@lg8302ch wrote:Yes it is correct that for optimal scoring you should let all accounts report with 0 balance and 1 account with 1-9%. This is if you want to have the best results with your Fico score. With Fico 08 now I noticed with my profile at least that it does not matter much anymore. Last year when I had balances reported on most accounts the score difference was 40+ points. My ultimate test was 1$ on each account (8 accounts at that time) and then paid down and let 7 accounts report with 0 balance and 1 account with 8$ and even though my overall util was the exact same Fico had me punished with like 40 points drop for too many accounts with a balance. Now with the Fico 08 I can have several accounts with balances and if the util range does not change it does not make much of a difference anymore. Right now I have balances reported on 8 accounts and overall util of 4% but if I would have the overal util still 4% but on fewer accounts I would probably gain less than 5 points from my past tests. I might try the same ultimate test once again just to see what would happen with Fico 08.
As for reporting high balances it is not with every lender the same. Even if you pay down and let 0 balance report some lenders will report the highest balance during the month. But this is a figure that does not have any impact on Fico scoring. Also some lenders to not report at all if there is no activity on the account. So if you rotate your cards and not always the same 0 balance it is not a bad idea IMO. Also make sure you do not report 0 balance on all accounts. Fico does not like this. ;( If you only have 1 account then let 1-9% report for best results.
As I only have EQ SW I cannot really comment how TU or EX is reacting.
Ya had me all excited about this part, but this is EQ direct, not from the 3B monitoring at MyFICO?
I hope that the "multiple cards reporting something" does not matter, and that seems like it should be the case, as long as the total amount outstanding remains the same, and the profile is allowed to report consistently for several months. Introducing balances to cards, taking balances away from cards, is a short term impact that needs time to stabilize for such an experiment to work well.
I don't know about your people on my case is not working i let two card report balance one $ 57 and the other $ 21 and my score is loss 20 point and the next month the first report 0 Balance and the score up 20 point and when the last one report at 0 balance i loss 24 point is put me on 580 my score on EQ so i don't know maybe if you have score 700+ is diferent
