No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I had an odd experience with zero utlization and score.
i had 2 cards reporting 223/5000 ad 394/3500 in january, an overall utilization of 2ish percent. With a very new account (under 3 months) and 10 inqs during 12 months, my score was at 677.
At the end of January, when the 394 balance reported zero, i had no accounts with a balance. and my score went up to 687. A few days later my score was back down to 679 with when my US Bank updated, reporting 254/6500, sub 1 percent overall balance.
Right now i have 2 accounts reporting a balance, 39/3000 and 285/6000. 1 percent overall. Currently i have 7 inqs in 12 months, and my youngest account is at 3 months, and im up to 697. Now i'm thinking i might let both of these cards go to zero to see if it has the same effect(i'm doubtful)
@YahComb wrote:I had an odd experience with zero utlization and score.
i had 2 cards reporting 223/5000 ad 394/3500 in january, an overall utilization of 2ish percent. With a very new account (under 3 months) and 10 inqs during 12 months, my score was at 677.
At the end of January, when the 394 balance reported zero, i had no accounts with a balance. and my score went up to 687. A few days later my score was back down to 679 with when my US Bank updated, reporting 254/6500, sub 1 percent overall balance.
Right now i have 2 accounts reporting a balance, 39/3000 and 285/6000. 1 percent overall. Currently i have 7 inqs in 12 months, and my youngest account is at 3 months, and im up to 697. Now i'm thinking i might let both of these cards go to zero to see if it has the same effect(i'm doubtful)
I don't think thats that strange. Others have reported similar experiences. I'm personally just trying to keep mine as close to zero as possible. Maybe if I really need to try to maximize my score at some point, I'll carry a small balance on one, but in the meantime, I might just keep them all at zero.
@YahComb wrote:I had an odd experience with zero utlization and score.
i had 2 cards reporting 223/5000 ad 394/3500 in january, an overall utilization of 2ish percent. With a very new account (under 3 months) and 10 inqs during 12 months, my score was at 677.
At the end of January, when the 394 balance reported zero, i had no accounts with a balance. and my score went up to 687. A few days later my score was back down to 679 with when my US Bank updated, reporting 254/6500, sub 1 percent overall balance.
Right now i have 2 accounts reporting a balance, 39/3000 and 285/6000. 1 percent overall. Currently i have 7 inqs in 12 months, and my youngest account is at 3 months, and im up to 697. Now i'm thinking i might let both of these cards go to zero to see if it has the same effect(i'm doubtful)
So once again, i have all cards reporting zero balance. same exact bump, +8 points, 701 to 709. Discover should report tomorrow on my EQ, and thursday i guess itll go back down again when SW should alert me. Only letting .5% report on the discover-probably still counts as 1%, and overall utilization of 0.05%. the only card i was letting report before paying to zero was at 4.75% utilization.
Sensitivity to accounts with balances is also dependant on what scorecard you are in. I have 3 CCs and an Amex Charge card. When my CC accounts were under 4 years my EQ FICO varied from around 740 with 2 reporting balances to 760 with all 4 reporting. When the oldest reached 4 years the range changed to between 690 and 755.
so from 0 cards reporting a balance, to one card reporting 17/3500. Lost 5 points 709 to 704.