800 With Only CCs

[Thomas_Thumb]

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@Varsity_Lu wrote:

@Thomas_Thumb 

I think I may see if I can get all of my wife and my accounts to post the same time-ish of the month. That'd be helpful in implementing the none-zero-but-also-not-all-used approach that seems to boost scores.

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I assume you mean "not all" zero vs "none" zero. It is beneficial to pay off most but not all balances to $0 prior to their respective statement cut dates. Many people designate a daily driver card that they always report a small balance on.

[Thomas_Thumb]

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@Zoostation1 wrote:

@Thomas_ThumbThere's a DP posted on another site where a single revolver profile got to 795 on EX8 at 3yrs AoOA, with TU8.  They started tracking TU8 at 6 months and later started tracking EX8 with no new accounts added.

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@Zoostation1 

Single card only with no open or closed installment loans on file and no AU revolving accounts open or closed? Classic Fico 8 score, not an industry option bankcard or auto version?

The file appears too thin for a score in the 790s at such a young file age. Could the poster be excluding closed accounts? An inactive file with only closed accounts becomes unscoreable. However, such accounts will help boost score once an open account becomes active.

We had a new to credit member, Subexistence, reach 800 at age 20 (thread dated 10-5-2018). His AAoA was under 3 years and he had no AU accounts. However, he deployed all the score boosting tricks at the start of his new credit journey at age 18. Strategy included: getting +3 credit cards (he had 5), a PLOC and a SSL that was paid down to below 9%. By age 20 his youngest account was over 12 months old. He also practiced AZE1.

He pulled a 3B report. Classic Fico scores above 800 included: EQ Fico 8 807, EQ Fico 9 825 and EX Fico 9 807.

Thread title: "Turned 20 and over 800 credit score without AU"

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Turned-20-and-over-800-credit-score-with...

[FicoMike0]

I find it handy to have some cards at end of month, some in middle. That way, if I want some float, I can get some. I also find large cls makes util management easy.

[AndySoCal]

@Varsity_Lu  Yes it is possible to hit 800+ with just credit cards. I have no installment loans my equifax FIco score 802 with  two new accounts this year.  

[Varsity_Lu]

@AndySoCal 

What is your oldest and average age?

[AndySoCal]

@Varsity_Lu  My oldest is my Discover Card that just turned 34 years old. My average age  of accounts is around 12 years

[coldfusion]

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@Varsity_Lu wrote:

@SouthJamaica 

So, leave one account unpaid until I get the "Your Statement is Ready" email from them. Then pay it? Honestly, I don't even know when my account statements happen because my account are at zero 99% of the time.

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This only works correctly if the 1 card in question is a Visa or Mastercard - doesn't work correctly with a store card or AMEX as the card reporting a balance - and the card is NOT issued by Chase.  Chase as a matter of policy updates mid-cycle when a card with a reported balance is paid down to $0 so isn't a reliable choice for this technique (AZE0 - All Zero Except One).

Regarding the afore-mentioned AU card penalty, there can be a small penalty on the order of 5 points +/- if you have at least 1 open card reporting you as an AU and no card that reports you as an AU is also currently reporting a balance.

[NoHardLimits]

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@coldfusion wrote:

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@Varsity_Lu wrote:

@SouthJamaica 

So, leave one account unpaid until I get the "Your Statement is Ready" email from them. Then pay it? Honestly, I don't even know when my account statements happen because my account are at zero 99% of the time.

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This only works correctly if the 1 card in question is a Visa or Mastercard - doesn't work correctly with a store card or AMEX as the card reporting a balance - and the card is NOT issued by Chase.  Chase as a matter of policy updates mid-cycle when a card with a reported balance is paid down to $0 so isn't a reliable choice for this technique (AZE0 - All Zero Except One).

Regarding the afore-mentioned AU card penalty, there can be a small penalty on the order of 5 points +/- if you have at least 1 open card reporting you as an AU and no card that reports you as an AU is also currently reporting a balance.

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Amex revolvers can be used to report a statement balance.  It's the charge cards (account type = open) which shouldn't be used.  P2 and I each have an Amex revolver with the other as an AU, and they work just fine for avoiding the "all zero" and "AU all zero" penalties.

[Varsity_Lu]

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@NoHardLimits wrote:

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@coldfusion wrote:

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@Varsity_Lu wrote:

@SouthJamaica 

So, leave one account unpaid until I get the "Your Statement is Ready" email from them. Then pay it? Honestly, I don't even know when my account statements happen because my account are at zero 99% of the time.

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This only works correctly if the 1 card in question is a Visa or Mastercard - doesn't work correctly with a store card or AMEX as the card reporting a balance - and the card is NOT issued by Chase.  Chase as a matter of policy updates mid-cycle when a card with a reported balance is paid down to $0 so isn't a reliable choice for this technique (AZE0 - All Zero Except One).

Regarding the afore-mentioned AU card penalty, there can be a small penalty on the order of 5 points +/- if you have at least 1 open card reporting you as an AU and no card that reports you as an AU is also currently reporting a balance.

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Amex revolvers can be used to report a statement balance.  It's the charge cards (account type = open) which shouldn't be used.  P2 and I each have an Amex revolver with the other as an AU, and they work just fine for avoiding the "all zero" and "AU all zero" penalties.

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Ok, I am completely lost. Explain it to me like I am a five year old.

[NoHardLimits]

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@Varsity_Lu wrote:

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@NoHardLimits wrote:

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@coldfusion wrote:

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@Varsity_Lu wrote:

@SouthJamaica 

So, leave one account unpaid until I get the "Your Statement is Ready" email from them. Then pay it? Honestly, I don't even know when my account statements happen because my account are at zero 99% of the time.

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This only works correctly if the 1 card in question is a Visa or Mastercard - doesn't work correctly with a store card or AMEX as the card reporting a balance - and the card is NOT issued by Chase.  Chase as a matter of policy updates mid-cycle when a card with a reported balance is paid down to $0 so isn't a reliable choice for this technique (AZE0 - All Zero Except One).

Regarding the afore-mentioned AU card penalty, there can be a small penalty on the order of 5 points +/- if you have at least 1 open card reporting you as an AU and no card that reports you as an AU is also currently reporting a balance.

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Amex revolvers can be used to report a statement balance.  It's the charge cards (account type = open) which shouldn't be used.  P2 and I each have an Amex revolver with the other as an AU, and they work just fine for avoiding the "all zero" and "AU all zero" penalties.

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Ok, I am completely lost. Explain it to me like I am a five year old.

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Mommy and Daddy have multiple credit cards.  Credit cards are small rectangles made of plastic or metal which let us buy things like toys, clothes, and food.  A sorcerer named FICO watches over what Mommy and Daddy do with their credit cards and proclaims some activities to be "naughty" and some to be "nice".  The sorcerer gives points for "nice" and takes away points for "naughty".  We can use all the cards every month and still be deemed nice.  But if we don't pay off most of the bills by Statement Eve, the sorceror will say we are "naughty" and punish us.  The sorceror sometimes also plays tricks on us and punishes us if we accidentally pay off ALL of the bills by Statement Eve and banishes us to "All Zero Land" until next Statement Day.  

To avoid being punished, we have to be careful about which cards to not pay off until after Statement Day.  We have to make sure at least one card isn't paid off.  But, that card can't be:

- a retail store card

- a card from bank named Chase

- special kinds of cards from a bank named Amex.  The special cards have colorful names like Green, Gold, Platinum, and Black (Centurion).  Those are special because the bank lets us buy all kinds of things every month as long as we promise we have enough cash to pay for everything really fast.

Another way that the sorcerer tries to trick us is to see if Daddy is allowed to use a card that belongs to Mommy, and also if Mommy is allowed to use a card that belongs to Daddy.  If it's allowed, then the "naughty" and "nice" decisions apply all over again.