3 open revolving accounts vs 2 and the increase in available credit ($ value, not percentage) are my two guesses. I would think FICO scoring understand the difference between $5,000 open credit and $50,000, while 3 open revolving accounts is rumored to be ideal.
Congratulations by the way!
Edit: just saw the x2 next to CapOne - maybe the open revolving accounts doesn't factor in to this specific increase.
1% isn't best for everyone. Maybe 7% works better for you.
Did any of your baddies ages past a year, two years, etc.?
Starting Score: ~500 (12/01/2008)
@SwiftTone wrote:
@SnackTrader wrote:3 open revolving accounts vs 2 and the increase in available credit ($ value, not percentage) are my two guesses. I would think FICO scoring understand the difference between $5,000 open credit and $50,000, while 3 open revolving accounts is rumored to be ideal.
Congratulations by the way!
Edit: just saw the x2 next to CapOne - maybe the open revolving accounts doesn't factor in to this specific increase.
I'm now at 6.9% utilization with only 1 card reporting a balance. My EQ FICO score has increased to 737 from 734.
Does 6.9% round to 7% of 6% in scoring of FICO?
Utilization always rounds up. So even 6.1% would be scored as 7%. This is why when I relay advice about the general rule for what people should let report for optimal scoring, I think it is more clear to state 9% or less. You often see it stated as less than 10%, which leads to confusion if people do not realize that 9.1% will be scored as 10%.
@bradpitt wrote:If I remember right you had 3 cards reporting balances then.
Reporting only one card with a balance can make quite a difference.
I also think you will get more points when you get it down to 1-2%.
How different its would be ???
Starting Score: 560