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AZEO and Mortgage FICO Score

UpAndComing74
Regular Contributor

AZEO and Mortgage FICO Score

I am looking to close on a home in March 2021.  I am trying to get my MID Score to 700 for a better rate. The initial pull was a 701 and then I dropped to a 699 after 3 new Credit Cards were opened in 07/2020. Silly me! So now I am trying to increase it.  Ive heard of AZEO and I was there until Cap 1 posted the Annual Fee that I was unaware of.  My question is, does that one card reporting cause a drop in score since I am no longer AZEO.  I went from a single Discover card reporting $17 to Two CAP 1 cards reporting $43 and $39.  SHould I get my 6 points back once I pay the CAP 1 cards and let the Discover post $17 again.   Discover CL-$1000.   Cap1 CL-$750. Cap1 CLSidebySide.jpgScreen Shot 2020-11-08 at 5.51.09 AM.png-$1000


Starting Score: 614
Current Score: 614
Goal Score: 700


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CassieCard
Senior Contributor

Re: AZEO and Mortgage FICO Score


@UpAndComing74 wrote:

I am looking to close on a home in March 2021.  I am trying to get my MID Score to 700 for a better rate. The initial pull was a 701 and then I dropped to a 699 after 3 new Credit Cards were opened in 07/2020.

You're going to see some more score gains on January 1st at 6 months since opening a new account. (AoYRA, Age of Youngest Revolving Account)

 

Just don't apply for anything and let it age gracefully. Smiley Happy

 

My question is, does that one card reporting cause a drop in score since I am no longer AZEO.  I went from a single Discover card reporting $17 to Two CAP 1 cards reporting $43 and $39.  SHould I get my 6 points back once I pay the CAP 1 cards and let the Discover post $17 again.   Discover CL-$1000.   Cap1 CL-$750. Cap1 CL-$1000


You'll get them back. It looks like you went from 1 of 7 (14% of accts w/bal) to 2 of 7 (28% of accts w/bal) and crossed either a 20% or 25% threshold for that on several scores.

28 FICO Scores + FICO RESilience Index + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of Resilience: EQ FICO Resilience Index Score Leaderboard (58 People!)

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