TU FICO8 Score: 650
So here is my lineup:
Materion FCU: $0 of $1,000 (Was $3 of $1,000) before update
Capital One QS1: $0 of $3,000
CreditOne Amex: $0 of $2,000
Lowes/SynchronyBank: $39 of $6800 (Authorized User)
When my Materion FCU account updated from $3 to $0, I thought I'd see a AZEO boost, but no change when it reported $0. The only other thing is I have a Huntington Bank Personal Line of Credit reporting $367 of $500, even though this account has been paid off for nearly two months. Huntington Bank has not updated TransUnion since 3/7/2022 but has updated both Experian and Equifax on 4/7/2022...
Could Huntington Bank Personal Line of Credit be affecting my AZEO status? Or does AU Accounts not apply to AZEO?
I believe that AU accounts do count, although that small of a balance may report as 0% because that's less than 1% utilization.
Not sure about Huntington Bank Personal Line of Credit, but it probably does report like a credit card. I know PayPal Credit does.
@FinStar wrote:
@GoHooterGo wrote:When my Materion FCU account updated from $3 to $0, I thought I'd see a AZEO boost, but no change when it reported $0. The only other thing is I have a Huntington Bank Personal Line of Credit reporting $367 of $500, even though this account has been paid off for nearly two months. Huntington Bank has not updated TransUnion since 3/7/2022 but has updated both Experian and Equifax on 4/7/2022...
Could Huntington Bank Personal Line of Credit be affecting my AZEO status? Or does AU Accounts not apply to AZEO?
The Huntintgton PLOC is defnitely impacting some of the metrics. Although some reporting layouts may place it in a different section (i.e. other types of loans), it is a revolving line and factored as much as a revolvig credit card, for example.
And, as mentioned upthread, AU accounts are also factored in the metrics.
IF the Huntington PLOC reports this month🙄 I'll update whether or not I see a scoring change.
Drives me nuts that Experian and Equifax both updated last month but not TU since I've had it paid off for a while.
Thanks for posting! I believe your question has been answered. Although I'm grateful for your thread... I'm assuming that your PLOC is your "Stand By Cash" linked to your checking account? Which I too have a PLOC attached to mine as well. I've been sticking around with Huntington simply for this small credit line, for exactly what it says. However, since that time my score has increased dramatically and there is really no reason to concern myself with their guidelines to retain the account. And if they aren't even reporting as any other major lending/banking institution, I'm really considering switching up and dropping them.
Starting Score: 547EX
@moto4man wrote:Thanks for posting! I believe your question has been answered. Although I'm grateful for your thread... I'm assuming that your PLOC is your "Stand By Cash" linked to your checking account? Which I too have a PLOC attached to mine as well. I've been sticking around with Huntington simply for this small credit line, for exactly what it says. However, since that time my score has increased dramatically and there is really no reason to concern myself with their guidelines to retain the account. And if they aren't even reporting as any other major lending/banking institution, I'm really considering switching up and dropping them.
Yes, I'm talking about their Stand by Cash services.
It normally updates with no issues, but I think this is the first time it didn't update on TransUnion.
I love the stand by Cash feature, BUT this updating issue might just be a missed update by TU, but I never really paid that much attention to it until the last 2 months. EX and EQ, no issues.
My other issue is, my limit. I started off with a $1,000 line of credit, and now it's down to $350 (and it'll shrink more) even though I have never missed a payment or let them autodraft ( I paid it off long before then).
My Huntington Standby Cash (PLOC) updated to a $0 balance, for a whooping 1 point increase.
Now, 651 TU Fico 8 Score... I was hoping for a bigger increase for AZEO boost. But at least it's an increase.
What's also interesting is my TU Fico 9 dropped to 650 based on my Pre-Approval Forum for GM Marcus application denial. Also checked my MyFico 3 bureau reports dated 5/9/2022, and my TU Fico 9 was still 669.
The only changes that have happned since my May 1st app and May 12th app is Huntington PLOC balance was finally reported as $0. The reasons for denial were completely different this time also...
May 1, 2022 (669)
Thanks for your interest in the My GM Rewards Card™. Goldman Sachs Bank USA has reviewed your request and we're sorry to let you know that is was not approved because: |
|
May 12, 2022 (650)
Thanks for your interest in the My GM Rewards Card™. Goldman Sachs Bank USA has reviewed your request and we're sorry to let you know that is was not approved because: |
|
No new public record or collection other then a medical collection from 2 years ago that I will have off soon.
Too many accounts with balances???
I have two "new" accounts, CapitalOne and CreditOne that were opened 6 months ago.
So if nothing else changed, why the score drop for TU Fico 9? Lowes is an AU account, and is my only balance for a revolving account.
4 Credit Card Revolving Accounts - $39 Balance - 1 Account
1 Personal Line of Credit Account - $0 Balance
2 Car Loans - (Ally Financial was paid off a few days ago, and was a charge off from a loan I co-signed on), and the other is open $8,440
2 Mortgages - Both Open
I'm hoping it's some kind of issue with the AU account having a balance and none of my personal accounts having a balance, as Capitalone will be reporting soon, and I can put a small balance on it so it'll report something if I choose to test this out.
Ideas?
@HeavenOhio wrote:@GoHooterGo, my bet is that the score decrease is due to the lack of a positive balance on a card for which you're the primary user.
That's what I'm thinking. My Capital One QS1 will be reporting in the next r-6 days, so I'm going have it report a $30 balance (1%).
I'll update when it reports.