03-19-2014 01:34 PM
Just a little heads up after some experimenting the past couple of months. It appears my myfico EQ is maxed out at 769 for right now. I am currently at about 5% UTL.
Last month I let three cards report, one with $75, one with $125 and another with $3500.
My score was 759 with three cc's reporting. A couple of days ago the $125 dropped off when I got a requested mid cycle reporting and my score went up to 766. The $75 dropped off yesterday or so and my score went up another 3 points to the 769.
So, a 10 point drop for having 3 cards report, 7 for the 3rd one, 3 points for the 2nd one. I know from a previous experiment that I would have a 7 point drop from having 0 cards report a balance.
Now the final straws in the experiment, the $3500 I have on a 0 interest promo will show a $500 decrease after the statement cuts tomorrow, and it will be my only card reporting. Although my UTL % will not change I'm interested to see if a reduction in a reported balance will do anything for the score. My new 15K CSP TL will report in about 10 days, again, interested to see if there is a change as it won't effectively change my UTL, 5% to 4%, but will show a new TL.
End of experiement but it has been interesting to see the manipulated score changes. BTW, two years ago this month I was 649TU with a mortgage and one secured cc.
03-19-2014 02:46 PM
03-19-2014 06:18 PM - edited 03-19-2014 06:22 PM
Interesting..I just lost another 10 points for 1 card more with a balance of 4,95$ yesterday...lol.. My experiment will go towards 1 card in May and curious if I can get the 802 back
Yep it is interesting how little things affect your score even with over $100K of available credit. A couple of months ago, you may recall, I had all cards report a zero balance and I lost 7 points, stopped and bought a six pack on the way home with a card that reported a couple days later and gained the 7 points back....$9 with a total cl at the time of $75K got my 7 points back.....if only I would have known in my don't give a crap days These percentages and reporting cards really work, you gotta trust the knowledge relayed on this board.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.