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# of CCs with a balance...

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bk510
Valued Contributor

Re: # of CCs with a balance...


@CreditDunce wrote:

For my profile, I haven't seen much difference in my FICO 08 scores when I let most of my cards report a balance.  EQ-04 does seem to be hurt.  I don't have enough DPs for the other FICO models.  Personally, I wouldn't worry about the number of cards reporting a balance unless you are house hunting.


I have been carrying balances on 8 of my cards all under 10% each for about 6 months and my FICO 08 seems to stay around 670ish hardly any changes at all.

 

i just joined NFCU and apped for Platinum Visa and now I'm worried that I'll take a big hit on TU-04 which is who they pulled. I undersatnd TU-04 is generally lower than FICO-08

 

My app status is pending.....

 photo QS visa_zps7zokw2wl.jpg photo QS visa_zps7zokw2wl.jpg photo Venture One_zpsigvttrlz.jpg photo Sony Visa_zpsxoradr1b.jpg photo USC Reward_zpslcvjfxmq.jpg photo Penfed Promise_zpsdg1y2dw2.png photo NasaFcu_zpswac3zwcu.jpg photo America_zpsuwx8rzdm.jpg photo LA-Kings-card_zpslbkyeqsz.png photo Barclay_zpslqv3i4tl.jpg photo BBVA_zpsqrhh7omh.jpg
 photo nfcu debit card_zpsprkh98jw.png photo nfcu visa siggy_zps0gjgyxje.png/ photo nfcu goReward card_zpsixhh1qcp.jpg photo sdfcu platinum card_zpspilihdiv.png  photo penfed reward cash_zpsyckxjc7y.png photo alliant visa_zpsaf4udfx0.jpg photo Citi Secured_zpsypzxi0jm.png photo fnbo platinum_zpsxfub6esb.png photo marvel-credit-card_zpsfkvc3ux5.png photo golden 1 CU_zpslhgxynjv.pngBurned AECitiChase
Message 11 of 37
CreditDunce
Valued Contributor

Re: # of CCs with a balance...


@bk510 wrote:

@CreditDunce wrote:

For my profile, I haven't seen much difference in my FICO 08 scores when I let most of my cards report a balance.  EQ-04 does seem to be hurt.  I don't have enough DPs for the other FICO models.  Personally, I wouldn't worry about the number of cards reporting a balance unless you are house hunting.


I have been carrying balances on 8 of my cards all under 10% each for about 6 months and my FICO 08 seems to stay around 670ish hardly any changes at all.

 

i just joined NFCU and apped for Platinum Visa and now I'm worried that I'll take a big hit on TU-04 which is who they pulled. I undersatnd TU-04 is generally lower than FICO-08

 

My app status is pending.....


Your FICO 04 scores can be higher or lower than your FICO 08 scores.   There isn't a general rule about one being higher.  They weigh different things differently. 

 

Last spring I had 15 revolvers.  I let between 2-10 cards report small balances.  My TU-08 score was remarkably stable at 800 over the time.  It did bump up for one pull, but it was during the times TU was having problems with INQ showing up.  My EX-08 score didn't seem to be affected by the number of TL's reporting a balance either.  However, I didn't have enough DP's to make any findings.  The score inched up 3 points every month or two from 803->806->806->809. 

 

I only have one monthly EQ-04 score.  The score averaged aroud 750's when I had over 50% of my accounts reporting a balance.  Near the end when I was getting ready for an app spree.  With only 4 accounts reporting a balance the score hit 778.  Then with 2 accounts reporting a balance it jumped to 816.  However, I passed some other milestones when that last score was reported.   I have read other threads saying TU-04 is not as sensitive to number of accounts reporting a balance, but I don't have any personal experience.  None the less, cutting down the number of cards with a balance (while not letting the util of the remaining card increase) would probably give you some points on TU-04.  The new account will probably not hurt your score much unless your AAoA drops under an integer boundary.

 

Good luck with your app.  NFCU doesn't seem to be that particular about high credit scores.   I am sure you will be approved.

Message 12 of 37
Creditplz
Valued Contributor

Re: # of CCs with a balance...

3, all small balances, NFCU 37.82/13,300, Discover 12/1000, BofA BBR 122/4000... I'm not trying to max my score or anything currently so I let it be
Message 13 of 37
peghede
Valued Contributor

Re: # of CCs with a balance...

@ sarge12.What about when you have 147 cards?

Message 14 of 37
sarge12
Senior Contributor

Re: # of CCs with a balance...


@peghede wrote:

@ sarge12.What about when you have 147 cards?


I would need no cards once I am committed, because if I have 147 cards....I've lost my mind. It is a pain keeping 15 active,...147...er...no, just no. Now I'm sure someone on these forums actually has 147, and would probably argue they needed every one of them, so to each his/her own, but it's not for me!!!

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 15 of 37
peghede
Valued Contributor

Re: # of CCs with a balance...

<<<------ 147 cc .and keep 145 active .insane.(will close 77 by end of year) or maybe not.

Message 16 of 37
sarge12
Senior Contributor

Re: # of CCs with a balance...


@peghede wrote:

<<<------ 147 cc .and keep 145 active .insane.(will close 77 by end of year) or maybe not.


I'm not sure it would be advisable to close 77 that quickly either....I'm glad I'll never have that problem. It gives me a headache to even consider this. I hope your post does not cause me nightmares.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 17 of 37
peghede
Valued Contributor

Re: # of CCs with a balance...

I had more, i close 17 (Syncrony ,R.I.P) all at once in august cuz of the lexus nexus poop, and fico went up by 2 on Tu and 30  32 on EXP and EQ.Since then i re added 6 comenity retail cards.All in one shoe box almost full of credit cards.some ppl just bs about having lots of cards and addicted to plastics... i actually have them.

Message 18 of 37
Vegas4Play
Valued Contributor

Re: # of CCs with a balance...

Is having that many cards beneficial to you? You state you keep 145 active so that is 145 payments a month minimum? Just seems like a biiiiiit much, even with all the offers and coupons of store cards. I personally don't think they outway the offers given on V, MC, Disc. Not to the extreme of having to make 145 monthly payments. I would personally consider triming down the heard, to a tune of 10 cards a month or every six weeks, if you choose to do so.

Fico 8's TU 756/ EQ 754/ EX 743- 8/2020// AAoA 5.7 years // Lines August 2020 = 619k Personal - Business 61k // Inquiries 6 TU - 0 Exp - 0 Eq.
Message 19 of 37
peghede
Valued Contributor

Re: # of CCs with a balance...

@ Vegas4Play.It's hard verry hard to keep all but two acctive , never late never over cl never cld.lowest apr 6.9 fixed  lots of them under 10 apr fixed, and highest 29.99. and i make allot of pmts monthly.allot.

 

edit; plus have two loans active 300 and 340 monthly. also few... mortgages (don't wanna give number there but more than 2).

how dat sounds to yall? still believe  to pif?lol

Message 20 of 37
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