credit score

[Thingywingy]

Not sure if this is the right thread but...
I know that ideally it's best to pay down most of CC balance before the statement closes, in order to have a low credit utilization. Is credit utilization only reported at the close of the statement? or can it also be in some time in middle?

[CS91]

Not sure if this is the right thread but...
I know that ideally it's best to pay down most of CC balance before the statement closes, in order to have a low credit utilization. Is credit utilization only reported at the close of the statement? or can it also be in some time in middle?

Chase reports every time you pay off in full and when statement closes, other banks when statement closes.

[Thingywingy]

So Amex never reports in middle of statement?

[Mendelssohn]

So Amex never reports in middle of statement?

Nope.

Most issuers only report the statement date, but some report at other times.  For example, DCU reports the balance as of the last day of the month, not the statement balance.

[Marko Rubio]

I know someone who has an 850 EX 08 FICO that dropped exactly 0 points from an inquiry. FICO scores are not as sensitive to inquiries as FAKOs.

Ignore CK.

my fico did drop 21 points from 2 inquries

[PillanSmye]

Not sure if this is the right thread but...
I know that ideally it's best to pay down most of CC balance before the statement closes, in order to have a low credit utilization. Is credit utilization only reported at the close of the statement? or can it also be in some time in middle?

BofA is known to report mid-cycle if you have charges that are abnormally high for your account, if you get a CLI, if you PC etc.

[Mendelssohn]

my fico did drop 21 points from 2 inquries

Then you must have an extremely thin file.

[David Smith]

my amex fico updates today, does it make sense that from 2 inquiries=2 new accounts since the last time it updated it should drop 22 points? If yes how long should it take till it will be as before?

I have a clean report and a credit history of 3 years old and 7 personal primary cards on file, does it make sense? And now approximately how long should it take to get back? A few months a year?

Then you must have an extremely thin file.

[David Smith]

my fico did drop 21 points from 2 inquries

It was the new accounts more than the inquiries, Mendelssohn told you already.

[ya]

Why would my wife FICO score drop 14 points in 1 month. She does have a thin file. She has 2 CC in her name both were not used last month. And 1 AU which was used and paid.

The only thing i can think of is her student loan. She is still in school. SL are deferred. Would this affect it?

[David Smith]

Why would my wife FICO score drop 14 points in 1 month. She does have a thin file. She has 2 CC in her name both were not used last month. And 1 AU which was used and paid.

The only thing i can think of is her student loan. She is still in school. SL are deferred. Would this affect it?

Went from what to what?

[CS91]

The only thing i can think of is her student loan. She is still in school. SL are deferred. Would this affect it?

I would think that it would have a positive impact. Lengthens AAoA and accounts are in good standing. I have a few student loan accounts on my report and they definitely haven't hurt me (still in school too, so same situation as your wife - haven't been paying them).

[Marko Rubio]

from how many cc and how many years am I considered a thick file?

[Mendelssohn]

Why would my wife FICO score drop 14 points in 1 month. She does have a thin file. She has 2 CC in her name both were not used last month. And 1 AU which was used and paid.

The only thing i can think of is her student loan. She is still in school. SL are deferred. Would this affect it?

0% utilization reporting.

[David Smith]

0% utilization reporting.

The AU utilization wouldn't prevent that?

[Mendelssohn]

from how many cc and how many years am I considered a thick file?

That's subjective, but 7 cards is a thin file.

Thick can mean a lot of accounts or a more moderate number of really old accounts.

When your AAoA barely moves from a new account, you have a thick file.

[Mendelssohn]

The AU utilization wouldn't prevent that?

I'm assuming used and paid means before the statement closed.  If a balance reported, it could be a change in SL status (if that happened) or rebucketing. I'm hesitant to say rebucketing before knowing all the details.

[David Smith]

I'm assuming used and paid means before the statement closed.  If a balance reported, it could be a change in SL status (if that happened) or rebucketing. I'm hesitant to say rebucketing before knowing all the details.

That's why i asked changed from what to what. I figured you'd better be able to ascertain rebucketing with that info.

[Mendelssohn]

That's why i asked changed from what to what. I figured you'd better be able to ascertain rebucketing with that info.

If it went from repayment to deferred, that can drop FICOs.

[David Smith]

If it went from repayment to deferred, that can drop FICOs.

Why would that change over the course of the month if her status remained the same?