@barca wrote:
@Horseshoez wrote:
@barca wrote:I think everyone on this forum including myself is obsessed over FICO score.
even a 2 point drop, and sometimes I get angry.
At the end of the day , I have decided not to obsess over it anymore.
The final objective is to get the best rate or best deals.
If I have 5 year of history with 800 score.
or 7 year of history with 800 score.
or 30 year of history with 800 score.
in the eyes of the lender you all get same rate.
I guess I'm definitely defective; all of my cc accounts this month happened to report a zero balance and I took a 19 point whack; my response? "Oh well, it'll come back next month; who the heck cares?"
Exactly. it will come back anytime you decide to do AZEO
Moreover, depending on your profile, the 19 point loss might not even make any diff to a lender.
e.g. if you are initially at 800 then dropped to 781. A lender will give you same rate
Yeah, well, for me at least, it does make a difference, errr, if I were applying for credit any time soon instead of gardening. Using my EX FICO 8 (which is 33 points lower than the next lowest of my 28 FICO scores) as an example, this most recent month my score dropped 19 points from 678 to 659. And on the AZEO thing, I have written here many times, it doesn't seem to make any difference whether I have 1 or 2 of my 3 revolvers reporting a trivial balance in any one month. I strongly subscribe to "Finances over FICO", I pay all of my cards in full prior to every due date, and it just so happens this month no latent charges popped up between payment and statement, so I hit All Zero, and this in turn caused the aforementioned 19 point drop.
As for when I do come out of the proverbial garden, next spring by the way, several things will have happened to change my scores, hopefully for the better:
- I'll be on a "Clean Score Card" as my Chapter 13 will have aged beyond 7-years and dropped off my reports.
- All of my "Hard Pulls" for new credit will be at least 1 year old.
- All of my new accounts will also be at least 1 year old.
Maybe I'm being too much of a Pollyanna, but I think, or at least hope, all of my scores will be over 750 by spring 2022 (some are already there and many are getting close; as reported elsewhere, my FICO 8 lags everything else).
