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Credit scoring system is so rigged!

Birdman7
Super Contributor

Re: Credit scoring system is so rigged!

You’re definitely going to see a big increase but like @Trudy said, it would be 10 to 20 points higher if you had at least a couple dollars balance on one revolver.
-Scoring wisdom: Credit Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
Anonymous’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 21 of 29
anfbaseball28
Valued Member

Re: Credit scoring system is so rigged!

Lol are you saying I need to go charge $200 on a card?? 


@Birdman7 wrote:
You’re definitely going to see a big increase but like @Trudy said, it would be 10 to 20 points higher if you had at least a couple dollars balance on one revolver.

 

Message 22 of 29
Trudy
Valued Contributor

Re: Credit scoring system is so rigged!

If you follow FICO scores please search threads about AZEO (All Zero's Except One) which is referenced to maximize some scores which is what @Birdman7 is referencing.  As noted above, there is a penalty for All Zero's as the formula assumes you're not using your revolving credit and can't determine your responsibility of paying (no memory, just raw #'s at time reported). It's just part of the algorithm and one of the many things communicated and learned here. 

 

As @Birdman7 says, report a balance on 1 major bankcard, it can be as low as $5.  Let it report on your statement which will report to the CB's for most cards, pay before the due date and no interest charged.  That's enough to satisfy the FICO algorithm Gods.  It is what it is, regardless of how much sense it makes to some.  But that's if you're focused on scores. 

 

Your OP mentions myKarma and I assume you meant Credit Karma instead of MyFICO because there is no myKarma.  Those are not FICO scores.  You may see what you expect to see with Credit Karma but may be surprised if you app something and get different scores because most (90+%) of lenders use FICO scores.

 

FICO - 8: 05/07/21 AU 8 BC 8
FICO - 9: 05/07/21 AU 9 BC 9
F5,F4,F2 05/07/21 AU... BC...
Vantage 05/07/21
As of 05/01/21:
AoOA - 25Y2M | AoYA – 0Y6M | AAoA – 12Y0M
Open: 11 CC: (1 reporting 8.02% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 58.15% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 2/24 | (EX) 1/24
Message 23 of 29
Birdman7
Super Contributor

Re: Credit scoring system is so rigged!

Yep what @Trudy said. $5 is enough.
-Scoring wisdom: Credit Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
Anonymous’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 24 of 29
anfbaseball28
Valued Member

Re: Credit scoring system is so rigged!


@Birdman7 wrote:

@anfbaseball28 wrote:

There were a total of 6 cards.  All the cards were around 95% usage. My overall DTI was at 68%.  Now it's only 10%.


@anfbaseball28 DTI? Or utilization?


My DTI was was 72% and my credit card utilization on all my cards was 95% so pretty much maxed out on 6 cards.  Now all six cards are $0 balance and my DTI now is 15%.

 

thoughts? 

Message 25 of 29
ImTheDevil
Community Leader
Super Contributor

Re: Credit scoring system is so rigged!

As stated above, go buy lunch on one of your major cards and let that report. That'll avoid the "no credit in use" penalty.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 26 of 29
Birdman7
Super Contributor

Re: Credit scoring system is so rigged!

 


@anfbaseball28 wrote:

@Birdman7 wrote:

@anfbaseball28 wrote:

There were a total of 6 cards.  All the cards were around 95% usage. My overall DTI was at 68%.  Now it's only 10%.


@anfbaseball28 DTI? Or utilization?


My DTI was was 72% and my credit card utilization on all my cards was 95% so pretty much maxed out on 6 cards.  Now all six cards are $0 balance and my DTI now is 15%.

 

thoughts? 


@anfbaseball28  I think a big congratulations is in order! You've came along way buddy! You have done a total 180 and you should be proud of yourself! But you still need to go put five dollars on one of those cards! 😉

-Scoring wisdom: Credit Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
Anonymous’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 27 of 29
anfbaseball28
Valued Member

Re: Credit scoring system is so rigged!


@Birdman7 wrote:

 


@anfbaseball28 wrote:

@Birdman7 wrote:

@anfbaseball28 wrote:

There were a total of 6 cards.  All the cards were around 95% usage. My overall DTI was at 68%.  Now it's only 10%.


@anfbaseball28 DTI? Or utilization?


My DTI was was 72% and my credit card utilization on all my cards was 95% so pretty much maxed out on 6 cards.  Now all six cards are $0 balance and my DTI now is 15%.

 

thoughts? 


@anfbaseball28  I think a big congratulations is in order! You've came along way buddy! You have done a total 180 and you should be proud of yourself! But you still need to go put five dollars on one of those cards! 😉


Thanks man!! Done! Charged $18 on my Barclay card. 

Message 28 of 29
anfbaseball28
Valued Member

Re: Credit scoring system is so rigged!


@Birdman7 wrote:
You’re definitely going to see a big increase but like @Trudy said, it would be 10 to 20 points higher if you had at least a couple dollars balance on one revolver.

Done I charged $18 on my Barclay Arrival card.

Message 29 of 29
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