topic Re: Scores not moving in Understanding FICO® Scoring

Scores not moving

Anonymous — Sat, 08 Oct 2016 22:54:40 GMT

I been doing very low UTI currently at 2% last 2 months. I have 3 cc and 2 report 0 and one reports about $25 every month. I only have 1 negative account which is a aid in full charge off. Am I doing something wrong?
EX 634
TU 630
EQ 621

Re: Scores not moving

rmduhon — Sat, 08 Oct 2016 22:56:52 GMT

What's your AAoA? And what percentage of the limit for that card is $25? Other than that it looks like you might just need to let the accounts age some

Re: Scores not moving

Anonymous — Sat, 08 Oct 2016 23:02:23 GMT

Buy power card limit $500 balance $25 6 months
Cap1 unsecured $500 balance $0 - 3 months
Discover secured balance $0- 3 months

Re: Scores not moving

Anonymous — Sat, 08 Oct 2016 23:02:47 GMT

Discover limit is $200

Re: Scores not moving

Anonymous — Sat, 08 Oct 2016 23:05:14 GMT

I think it's possible to have too low UTL. I've been trying to keep mine around 7-9% on each card. I let my Cap1 report at less than 1% last month, then back up at 8.5% this month. It might be circumstantial, but right after Cap1 just reported the higher UTL, I got a 12 point bump on EX and 20 points on EQ with alerts on the increased UTL. From what I can tell, TU looks at the total UTL of all your cards combined each time one reports. I'm sure others with more experience can weigh in.

Re: Scores not moving

Anonymous — Sat, 08 Oct 2016 23:06:24 GMT

Only card I ever had report a balance is buy power card and never more than 4%

Re: Scores not moving

rmduhon — Sat, 08 Oct 2016 23:12:05 GMT

If my figures are right your AAoA is about 2 maybe 3 months. All you can do now is basically wait. You'll get a bit of a boost each month as the cards age and better ones at 6 months, 1 year, etc. This is the part that's hard for people with little or no patience. Have you tried for a CLI from Cap1 yet? I'm assuming the card is in credit steps?

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 01:21:45 GMT

Hey, AFTERLIFE, mad props to your rebuilding efforts! I just read through your post history and, man, I respect what you've accomplished! Best of luck in the future!

Re: Scores not moving

CreditScoreChallenged — Sun, 09 Oct 2016 01:40:39 GMT

I think time is going to be your best friend. You may need to add a loan for a better mix of credit. Also have you tried to gw that charge off?

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 01:53:48 GMT

No I have not tried to gw cause it's Bank of America and they really hard.
As to the credit limit on cap1 it should be getting an auto cli on that.
I got a really good pattern going on these 3 cards as I rotate the cards. I charge a card that is farthest from the cut off date on my rotation as to give me the most time to pay it off in full before statement.
Guess I just need more time to age but so far I think I've done everything I have learned from these forums.
On a good note myfico9 scores are damm near 700 but of course it's not really in use 😔

Re: Scores not moving

rmduhon — Sun, 09 Oct 2016 02:12:26 GMT

Cap1 Platinum and QS1 cards can usually get a CLI around day 60-75 and still get the credit steps CLI on the 6th statement. Just ask for it if you want to, it's a SP After that though it's every 6 months

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 13:55:25 GMT

Do you have any installment loans? If not you should really consider shared secure loan with Alliant Credit Union.

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 14:52:11 GMT

I just looked up Alliant but I'm not familiar with online banking. Do I just open and account and deposit $600 and then right away ask for a $500 secured loan for 60 months? Or do I wait a few months the ask for the loan

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 15:05:20 GMT

You can do it all online. I joined, then asked for the loan online. Someone called me to verify info and then I had to deposit the money. And I was done. Very simple and painless. Pay it down to like $43-44 for biggest score bump and you can get the biggest portion back right after the big payment. Be sure to turn autopay off and manually pay $1 or so every 6 months to keep it active.

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 15:17:16 GMT

Also to be clear, this only works if you have no other installment loans such as car loan, mortgage etc. It can still be beneficial to add thickness to your file if you have thin file though.

Re: Scores not moving

Anonymous — Sun, 09 Oct 2016 15:29:37 GMT

Nope all I have on credit is my 3 cc

Re: Scores not moving

joltdude — Sun, 09 Oct 2016 16:02:27 GMT

OP:

If you have no installment/car/etc loans, just CCs.. I'd consider trying to get together enough for a secured share loan...

When my scores stagnated.. this gave a noticable boost though it took a month or so after the loan was established. but I couldn't do the Alliant way (which is better) due to the short term offered by my CU...

I'm coming from building, vs rebuilding.. but the mix applies to both...

-J

Re: Scores not moving

Anonymous — Fri, 28 Oct 2016 23:05:45 GMT

Scores just updates few days ago and did not move I'm thinking now of just letting all 3 cards report a very low balance and pay off in full each.