This method of posting a small (less than 7%) balance on one card while letting the others report a ZERO balance is the strategy I employed when I began rebuilding in May 2016. I was fastidious about making sure I pre-paid my American Express card down to below $2,500 before statement close as well as ensuring that my MasterCard was paid in full prior to the statement date. However, what I discovered was that this was a great headache, and after about 6 months my scores remained "Range-Bound." So it seemed that I wasn't getting the boost I was hoping for, despite paying down my installment account from the $20k original balance to about $7500 quite rapidly during the same period. So I decided to put my cards (keep in mind, I was very lucky to open these unsecured credit accts in my situation on or around Mary 2016. At the time, I moved and the realtor told me I had a "ghost score" AKA no credit history. I had had trouble in the past around 2009-2011 in college and primarily because I got rejects each time I tried to open credit accounts since then, I just ignored my credit and used my debit card. When the realtor told me this could have become an issue without me providing a proof of funds and letter from my employer on my sal, I decided to try to open accts again and was luckily able to do so) That said, my credit score was in the low 600s. So back to the issue at hand, I got lazy, put the cards on autopay and just let the chips fall. I was shocked at what happened. All of the following is true and per the myFICO score history. All are my EXPERIAN scores as this is my lowest and hardest to increase. The first month was May of 2017, and my EXP was 645. 1) My Mastercard reported an increase from 0-$1,250 with a line of $7k. Score went UP! 645-662. I was stunned. 2) Inquiry appeared. Score UNCH. 3) Wells Bank Propel Card balance increase. $0-$295 w/ a line of $5k. Score UNCH. THIS NEXT THING IS ASTOUNDING AND TOTALY CONFUSING TO ME. My Amex charge card was the last to report. I let a huge month go to statement and was scared to see what it did to my score. Normally my avg. spend is about 10k and this account is Paid in Full as its a charge card. Amex Balance Increase: +$41,830. $13,105-$54,935. EXP Score went up!! 662-678!!. It put me in the "GOOD" category for the first time ever on Experian. Since then my score has dipped but hung out around 640-665 ish. This is completey counterintuitive. I still frankly dont understand this at all. Has anyone else seen this strange scoring anomoly? It basically makes me think that there is no way to truly impact our scores through our deep knowledge of scoring or through logic. This is maybe the most illogical result of an action so likely to produce the opposite. So my point is, I applaud your list. It is very logical and all these are the things I've attempted to employ. But it seems like the best results happen when I just let the chips fall. Perhaps another member can help me understand this.
