All Cards Reports Zero Question

[Anonymous]

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@Anonymous wrote:

Chase's Credit Journey gives you Vantage scores and not FICOs.  You don't need to be concerned with ANY minor change in your VS scores.

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I also have a Chase Amazon card.  Paid it to $0 and took a 17 pt hit.  Feel like crying.  So are you saying that that when they report, any change in score is not accurate?

[Anonymous]

Any change to any score is "accurate."  The real question however is whether or not it's relevant.

Chase Credit Journey provides you with a VS 3.0 score, which is not a FICO score.  It's an unmeaningful/irrelevant score, as you should be looking at FICO scores since most lenders use them. 

[SBR249]

When I accidentally had months with all 0s reporting my EX FICO takes a 16pt hit on freecreditscore.com (the EX service site). Like clockwork, the next month it goes up 16pts. Next time it happens, another 16pt dive. 

The problem (or maybe advantage) of Chase is that they will report anytime you paid your balance down to zero, however many times midcycle you do it. So if you are using Chase in your AZEO as the reporter card, you will get socked with a 0 penalty as soon as you pay it off. It's a good way to get a quick score boost if you run higher utils but if you run a tight ship, it's useless for that. (BTW, AZEO is really not all that necessary anyway unless you need to eke out every single point for an app. Just keep util at manageable levels and let things report). 

As for the OP, I suspect the point dip is less to do with letting something report and more to do with the 17% util. Generally it's recommended to keep util on individual cards below 8.9% to maximize score. 

[Anonymous]

No wonder some people struggle to rebuild.  To **bleep** many factors and now there are a million different scores.   How are people supposed to know they are looking at the score that matters?

[Anonymous]

For people with 700 or lower, I can understand trying to boost it any way possible for an app. But anyone over 800, I just can't see it mattering that much to gain 20 points. These days it's almost unheard of to get a very low APR on CC, the standard seems to be18-20% regardless. 

CU's and local Banks are where you'd go for single digits or low teens. 

The ony benefit to 800s would be for Mortgages, IMO. And maybe Auto Insurance.

Most of the people trying to rebuild/build though, know almost nothing about these micromanaging steps. And are often misled by places like KK, blogs etc. on the correct path to do so. Luckily places like myFico exist to assist them, and I wish that more people can find them before too many mistakes are made.