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@Anonymous-own-fico wrote:
@HiLine wrote:
I plan to cancel my Score Watch subscription at the end of my challenge; the final meaningful benefit of this service, discounts on Score Power reports, has been eliminated.
I still subscribe to myFICO's old EQ SW. A new report from each of the three agencies is listed at a 30% discount!
Correct. But the Equifax score report is not a Score Power report which would come with a FICO 04 score.
My score is now 768, thanks to the card that used to report more than 30% utilization dropping below 30%. This is the highest score I have ever achieved with Score Watch under Equifax FICO 08. My highest Equifax FICO 04 ever was 735, which implies that my Equifax FICO 08 was about 785 back then. I know that I can go back to at least 785, and hopefully the extra AAoA and credit history length will push me into the 800's range.
My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.
@HiLine wrote:My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.
You can pay it down before the cycle closes and chase will report a 0 balance to the bureaus. Just a good nugget of info to have regarding Chase and their reporting policies.
HiLine, I admire your persistance. I currently report a fico of 826 with equifax. My formula is as follows: I have a mortgage(do not pay PMI), I have two brand new cars that I lease (both of them are worth about 65K and 70K respectively), I have only two active credit cards, a discover and an amex blue. Amex gets paid off in full every month and my discover has had a balance transfer done on it for about 11K about a year ago. That balance is now down to $1900. I am married and my wife's credit history is relatively short but when we run her fico, it returns a 787. I'm not too sure what exactly got me in to the 820's, but clearly something is working well for me :-D
Hiline did you know that when you click your blog link it sends it to something that is not your blog?
@Anonymous wrote:Hiline did you know that when you click your blog link it sends it to something that is not your blog?
That's strange. When I click on the link, I always get directed to my blog...
@Kenny wrote:
@HiLine wrote:My score took a dive today because of a high balance reported. My Chase card utilization stands at almost 70%. The limit on this card is one of the lowest I have, and I am hoping to gain an automatic credit limit increase from Chase by letting a high balance reported. Will bring it down next statement cycle, possibly all the way to 0. This is an easily retrievable 15 points, so I am not concerned. My score as of today is 753.
You can pay it down before the cycle closes and chase will report a 0 balance to the bureaus. Just a good nugget of info to have regarding Chase and their reporting policies.
Right. If I want a $0 balance reported, I will even pre-pay my purchases.
@Anonymous wrote:HiLine, I admire your persistance. I currently report a fico of 826 with equifax. My formula is as follows: I have a mortgage(do not pay PMI), I have two brand new cars that I lease (both of them are worth about 65K and 70K respectively), I have only two active credit cards, a discover and an amex blue. Amex gets paid off in full every month and my discover has had a balance transfer done on it for about 11K about a year ago. That balance is now down to $1900. I am married and my wife's credit history is relatively short but when we run her fico, it returns a 787. I'm not too sure what exactly got me in to the 820's, but clearly something is working well for me :-D
Very nice. I think having a mortgage and a long credit history definitely helped your case.
it goes to hiepsfinance.com I know I am not crazy..lol
@Anonymous wrote:it goes to hiepsfinance.com I know I am not crazy..lol
Welcome to my blog!
On a related note, Chase today increased the credit limit on the aforementioned card by 4k, making it one of the highest limit cards I have. How the table turns ...
No Score Watch alert this week. I expect a huge score change in November: I plan to have only 3 out of 13 active cards reporting a balance, with total utilization dropping to just below 10%, and individual utilization being below 50%, 20%, and 10% respectively. Hopefully these positive changes will add at least 20 points to my score, taking it to the mid- or high-770's.
I have a bit more than 2 months left to complete the 800 FICO challenge: credit history length will hit 3 years the second week of January, at which point AAoA will be over 2 years. At the same time, I am going to have only 1 card reporting a balance with individual utilization below 40% and overall utilization below 8%, and the balance on my auto loan will be about 75% of the original balance.
My current Score Watch annual subscription expires in 2 weeks; I am going to get a monthly subscription just for this challenge.
Happy Halloween, everybody!