You lost me. ^
I only decided to start letting my cards report $0 a couple months ago... And now I am seeing score increases as each account reports.
Previously I was letting small sub $100 balances report because for some reason I was thinking that letting small balances report with each statement was a good thing. Now that I know that to be false I will be continuing to PIF BEFORE the statement cuts instead of after.
I only decided to start letting my cards report $0 a couple months ago... And now I am seeing score increases as each account reports.
Previously I was letting small sub $100 balances report because for some reason I was thinking that letting small balances report with each statement was a good thing. Now that I know that to be false I will be continuing to PIF BEFORE the statement cuts instead of after.
It's pretty ironic then that I get 3 pairs of Scorewatch notifications and all 3 were a balance from $100 or so down to $0 notification paired with a score increase notification.
I don't think it's an age issue because 2 of the accounts are like 9 months old... No 1st birthday yet.
Update:
My EQ score held steady at 687 with 6 of 9 cards reporting a $0 balance in June.
In July that dropped to 5 of 9 cards when my CapOne card reported a $19 AF balance.
I just got a Scorewatch notification that my reported balance is again $0... And a score increase from 687 to 694.
So yeah... The number of cards reporting a balance no matter how trivial does matter... Utilization went up from 19% to 26% total last month and score held... The CapOne card went back to a $0 balance and score increased.
@Kratos-TM wrote:I've seen a person with 6 cards all reporting a $1 balance. He paid off 5 of the cards to zero and his score skyrocketed as if he deleted a delinquent account or something, and it was only $5!. It's amazing how important "0" is over how much the balance is.,....
LG ran that test half a year ago or so, $1 on 8 cards and while I forget the numbers she gained on the order of 75-100 points by paying 7 of them to $0. It's a huge penalty, though she is a clean sheet and if I'd done it, it wouldn't have been nearly as painful.
@Kratos-TM wrote:I've seen a person with 6 cards all reporting a $1 balance. He paid off 5 of the cards to zero and his score skyrocketed as if he deleted a delinquent account or something, and it was only $5!. It's amazing how important "0" is over how much the balance is.,....
Absolutely.
I've got card 7 of 9 set to report a $0 balance this week.
After it reports I'll post back... hopefully the point gain trend continues!
@TRC_WA wrote:
@Kratos-TM wrote:I've seen a person with 6 cards all reporting a $1 balance. He paid off 5 of the cards to zero and his score skyrocketed as if he deleted a delinquent account or something, and it was only $5!. It's amazing how important "0" is over how much the balance is.,....
Absolutely.
I've got card 7 of 9 set to report a $0 balance this week.
After it reports I'll post back... hopefully the point gain trend continues!
After seeing score gains when each card reported $0.... I got no change when card 7 of 9 reported $0.
I did lose 6 pts on EQ and 3 each on TU and EX when I increased my util from 26% to 36% virtually all of which is 0% home furnishing/appliances purchases. Not a huge deal I know I'll get the points back when I pay down the balances on the 2 cards in the coming months...