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Scratching my head over reason codes

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Revelate
Moderator Emeritus

Re: Scratching my head over reason codes

Hrm, not seeing that being conclusive with that new account (might've dropped you low enough to start generating reason codes again which maybe get masked at higher tiers); it does look like 2/6 may well be a drop.

 

Prior to your next 3B would you mind trying only 1 balance and see if the number of accounts with balances reason code drops out of the list?

 

I'm expecting to do my own balance testing again after my file settles down for July - November roughly, still inquiries and maybe my tax lien coming off EX and EQ which will skew things badly trying to do it now.

 

CGID: Did we get confirmation points on ~35K being excluded somewhere?  I know that's been pontificated on the forum for years but I'm really starting to think we need to simply retest everything... so many things just don't appear to have been accurate with the improved access to both FICO scores and reason codes that we now have in the modern market.  I can test that with my 43.5K CSR on EX pretty easily and cheaply enough.

 

 




        
Message 21 of 27
Anonymous
Not applicable

Re: Scratching my head over reason codes

Please do test it.

Message 22 of 27
HeavenOhio
Senior Contributor

Re: Scratching my head over reason codes

I definitely want to test only one balance, but I'm not sure when I want to do it. I may only see a result on TU as one card reporting a balance would likely bump my EQ score above 800 and eliminate reason codes entirely. I don't think TU will see 800 anytime soon no matter what I do.

 

I've been purposely reporting two positive balances ever since members reported Capital One CLDs for balances on Capital One cards being too low and balances on non-Capital One cards being too low. I've been a good soldier with them, so I'm not worried about CLDs. But I'm eligible to request CLIs with them at the end of July, and I'll probably do that sometime after August statements cut.

 

If possible, I'll test a single balance while I still have only six cards. I'd like to apply for another card or two, but I don't think I'll be doing that until somewhere between November and next February. November would make all my cards a year old except for one. In February, all my cards would be a year old. Then again, I was getitng the "too many cards" reason on TU with two of eight cards reporting, so the number cards may not matter for me.

 

This month, I'm testing smaller balances on two cards. In May, I was dinged for reporting an extra $400 (on both FICO8 and the mortgage scores) despite the fact that no card is reporting over 9% and despite the fact that my overall utilization is only 5%. I want to see if smaller balances restore the points. The only thing that might muddy the test is that my AAoA is about to rise a year on EX.

Message 23 of 27
Anonymous
Not applicable

Re: Scratching my head over reason codes

Getting yourself out of the under one year AAoA mark should help overall -- I'd total up your total age of accounts in months and hold off adding new accounts until even the new acccount addition keeps you at 12+ months of AAoA.  Then it'll age together nicely with the rest and soon new accounts added to that won't bring you under that 12 month floor.

Message 24 of 27
HeavenOhio
Senior Contributor

Re: Scratching my head over reason codes

My AAoA is in the five to six year range. It's the newest accounts that I want to allow to age a bit.

 

As far as AAoA, I've set a soft requirement that I won't allow it to go below five years. But I could change my mind on that. Smiley Happy Even if I let it decrease, AAoA shouldn't be an issue if I want to app. But the fact that I've gotten five cards in nine months and exponentially increased my limits certainly could be.

 

I have three ancient cards that I was limping along with for years. It got to the point that from a financial standpoint, I knew I needed more cards. But I didn't know anything about scoring, utilization, AAoA, new accounts, and alll that. So last fall, I ended up getting four new cards. Two were dumb, and I ended up closing them. One's a yawner that I can work with. One I'm pleased with, but it came with a low limit, likely because of new accounts and relatively high utilization. When I got my last card in February, I knew what I was doing and was on top of my game.

 

Had I not wasted two or three apps, I'd apply for something right now. I know what I feel I need, I know what I might want, and I know I'd be comfortable managing eight or nine cards (no more than that). So I'll wait a bit and pick carefully. After that, I hope to be set for years unless an opportunity takes me by surprise.

Message 25 of 27
Revelate
Moderator Emeritus

Re: Scratching my head over reason codes


@HeavenOhio wrote:

I definitely want to test only one balance, but I'm not sure when I want to do it. I may only see a result on TU as one card reporting a balance would likely bump my EQ score above 800 and eliminate reason codes entirely. I don't think TU will see 800 anytime soon no matter what I do.

 

I've been purposely reporting two positive balances ever since members reported Capital One CLDs for balances on Capital One cards being too low and balances on non-Capital One cards being too low. I've been a good soldier with them, so I'm not worried about CLDs. But I'm eligible to request CLIs with them at the end of July, and I'll probably do that sometime after August statements cut.

 

If possible, I'll test a single balance while I still have only six cards. I'd like to apply for another card or two, but I don't think I'll be doing that until somewhere between November and next February. November would make all my cards a year old except for one. In February, all my cards would be a year old. Then again, I was getitng the "too many cards" reason on TU with two of eight cards reporting, so the number cards may not matter for me.

 

This month, I'm testing smaller balances on two cards. In May, I was dinged for reporting an extra $400 (on both FICO8 and the mortgage scores) despite the fact that no card is reporting over 9% and despite the fact that my overall utilization is only 5%. I want to see if smaller balances restore the points. The only thing that might muddy the test is that my AAoA is about to rise a year on EX.


If the reason codes go away we know 2/6 was a problem: why?  Because you have that new account and I'm tracking an account that's slightly older than yours and I have that reason code.

 

Simple process of elimination, and your other two aren't going anywhere anytime soon heh. I'd do it right now personally.

 

I think you're overly concerned about the CLD thing: the only people they whacked were north of 30K from what I saw, and it wasn't for a one month low balance, at all.  Don't let outliers on the forum impact your own credit life, their data isn't applicable to the vast majority of members.




        
Message 26 of 27
HeavenOhio
Senior Contributor

Re: Scratching my head over reason codes

I think I'll let my AMEX (Card 1) report zero in a couple of days, provided that my pending charges go through in time for me to be able to pay them off.

Message 27 of 27
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