Too many accounts with balances....

[Tonya-E]

How much of a ding can you expect if you slightly exceed the 50% threshold of accounts with balances? 

[RobertEG]

Percent with balances is just one sub-category within the sub-category of revolving util, which itself is just one part of overall util scoring category.  The relative weighting of revolving util is not even known, let alone the sub-weighting of % revolv with balance.  Then, the specific score function that asseses the pts would have to be known.

Too many unknowns. 

[Tonya-E]

I figured that. I just wanted to see if anyone had any experience of teetering over to experience that particular ding that's all.  Utilization wouldn't be an issue, just the too many accounts with balances part.  Thanks for responding.

[notyou]

I have. When I paid off a lot of cards I got a whopping 8 point increase just this week when they all finally reported!

[Tonya-E]

Ah ok...well that at least gives me a ballpark figure.  I know this isn' t an exact science anyway. Thanks notyou!

[haulingthescoreup]

It has been a long time since I had few enough accounts to go over 50%, but IIRC, it was 5-8 points.

That was for my specific profile at that particular point in time. I had a lot of open installment and mortgage acounts, which by definition always report a balance, and it could be a scramble to have all but one card paid off to avoid the 50% thing.

This is probably the ultimate YMMV thing.

[Tonya-E]

Thanks hauling... That is my delimma.  I will have 11 accounts once the 2 cards I just closed update on my report.  4 of those will carry a balance for quite a while (mortgage, car loan, consolidated student loan now showing as 2 accounts). So out of my credit cards I can only have 1 showing a balance not to go above the threshold. I have a BT I am paying off on one card so it will have a balance for new next few months. However, I lost track of my statement closing date this month and used one of my other cards too soon so it posted a balance (albeit a small one at $68).  I suspect I will take a hit for it.  But this is only IF the 2 cards I closed update on my CR  during the regular scheduled statement closing dates.  Plus I just want to know for future reference since it may happen again at some point.  I try to keep every card at zero except the one but every now and then I lose track of the closing dates and mess something up.

[GregB]

Look at your EQ FICO report for items negatively affecting your score. If it isn't on the list, it is having no effect.

Just experiment and let one more account report a balance and see if it makes a difference. The big effect of 5-20 points is only there around 50% of accounts for some people. It will depend what else is on your reports.

[Tonya-E]

Hi Greg.  If the closings report on time, I will find out the effects within the month.  So I may soon know.  It's not currently on my negative list though because as of now I showw 13 accounts with 6 showing a balance.  I will see what happens.  But I may very well let it happen one month just to see what the effects are. I am thinking with it being at 55% on 6 of 11 accounts reporting it may not sting too much.  But who knows....