topic Re: bleep 5 months credit improvement...no score change?? in Understanding FICO® Scoring

bleep 5 months credit improvement...no score change??

techcrium — Fri, 16 Jun 2017 03:17:50 GMT

http://i.imgur.com/JggcOGh.png

http://imgur.com/cxnTzGP

http://i.imgur.com/TJVJbeb.png

http://imgur.com/BmeXY3g

Ok help me understand this.

Over the past 5 months,

1. my utilization went from 82% to 66%

(See pic)

2. My credit inquiries in last 2 years went from 13 to 11

3. My average age of account went from 4 years 1 month to 4 years 3 months

Yet my credit score remained the same....what is going on?? Also no additional missed payment. I missed 1 payment in Dec 2016 I believe.

Re: bleep 5 months credit improvement...no score change??

SouthJamaica — Fri, 16 Jun 2017 03:16:56 GMT

@techcrium wrote:

http://i.imgur.com/JggcOGh.png

http://i.imgur.com/TJVJbeb.png

Ok help me understand this.

Over the past 5 months,

1. my utilization went from 82% to 66%
(See pic)

2. My credit inquiries in last 2 years went from 13 to 11

3. My average age of account went from 4 years 1 month to 4 years 3 months

Yet my credit score remained the same....what is going on?? Also no additional missed payment. I missed 1 payment in Dec 2016 I believe.

Patience. These things take t.i.m.e.

Re: bleep 5 months credit improvement...no score change??

techcrium — Fri, 16 Jun 2017 03:18:47 GMT

I understand but can you please explain why there's no score change at all? Not even plus 1 point?

Re: bleep 5 months credit improvement...no score change??

Anonymous — Fri, 16 Jun 2017 03:52:00 GMT

Your utilization is still too high. Ideally it should be less than 10%. When you get it under 50%, it should start to move. Once you get it up under 30% there should be some real change. It seems the sweet spot for a high FICO score is around 1% of your credit limit.

Re: bleep 5 months credit improvement...no score change??

Glen_M — Fri, 16 Jun 2017 13:50:53 GMT

@techcrium wrote:

http://i.imgur.com/JggcOGh.png

http://imgur.com/cxnTzGP

http://i.imgur.com/TJVJbeb.png

http://imgur.com/BmeXY3g

Ok help me understand this.

Over the past 5 months,

1. my utilization went from 82% to 66%
(See pic)

2. My credit inquiries in last 2 years went from 13 to 11

3. My average age of account went from 4 years 1 month to 4 years 3 months

Yet my credit score remained the same....what is going on?? Also no additional missed payment. I missed 1 payment in Dec 2016 I believe.

1. Utilization may have lowered a bracket, but neither bracket you've been in in that time frame is "good". Under 9% is good, over 50% is going to hurt -- there are other milestones, but it sounds like a lot of movement is needed to get there.

2. The difference between 13 and 11 inquiries is not likely to be significant. They're likely the same risk 'bucket'. Under 10 may be better, under 5 certainly would be.

4. Your average age of accounts did not change. 4 years X months is the same as 4 years Y months. "4 years" is all they're really counting.

I would not have been surprised by a point or two increase with months of on time payments, but I'm also not surprised with no +/- considering that nothing really changed either.

Re: bleep 5 months credit improvement...no score change??

Anonymous — Fri, 16 Jun 2017 14:18:23 GMT

1 missed payment hurts for 2 years and can have the effect of wiping out other gains while it ages off. Have you tried goodwill letters there? Do you have any other derogatories reporting?

Re: bleep 5 months credit improvement...no score change??

medicgrrl — Fri, 16 Jun 2017 16:58:51 GMT

I'm on my cell so it's a little difficult to read, but did you go from 7 open revolving accounts to 8?

Re: bleep 5 months credit improvement...no score change??

techcrium — Fri, 16 Jun 2017 17:28:28 GMT

I believe I opened a new account which lowered utilization ratio, slightly reduced AAoA (hence my AAoA was 4 years 3 instead of 4 years 5)

Re: bleep 5 months credit improvement...no score change??

medicgrrl — Fri, 16 Jun 2017 23:18:20 GMT

It also caused your AoYA to decrease, which may have offset any score improvement you would have seen for utilization improvement.

Re: bleep 5 months credit improvement...no score change??

Aprile421 — Sat, 17 Jun 2017 16:40:08 GMT

I would also think it depends on individual utilization on cards. If you have any close to maxxed out or above 80% that is going to hurt even if you did add another card to offset the utilization. If you have cards that have high balances try paying them down to about 49% and see if your score changes. Adding cards to help over all utililization not only lowers your AAoA and adds inquiries it does nothing to help the ding you get from having indiviual cards close to max territory or very high utilization.

Re: bleep 5 months credit improvement...no score change??

Anonymous — Sat, 17 Jun 2017 17:15:23 GMT

@Aprile421 wrote:

Adding cards to help over all utililization not only lowers your AAoA and adds inquiries it does nothing to help the ding you get from having indiviual cards close to max territory or very high utilization.

And even more importantly, it does nothing to lower your actual debt.

When a person has a lot of CC debt, he is best served by not worrying about his scores. Your actual finances are always way more important. So forget about the scores. The area of focus should be paying off your CC debt and not opening more accounts. When your CC debt is entirely paid off, and you have a clear actionable plan on how to never have CC debt again, then you can apply for another card.

The good news is that as your CC debt is paid down, it will in fact increase your scores. You will get benefit at 49%, 29%, and 9% for certain.

PS. When I talk about never having CC debt again, it doesn't mean not allowing a credit card to report a balance. It just means always paying them off each month.

topic Re: **bleep** 5 months credit improvement...no score change?? in Understanding FICO® Scoring

**bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

Re: **bleep** 5 months credit improvement...no score change??

topic Re: bleep 5 months credit improvement...no score change?? in Understanding FICO® Scoring

bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??

Re: bleep 5 months credit improvement...no score change??