Love how BS credit score is. Got my score up to 800 last month only to go on vacation so my credit utilization went up to 8% due to the increased spending and my score dropped 35 points because I didn’t immediately pay the balance after charging the purchases. I always pay my balance in full each month and have never missed a payment, how is 8% credit utilization determined to be that big of a risk that my score got immediately wrecked, I don’t understand

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Posting as :
works at
You are currently posting as works at

It'll jump back chill

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Utilization only affects the next month

A score of around 770, is no where near “wrecked”. Stop being so dramatic

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Well...just like the balance sheet, it's a snapshot at a specific point in time. Why do you care so much? Unless this ruins your mortgage timing or something. Once you pay off it'll immediately jump back the 35 points...if it were truly attributed to just the spending.

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After a certain point score no longer matters - you'd already qualify for best rates. It's like how the difference between 2300 and 2400 on SAT is absolutely meaningless. Also do keep in mind that mortgages companies and probably car loans have their own calculations for credit score.

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Welcome to the algorithm 🤖
Your understanding is immaterial.

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Lmao

What’s the ideal credit score?

This might be a dumb question but isn’t a credit score just a way for us to judge our own credit? Lenders have their own way of judging someone’s credit by looking at our credit history

I've worked on decisioning models. FICO score is definitely a large factor

8% on your overall utilization, or one card? If you have one card over 30% that will seriously ding it.

Also, I’m guessing you’re looking at a Vantage score. Those are not real credit scores. Pull an Experian FICO 8/9 to get your true score.

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