2K CLI + 1 more CC with Balance: FICO down 6 Points

[ficonovice]

My Experian score went down 6 points as a result of the following changes:

CLI = 2K

WaMu Card reporting a $4.00 balance. Previously 0 balance. (I HATE WAMU)....

Accounts with balances went up to 4 from 3 (out of 11 total accounts)

Not complaining, just didn't expect a drop...

[Anonymous]

In accounts with balances did you include any mortgage, auto loan or other installment loan? Those count also.

[ficonovice]

Yes, I included everything:

2 CC with small balances

1 Revolving LOC--1K balance/8K available

1 Car Loan

I'll check next month to see what happens when my WaMu card once again reports a 0 balance.

[Anonymous]

this 4 out of 11 OPEN non- mortgage accounts-

[ficonovice]

Yes. I don't have a mortgage currently but was pre-approved last month and am shopping around for the right home. 

My scores seem to max out when I only have 1 cc reporting a balance. Both my EX and EQ have skyrocketed in the last 2-3 months after paying off almost everything..

[Anonymous]

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ficonovice wrote:

Yes. I don't have a mortgage currently but was pre-approved last month and am shopping around for the right home. 

My scores seem to max out when I only have 1 cc reporting a balance. Both my EX and EQ have skyrocketed in the last 2-3 months after paying off almost everything..

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I believe Timothy is asking whether all of those 11 accounts are open, or are some of them closed?

Message Edited by cheddar on 03-10-2008 10:33 PM

[ficonovice]

Sorry. Yes, 11 open accounts, 4 with balances.

Next month it will return to 3 accounts with balances and I trust I'll regain the few lost points.

Also will be asking BOA for a CLI in a few days. 2 months ago they gave me a nice increase via website request...

Message Edited by ficonovice on 03-10-2008 08:13 PM

[Anonymous]

Wow - EX is being picky in your bucket-

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ficonovice wrote:

Sorry. Yes, 11 open accounts, 4 with balances.

Next month it will return to 3 accounts with balances and I trust I'll regain the few lost points.

Also will be asking BOA for a CLI in a few days. 2 months ago they gave me a nice increase via website request...

Message Edited by ficonovice on 03-10-2008 08:13 PM

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[Anonymous]

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ficonovice wrote:

Sorry. Yes, 11 open revolving accounts, 4 with balances.

Next month it will return to 3 accounts with balances and I trust I'll regain the few lost points.

Also will be asking BOA for a CLI in a few days. 2 months ago they gave me a nice increase via website request...

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All I can say is that the "fewer than half of accounts with balances" that you hear about is a rule of thumb.  In reality, the right number of accounts with balances depends on your bucket.

Be glad you know exactly what that number is for your particular report.  A lot of us are still experimenting from month to month to see which actions we get rewarded for and which actions slap us upside the head.

[Anonymous]

hey fico, how often do you go to the boa well? i've only been w/them about 40 days and would love some tips.