@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:@Anonymous I just wanted to give a quick datapoint. My Chase AU card that reports as “Joint”, was paid to $0 and hit TU today. My TU8 went up +6 points as per an alert from MF. My CO that keeps updating “allegedly” will report a $0 balance tomorrow and my last remaining card with a balance was paid down big, dropping it’s UT from 88% to 68% which combined with the Chase payoff brings by aggregate UT to 28%. I’ll post another update when the next changes hit. Hopefully they hit on separate days so I can quantify the changes individually.
Fingers are all crossed for you! I truly hope you see a good change in your mortgage scores, you have been working so hard on this!
Please keep us posted as it would be really nice to see how CO balances work in regards to util.
@Anonymous that's not going to tell us whether or not a chargeoff is counting for utilization or not though. Just because there's a score change doesn't tell us which category it comes from, unless we know it crosses a known threshold.
@Anonymous what was the utilization before and after on the Chase, individual and aggregate? And do you have the data points on the other one? and yes congratulations I hope you get a lot more!
@Anonymous The Chase AU went from 44% UT to 0. The CapOne was at 88% and once it reports, it’ll be at 68%. The CapOne is now my only one reporting a balance, the other 5 open are all at $0.
I’m wondering if the points have to do with the % of cards reporting a balance. Last month that Chase AU was at 51% which I paid down to 44% and the CapOne was at 100% and I paid down to 88% and during that same reporting period I had a BoA go from 29% to $0. All those things combined only got me like a few points in Fico 8.
@Anonymous we do know utilization is weighted far less heavily in dirty cards, So you would get fewer points for bringing down utilization. I don't know if that holds true for number of cards with a balance, but that's a good question. I wonder if @Thomas_Thumb has any insight?
I believe # of cards with a balance plays a part, too, as I did AZEO prior to my NFCU secured app and believe I gained maybe 5-15 pts, but now that I have 3 out of 4 cards with a balance, I lost those points. Well that and increased utilization reporting. I am trying to get back to AZEO or close to it and see how my scores react. Interestingly enough, EX is the least sensitive, while EQ and TU are far more sensitive (they're the ones that vary from 10-15 pts, while EX only varies plus or minus 5 points).
@Anonymous wrote:
@OmarGB9 wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:@Anonymous I just wanted to give a quick datapoint. My Chase AU card that reports as “Joint”, was paid to $0 and hit TU today. My TU8 went up +6 points as per an alert from MF. My CO that keeps updating “allegedly” will report a $0 balance tomorrow and my last remaining card with a balance was paid down big, dropping it’s UT from 88% to 68% which combined with the Chase payoff brings by aggregate UT to 28%. I’ll post another update when the next changes hit. Hopefully they hit on separate days so I can quantify the changes individually.
Fingers are all crossed for you! I truly hope you see a good change in your mortgage scores, you have been working so hard on this!
Please keep us posted as it would be really nice to see how CO balances work in regards to util.
@Anonymous that's not going to tell us whether or not a chargeoff is counting for utilization or not though. Just because there's a score change doesn't tell us which category it comes from, unless we know it crosses a known threshold.
@Anonymous what was the utilization before and after on the Chase, individual and aggregate? And do you have the data points on the other one? and yes congratulations I hope you get a lot more!
@Anonymous The Chase AU went from 44% UT to 0. The CapOne was at 88% and once it reports, it’ll be at 68%. The CapOne is now my only one reporting a balance, the other 5 open are all at $0.
I’m wondering if the points have to do with the % of cards reporting a balance. Last month that Chase AU was at 51% which I paid down to 44% and the CapOne was at 100% and I paid down to 88% and during that same reporting period I had a BoA go from 29% to $0. All those things combined only got me like a few points in Fico 8.
@Anonymous we do know utilization is weighted far less heavily in dirty cards, So you would get fewer points for bringing down utilization. I don't know if that holds true for number of cards with a balance, but that's a good question. I wonder if @Thomas_Thumb has any insight?
I believe # of cards with a balance plays a part, too, as I did AZEO prior to my NFCU secured app and believe I gained maybe 5-15 pts, but now that I have 3 out of 4 cards with a balance, I lost those points. Well that and increased utilization reporting. I am trying to get back to AZEO or close to it and see how my scores react. Interestingly enough, EX is the least sensitive, while EQ and TU are far more sensitive (they're the ones that vary from 10-15 pts, while EX only varies plus or minus 5 points).
@OmarGB9 when you did AZEO and gained those points, did your utilization cross any thresholds, individual or aggregate? Because the second data point of course is conflated with the increased utilization you said.
and yes you are absolutely correct that it is far less heavily weighted at EX, it's almost nonexistent. I'm shocked that you got 5 points out of it, unless it was going from 100% to less maybe? And you're on a dirty card too, correct? If so is it delinquency or PR card?
@AnonymousI'll have to go back and look and do some calculations, but I believe I did cross a few thresholds I guess. At least 8.9%, 28.9% and 48.9% in some cards. On others maybe just the first 2 thresholds. I will report back sometime tomorrow.
That's interesting, I did not know that EX was less sensitive to util changes than the other bureaus. I say 5 points, but I'm estimating. May have been less. I'll find out for sure tomorrow. For sure though, I was never at 100% util. Maybe >68.9%, but not maxed. And yes, on a dirty scorecard. Not sure which I'd be classified under though. I have 2 unpaid COs and 1 collection showing.