Fico says adding a credit card would increase score to 821

[Anonymous]

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@LuvsRetro wrote:

Ah, did not notice the AAoA figure not adding up correctly.  Thank you for pointing that Out!  

So the AZEO must be the 2 dollar thing that posters have talked about.  I will do that.  

Thank you.  

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The remaining card does not have to report a tiny balance (you mention $2).  In fact, a CC issuer will occasionally treat an ultratiny balance as $0.  Anything greater than $5.00 is 100% safe, however.  The balance needs to be small enough to still keep your total utilization very low.  Depending on your credit limits, that could be $25 or perhaps much larger.  Making it $10 works for any credit profile.

[LuvsRetro]

Ok perfect.  I will keep it at $10.00 for one card.

Thank you.

[LuvsRetro]

Updating for Data Points---------

Barclays account is the only one reporting so far.

TU is up to 826

EX is back up to 799

EQ is back up to 796

AAoA is 14.4

[Anonymous]

Good for you!  BTW, what tool are you using to get your AAoA?

[LuvsRetro]

Credit Check Total!

Hope that is ok....

[Anonymous]

CCT is fine.

[LuvsRetro]

So more data points, Experian alert...new account, score increase

New Score:     838 

Discover reported

Barclays reported with $69.00 balance

Still waiting on Amex to report

[Anonymous]

First, congrats on the increased score!

Something doesn't seem to make sense though.  Essentially you're saying that your score increased 57 points from adding another CC.  That just doesn't seem logical.  Actually, considering you took on an inquiry and AoYA drop, the gain was likely > 60 points, just some of it was masked due to other factors.

I can't say I've ever heard of someone adding a CC and seeing a > 60 point gain.  Are you positive that nothing else changed on your credit report?  I could see if adding this new card cut your utilization down from say 55% to 8% or something.  Did the new card reporting result in a dramatically lower utilization percentage?

[LuvsRetro]

Hi, I was trying to decipher my Experian alerts...

Timeline:

11/20     Credit Rating Increase - from Very Good to Exceptional

11/20     835 ---Credit Score Increased by 36 points Alert 

11/11     New Bank/Card Alert - Discover 

11/3        Balance Decrease Mortgage

11/1        799 ---Credit Score Increased by 18 points Alert 

10/31      New Bank/Card - Barclays

10/30      Barclays Inq        

10/22      781  - Score Drop 10 pts

10/22      Amex Inq

10/22      791...... Exp Fico              

Amount of Debt:  Revolving 2%

Accounts w/bal:   3

Revolving Acct Bal:  $83

AaoA:  10yrs  7 mos

Oldest Acct:  23yrs 2 mos

Amount of New Credit/Fair

Latest Open Account:  1 mo

Inqs in Last Year:  1

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Prior to that, I had Cap1 reporting at 4%, nothing else except Mtg 

Hope this helps....it is all likely due to thin open file...

Also, I noticed that the Score is Actually 835, not 838, sorry eyes were blurry, lol. (unless it was on CCT, didn't recheck)