NFCU SSL

[Anonymous]

@Anonymous  Understood. The problem is that I'm rebuilding, so I only have the one card to add her to. Since she can request a rate reduction later, I think maybe she'd fair better getting her own and letting them age rather than waiting for my future cards to age. Or is it the same difference either way?

[Anonymous]

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@Anonymous wrote:

@AnonymousHave you read the Scoring Primer?

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I found this thread... hoping it was the correct one. There's so much great info and a lot to digest. I'm sure I'll be referring to it frequently. You guys are amazing. Hats off to you for putting all that work into something that benefits the community.

[Anonymous]

@Anonymous Yeah just let the one you’ve already added her to report and then let her get her own. There’s no need in waiting for you to accumulate age when she can be accumulating herself.

No that’s the wrong thread, that was our starting point. I’ll get you the right link. Hold on.

[Anonymous]

Here you go:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/General-Scoring-Primer-and-Version-8-Mas...

[Anonymous]

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@Anonymous wrote:
Here you go:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/General-Scoring-Primer-and-Version-8-Master-Thread-rev-5-17-20/m-p/6023348/highlight/true#M169679

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Now that's a primer! Much more polished and easier to follow. Well done.

It would be a good idea to put a link in the other one that points to the more extensive thread... and maybe close it if it's not being updated.

[Anonymous]

@Anonymous Thank you for the kind words and that’s a great idea I think I’ll try to do that!

[M_Smart007]

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@Anonymous wrote:
Here you go:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/General-Scoring-Primer-and-Version-8-Master-Thread-rev-5-17-20/m-p/6023348/highlight/true#M169679

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Thank You @Anonymous , for all your dedicated hard work

[Anonymous]

It’s my pleasure. This forum has taught me so much, it’s only appropriate that I give back. 😉 And I take pleasure in helping people, so it is fulfilling!

I’m just glad it’s appreciated and so well received. I’m grateful to all of our members. I definitely could not have done it without all the collective knowledge here. It has mostly derived from this forum and a little bit from my testing as well.

And while it may not be perfect, with the help of the community, we will make it the best it can be!

[Anonymous]

An incredable wealth of knowledge !!!!! I've learned so much in the very brief time I've been reading on this forum

In regards to this idea of SSL's , is there any benifit doing this when you have a mortgage (new 30 year refi 10/2019) as your only installment loan ? I have no car or personal loans on my reports, just closed mortgage accounts (previous refi's), and several revolvers (credit cards and one store card - Lowes).

Obviously, with a new mortgage refi, the B/L is pretty much 100%, but if a SSL is added to the mix with a B/L of >9% , will that give any boost to scores because of an aggregate  ?

[dragontears]

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@Anonymous wrote:

An incredable wealth of knowledge !!!!! I've learned so much in the very brief time I've been reading on this forum

In regards to this idea of SSL's , is there any benifit doing this when you have a mortgage (new 30 year refi 10/2019) as your only installment loan ? I have no car or personal loans on my reports, just closed mortgage accounts (previous refi's), and several revolvers (credit cards and one store card - Lowes).

Obviously, with a new mortgage refi, the B/L is pretty much 100%, but if a SSL is added to the mix with a B/L of >9% , will that give any boost to scores because of an aggregate  ?

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No a SSL will not help your scores, you only need 1 open loan and the mortgage balance most likely will swamp any other loan that is <9% since loan utilization is the total balances divided by the total original amounts.