metric (from what I gather) is that it is profile dependent. The two cards in question may not have had a balance, but overall the # of accounts with balances may have increased (or decreased) between the two most recent notifications for score reporting. Notifications aren't always same day as well. For the same scorable change, I've gotten scoring notifications up to 4 days apart depending on which company is notifiying me. And those dates all reflect the date of the notification, not the date of the scorable change.
@CorpCrMgr1 wrote:@Aeon you are stating my owing under 1% on three cards out of a TCL of $225K+ on 20 cards lowered my CS? Then the percentage for score depreciation is 0.1% and not the 8.8%, or 9%, or 10% that I see others posting? Or is it owing on 15% of my cards? The three cards in question are all over $10K in individual CL.
Yes, that is why I mentioned that unless the exact scenario I laid out in post 12 happened, there could have been a change. Number of cards reporting a balance has two metrics in FICO scoring, one is raw number of cards reporting a balance and one is for 50% or more of cards reporting a balance. If you had 10 cards with $20,000 credit limits and 6 of them reported a $1 balance, you would be well below 1% utilization and therefore not taking a hit for raw utilization, but you would be receiving a penalty for raw number of cards reporting a balance and a penalty for more than 50% of cards reporting a balance. That $6 reporting could cost some profiles 20+ points. Number of cards reporting a balance is usually a pretty minor thing, but that is why the whole AZEO thing is talked about if every single point might count for a major loan.