Time for my scores to take a hit when balances report

[Thomas_Thumb]

Masscredit, thanks for the listing.

It appears that you have a total of $58k in combined credit limits. Here is an idea for score maximization while carrying a balance on your 2, 0% interest cards:

1) report a balance on these 2 cards only (2 of 8 open accounts - suspect no deduct for 2 of 8 vs 1 of 8 considering your profile)

2) Hold reported balance on the $10.5k card to $4.5k or less and reported balance on $1.6k card to $0.7k or less

 - Total balance => $5.2k or less out of $58k => AG UT under 9% [key scoring threshold]

A score increase of 30 points from current status would not be surprising under this scenario - IMO.

[masscredit]

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@Thomas_Thumb wrote:

Masscredit, thanks for the listing.

It appears that you have a total of $58k in combined credit limits. Here is an idea for score maximization while carrying a balance on your 2, 0% interest cards:

1) report a balance on these 2 cards only (2 of 8 open accounts - suspect no deduct for 2 of 8 vs 1 of 8 considering your profile)

2) Hold reported balance on the $10.5k card to $4.5k or less and reported balance on $1.6k card to $0.7k or less

 - Total balance => $5.2k or less out of $58k => AG UT under 9% [key scoring threshold]

A score increase of 30 points from current status would not be surprising under this scenario - IMO.

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The two cards that I'll have reporting are my Barclay cards. The $1.6k card is Merrick. That will be paid off before the statement closes. What I'll probably have is -

Barclay Rewards - $5000. / $10,500. - 47%

Barclay Apple Rewards - $600. / $4400. - 13%

Utilization will be at 10%. I might rethink those numbers and pay the cards down so it's at 9% to see what my scores do.  I only lost 5-18 points so I think I'll gain 30. But 7, 8 or 9% might give me a few more points than letting 1-2% report.

[masscredit]

An update as I pay things off -

January 17th -

Cap 1 - $0.00 / $9000.00 - 0%
Cap 1 $0.00 / $12,000.00 - 0%
Barclay Rewards - $4395.00 / $10,500. - 42%
Barclay Apple Rewards - $360.00 / $4400.00 - 8%
Walmart - $80.00 / $10,000 - .008%
JCP - $0.00 / $6500.00 - 0%
Merrick - $778.00 / $1600.00 - 49%

$5613.00 - Total utilization 11% - 4 cards reporting

TU08 -
724 (down from 728)

I haven't received an alert to tell me my EQ08 score has changed yet. My TU08 score lost 4 points by paying down the balance from $8339 to $5613. (15% to 11%).  

The current plan is to get my utilization to 9% after Merrick reports $0 next week. It will actually be .0895% then rounded up to 9%. Reported balances will then be -

Barclay Rewards - $4395.00 / $10,500. - 42%
Barclay Apple Rewards - $360.00 / $4400.00 - 8%

Walmart - $80.00 / $10,000 - .008% - This was an oops. Made a charge after I paid the card off then forgot to take care of it before the statement closed. 

The Walmart card will be paid off next month. After that, the Barclay balances will pretty much hang where they are for awhile because of 0% offers. The Apple card will drop by about $27.00 per month (7.5%). The Rewards card will go down by $43.95 (1%). 

Then I can see if there is any different between being at 1-2% and 9% (2 cards reporting).

Edit - 

January 22 - EQ04 gained 4 points - 678 - 682

[NRB525]

Thanks for updating.

Can you post the graphics of how your scores changed over these past few months? Or a summary of the timing of the score changes? I'm needing a magnifying glass to see any effect up or down from adding cards reporting or taking them back to zero, honestly.

[masscredit]

My scores pretty much stayed the same until I started playing with the balances. I would usually just have one card reporting a balance of about $795.00. That would round total utilization up tp 2%. Single card utilization would be 12%.

I worked up to a max of this - 

Cap 1 - $1322.00 / $9000.00 - 14%
Cap 1 - $0.00 / $12,000.00 - 0%
Target - $159.00 / $3000.00 - 5% (this card has now been canceled)
Barclay Rewards - $5108.00 / $10,500. - 49%
Barclay Apple Rewards - $712.00 / $4400.00 - 16%
Walmart - $251.00 / $10,000 - 2%
JCP - $9.00 / $6500.00 - .001%
Merrick- $778/00 / $1600.00 - 49%

$8339.00 - Total utilization 15%

EQ08 - Lost the most points. A total of 18

11/01 - 696 
11/14 - 693 - started with 2 cards
12/19 - 678 - 
01/22/16 - 682 -starting to climb again

EQ04 - Only lost 5 points

10/28 - 723
11/28 - 723 - didn't mind 2 card reporting
12/20/15 - 718 - 7 reporting

TU08 - This score seems to like higher utilization

11/10 - 720

12/09 - 717
01/01/16 - 728 - most cards reporting/highest utilization. Strange. 
01/17 - 724 - starting to pay them off and lowering the balance of the two that will report

EX08 -  Lost 7 points. I don't want to keep paying for the score so I don't follow this one as much

11/15 - 690
01/01/16 - 683