Very good to Exceptional credit mix with Citi rewards wmc flexible spending account

[Anonymous]

I've noticed I can carry a balance on one two or three cards sometimes with a zero point change. Most likely because I have 9 open revolvers including store cards. But azeo is a great method to follow. And I would guess would be better when viewed by UW.

[Anonymous]

BBS said CREDIT MIX is maximized with 1 revolver and 1 loan, which is true to the best of my knowledge.

Having more cards allows you to optimize number of accounts with a balance beneath certain thresholds. This is not a part of credit mix, but of Amounts Owed.

The number may be 3 for FICO 8, but it is not for all other algorithms. Probably 5 for EX2. So you really must clarify which algorithm and which part of the FICO pie you are addressing.

[Anonymous]

Yes he did. And I agree.
Didn't think having 9 revolvers helped my credit mix more than say 3.
I'm talking FICO 8. Of course my mortgage score is lower when I carry more balances.
What's unclear?

[Anonymous]

I agree having more cards with a balance under a threshold would affect amounts owed.
Yes when I apply for a mortgage I'll stop worrying about FICO 8. I'll use azeo. I've seen my mortgage Experian score drop significant points when I've allowed more cards report balances.

[Anonymous]

No, having nine revolvers does not help your credit mix more than three. On any algorithm that I’m aware of.

But you cannot get under the lowest threshold for a number of accounts with a balance with only three cards for the mortgage scores.

It’s not about Credit mix it’s about amounts owed. And you can’t get to 20% of revolvers reporting a balance, if you only have 3 revolvers. It’s just not mathematically possible.

Yes, you can do AZEO and get to the best possible score that you can get with only three cards, but if you did AZEO with five cards you would have a better score on EX2, and probably the other mortgage scores as well.

Not to mention the advantages of having a thick file.

[Anonymous]

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@Anonymous wrote:

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@HighAchiever wrote:

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I didn't get the exceptional rating until my number of Bank-Issued Credit Card Accounts with Experian went to 7.

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That's just because CMS's like to try and get people to apply for additional credit cards that they don't need.  Moving from 6 to 7 bank issued credit cards isn't going to do anything at all for credit mix.  It's all CMS front-end software fluff.  And, unfortunately, it works or it wouldn't be there.

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Which also feeds into some of our wants for new CCs! Your reasoning while more responsible and sensible, doesn't sound as exciting as CK's "you're Approved" for all these cards, and it looks better for your CR to have 7-14 of them!

Just as long as having 6-7 doesn't have a negative affect versus 1, then it's all good.

The actual number of people who practice AZEO are probably only in the 1% though?

[Anonymous]

Ok I wasn't saying having nine revolvers helped my credit mix. I simply said I can let 3 revolvers report and see same FICO 8. As if I let one report.... Somebody asked about azeo and I simply stated it's a great method but it didn't affect my FICO 8 scores when I let a couple more report. When I'm ready for a mortgage I'll use azeo.

[Anonymous]

Thats probably due to how many accounts you have. People with less accounts cannot say the same.

[Anonymous]

Agreed.