AZEO

[Anonymous]

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

Whether or not the AU helps on version 8 & 9 depends on whether the anti-abuse algorithm flags it, but it will help with the mortgage scores.

As for that loan officers advise it, it is not the best for all profiles. They are wrong for some people if they advise that to all. While an old thick profile might do fine with two credit cards reporting, a young thin file would not do as well.

There is evidence that EX2 counts closed revolvers in the number/percentage of revolvers with a balance metric. I have no idea whether it applies to any other version.

That close revolver with the balance, is it showing delinquent? And is it showing the credit limit?

AZEO as described by @AllZero is best to optimize any profile. If you had more cards, you would realize more of a gain, version depending. Don’t go get more cards right now though because the new accounts would penalize you worse than the help of having more cards, at least while they’re new.

Now, if you have time before you have anything you have to do, at least a year, then yes, add some cards.

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@Anonymous 

Yes, it is red and showing as delinquent. 

On my FiCO 3B report, the payment status on the closed revolver is as follows:

EQ - Pays account as agreed
TU - Paid or paying as agreed
EXP - Current account/was delinquent 60 days past due date

In 2018, I had the following 3 late payments: 1. 30D - 8/18, 2. 60D - 9/18, 3. 30D - 10/18

Yes, it's showing the credit limit of $10,600 and showing the credit utilization of 33%.

Ok, regarding the cards. I don't have any inquiries now and definitely want to increase my limits since they are so low and prepare to start building business credit, but would like to improve my personal profile being in a position for my business cards in the future. Unfortunately, my $750 card is with Open Sky so of course I will not get an increase on that car...you live and learn! So I definitely want a few more cards to overall build my profile. I haven't applied for anything in 3 years. I wish I had, but again, I've lived and I've learned. & still learning...

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You should've experienced scorecard reassignment the first of this month when that 60 day late aged to 2 years. On the mortgage scores, you should've went to a clean scorecard and I believe on version 8 & 9, you go to a mature delinquency card. 

So your scores may have changed quite a bit maybe the first of this month, you probably went up on 8 and 9, you may have went down on 542.

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Oh ok. This is really interesting! I was wondering about the scorecards! Are there scorecards for each bureau or for each person? So I'm asking because on TU & EXP, the Discover lates are my last delinquencies. However, on my Equifax, I have a C/O that has not come off yet. The date on the report is 2/2021. 

So are you saying the change from the first of the month should reflect in my updated scores next month or I should have already seen the scores change? I pulled my FICO 3B on 9/14/20, so I'm not sure if I already saw the change or if I'll see it next month. 

Everything that you're explaining is also helping me see why my scores are so different! My Eq on my FICO 5,4,2 is 10 points higher than my EXP that does not have a c/o on it! It's just interesting to...all the details of it! 

FICO 5,4,2

TU - 715
EXP - 630 
EQ - 640-
FICO 8

TU - 713
EXP - 708
EQ - 666

FICO 9

TU - 730
EXP -  737
EQ - 663 

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The scorecard assignment goes by the most recent delinquency, if the chargeoff is paid, it will go from the date it was paid; if it's not paid, it'll age off soon .

You really need to read the Scoring Primer linked at the top of my signature @AllZero recommended, it will explain scorecard basics to you at the bottom of post one. It'll also educate you on most of the matters regarding scoring here. 

No, the score change would've already occurred. 

The same algorithm and scorecards for each version are used all three bureaus; however each variant is customized at each bureau based on the datasets there which are used to generate the respective scorecards there. 

In other words they take years of data and from that they use logistic regression to determine patterns and build scorecards for sub-populations.

They do that the same at each bureau, but since the data is slightly different at each bureau, the resulting scorecards are slightly different at each bureau, causing the weighting to be different for some metrics.

you will see a nice boost when the chargeoff comes off is it paid or unpaid?

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Ok. Thanks for those details. I'm definitely going to read the Primer. 

Yes, I'm looking forward to the boost and getting closer to a clean report again. It is unpaid. 

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Unpaid? You're going to see a nice boost!!!! 😊

[credit8502020]

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@credit8502020 wrote:

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@Anonymous wrote:

---

@credit8502020 wrote:

---

@Anonymous wrote:

---

@credit8502020 wrote:

---

@Anonymous wrote:

Whether or not the AU helps on version 8 & 9 depends on whether the anti-abuse algorithm flags it, but it will help with the mortgage scores.

As for that loan officers advise it, it is not the best for all profiles. They are wrong for some people if they advise that to all. While an old thick profile might do fine with two credit cards reporting, a young thin file would not do as well.

There is evidence that EX2 counts closed revolvers in the number/percentage of revolvers with a balance metric. I have no idea whether it applies to any other version.

That close revolver with the balance, is it showing delinquent? And is it showing the credit limit?

AZEO as described by @AllZero is best to optimize any profile. If you had more cards, you would realize more of a gain, version depending. Don’t go get more cards right now though because the new accounts would penalize you worse than the help of having more cards, at least while they’re new.

Now, if you have time before you have anything you have to do, at least a year, then yes, add some cards.

---

@Anonymous 

Yes, it is red and showing as delinquent. 

On my FiCO 3B report, the payment status on the closed revolver is as follows:

EQ - Pays account as agreed
TU - Paid or paying as agreed
EXP - Current account/was delinquent 60 days past due date

In 2018, I had the following 3 late payments: 1. 30D - 8/18, 2. 60D - 9/18, 3. 30D - 10/18

Yes, it's showing the credit limit of $10,600 and showing the credit utilization of 33%.

Ok, regarding the cards. I don't have any inquiries now and definitely want to increase my limits since they are so low and prepare to start building business credit, but would like to improve my personal profile being in a position for my business cards in the future. Unfortunately, my $750 card is with Open Sky so of course I will not get an increase on that car...you live and learn! So I definitely want a few more cards to overall build my profile. I haven't applied for anything in 3 years. I wish I had, but again, I've lived and I've learned. & still learning...

---

You should've experienced scorecard reassignment the first of this month when that 60 day late aged to 2 years. On the mortgage scores, you should've went to a clean scorecard and I believe on version 8 & 9, you go to a mature delinquency card. 

So your scores may have changed quite a bit maybe the first of this month, you probably went up on 8 and 9, you may have went down on 542.

---

Oh ok. This is really interesting! I was wondering about the scorecards! Are there scorecards for each bureau or for each person? So I'm asking because on TU & EXP, the Discover lates are my last delinquencies. However, on my Equifax, I have a C/O that has not come off yet. The date on the report is 2/2021. 

So are you saying the change from the first of the month should reflect in my updated scores next month or I should have already seen the scores change? I pulled my FICO 3B on 9/14/20, so I'm not sure if I already saw the change or if I'll see it next month. 

Everything that you're explaining is also helping me see why my scores are so different! My Eq on my FICO 5,4,2 is 10 points higher than my EXP that does not have a c/o on it! It's just interesting to...all the details of it! 

FICO 5,4,2

TU - 715
EXP - 630 
EQ - 640-
FICO 8

TU - 713
EXP - 708
EQ - 666

FICO 9

TU - 730
EXP -  737
EQ - 663 

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The scorecard assignment goes by the most recent delinquency, if the chargeoff is paid, it will go from the date it was paid; if it's not paid, it'll age off soon .

You really need to read the Scoring Primer linked at the top of my signature @AllZero recommended, it will explain scorecard basics to you at the bottom of post one. It'll also educate you on most of the matters regarding scoring here. 

No, the score change would've already occurred. 

The same algorithm and scorecards for each version are used all three bureaus; however each variant is customized at each bureau based on the datasets there which are used to generate the respective scorecards there. 

In other words they take years of data and from that they use logistic regression to determine patterns and build scorecards for sub-populations.

They do that the same at each bureau, but since the data is slightly different at each bureau, the resulting scorecards are slightly different at each bureau, causing the weighting to be different for some metrics.

you will see a nice boost when the chargeoff comes off is it paid or unpaid?

---

Ok. Thanks for those details. I'm definitely going to read the Primer. 

Yes, I'm looking forward to the boost and getting closer to a clean report again. It is unpaid. 

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Thanks again @AllZero & @Anonymous Know I really appreciate your help. 

[Anonymous]

@credit8502020 Absolutely but report back with your successes, we love to hear those as well!

[AllZero]

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@credit8502020 wrote:
Thanks again @AllZero & @Anonymous Know I really appreciate your help. 

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@credit8502020  You are welcome.

Read. Read as much as you can. Once you are done reading, take a break. Then, read some more. The more you empower yourself with knowledge, the better off you will be.

As yo have been doing, when a client ask you questions, research it. Find the answers for them. Thus, in return you are learning too. Not only does it help them but it is helping you in return.

[credit8502020]

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@Anonymous wrote:

---

@credit8502020 wrote:

---

@Anonymous wrote:

---

@credit8502020 wrote:

---

@Anonymous wrote:

---

@credit8502020 wrote:

---

@Anonymous wrote:

Whether or not the AU helps on version 8 & 9 depends on whether the anti-abuse algorithm flags it, but it will help with the mortgage scores.

As for that loan officers advise it, it is not the best for all profiles. They are wrong for some people if they advise that to all. While an old thick profile might do fine with two credit cards reporting, a young thin file would not do as well.

There is evidence that EX2 counts closed revolvers in the number/percentage of revolvers with a balance metric. I have no idea whether it applies to any other version.

That close revolver with the balance, is it showing delinquent? And is it showing the credit limit?

AZEO as described by @AllZero is best to optimize any profile. If you had more cards, you would realize more of a gain, version depending. Don’t go get more cards right now though because the new accounts would penalize you worse than the help of having more cards, at least while they’re new.

Now, if you have time before you have anything you have to do, at least a year, then yes, add some cards.

---

@Anonymous 

Yes, it is red and showing as delinquent. 

On my FiCO 3B report, the payment status on the closed revolver is as follows:

EQ - Pays account as agreed
TU - Paid or paying as agreed
EXP - Current account/was delinquent 60 days past due date

In 2018, I had the following 3 late payments: 1. 30D - 8/18, 2. 60D - 9/18, 3. 30D - 10/18

Yes, it's showing the credit limit of $10,600 and showing the credit utilization of 33%.

Ok, regarding the cards. I don't have any inquiries now and definitely want to increase my limits since they are so low and prepare to start building business credit, but would like to improve my personal profile being in a position for my business cards in the future. Unfortunately, my $750 card is with Open Sky so of course I will not get an increase on that car...you live and learn! So I definitely want a few more cards to overall build my profile. I haven't applied for anything in 3 years. I wish I had, but again, I've lived and I've learned. & still learning...

---

You should've experienced scorecard reassignment the first of this month when that 60 day late aged to 2 years. On the mortgage scores, you should've went to a clean scorecard and I believe on version 8 & 9, you go to a mature delinquency card. 

So your scores may have changed quite a bit maybe the first of this month, you probably went up on 8 and 9, you may have went down on 542.

---

Oh ok. This is really interesting! I was wondering about the scorecards! Are there scorecards for each bureau or for each person? So I'm asking because on TU & EXP, the Discover lates are my last delinquencies. However, on my Equifax, I have a C/O that has not come off yet. The date on the report is 2/2021. 

So are you saying the change from the first of the month should reflect in my updated scores next month or I should have already seen the scores change? I pulled my FICO 3B on 9/14/20, so I'm not sure if I already saw the change or if I'll see it next month. 

Everything that you're explaining is also helping me see why my scores are so different! My Eq on my FICO 5,4,2 is 10 points higher than my EXP that does not have a c/o on it! It's just interesting to...all the details of it! 

FICO 5,4,2

TU - 715
EXP - 630 
EQ - 640-
FICO 8

TU - 713
EXP - 708
EQ - 666

FICO 9

TU - 730
EXP -  737
EQ - 663 

---

The scorecard assignment goes by the most recent delinquency, if the chargeoff is paid, it will go from the date it was paid; if it's not paid, it'll age off soon .

You really need to read the Scoring Primer linked at the top of my signature @AllZero recommended, it will explain scorecard basics to you at the bottom of post one. It'll also educate you on most of the matters regarding scoring here. 

No, the score change would've already occurred. 

The same algorithm and scorecards for each version are used all three bureaus; however each variant is customized at each bureau based on the datasets there which are used to generate the respective scorecards there. 

In other words they take years of data and from that they use logistic regression to determine patterns and build scorecards for sub-populations.

They do that the same at each bureau, but since the data is slightly different at each bureau, the resulting scorecards are slightly different at each bureau, causing the weighting to be different for some metrics.

you will see a nice boost when the chargeoff comes off is it paid or unpaid?

---

Ok. Thanks for those details. I'm definitely going to read the Primer. 

Yes, I'm looking forward to the boost and getting closer to a clean report again. It is unpaid. 

---

Unpaid? You're going to see a nice boost!!!! 😊

---

Yes!!! I really want to fight to get it removed sooner rather than later, but I've decided to not waste my energy there and just focus on building by doing other things in the meantime. I've read how Equifax can make things worse. I attempted to call and made minimal efforts to try for an Early Exemption, but figured I wouldn't waste any more time there. It wasn't until later though that I realized that in 2/14, which they have as my first date of delinquency, there was a 120 day late, not sure how my first date of delinquency could be 120 days..considering that's 4 months. BUT maybe the explanation is in the PRIMER! So I'm just going to keep reading and learning! LOL! 

[credit8502020]

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@Anonymous wrote:

@credit8502020 Absolutely but report back with your successes, we love to hear those as well!

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Definitely! I've been using a spreadsheet to track my specific steps. I'm definitely on a mission. I thank God for what I've been through and what I'm learning and can pass on to others. Even though I had a lost of income and it was tough realizing how much debt I was in and could not pay years ago, I hope others will learn from my experiences and wrong turns I took. This type of information is really interesting and exciting to me! I will definitely be posting my successes and hopefully they will encourage others to keep praying, keep pressing, keep putting in the work, keep asking questions of people who are smarter than you and know more than you and keep giving back to others! This type of stuff really does need to be taught in schools throughout the country and world. In the meantime, we will help do that work!!! 

[Anonymous]

The payment grid is probably wrong. You should check if you can the real date.

Payment grid isn’t what it goes by tho, goes by date in field. Come back after you read.

[credit8502020]

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@AllZero wrote:

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@credit8502020 wrote:
Thanks again @AllZero & @Anonymous Know I really appreciate your help. 

---

@credit8502020  You are welcome.

Read. Read as much as you can. Once you are done reading, take a break. Then, read some more. The more you empower yourself with knowledge, the better off you will be.

As yo have been doing, when a client ask you questions, research it. Find the answers for them. Thus, in return you are learning too. Not only does it help them but it is helping you in return.

---

It makes such a difference! I started a spreadsheet to help clients with steps to take when rebuilding. So many of them have the funds to pay down debt, etc. but are afraid because of videos that tell you to not pay collections, etc. I enjoy helping people with this information and yes, you're right I'm definitely learning too and it is helping me as well and I'm enjoying the process!!! 

[credit8502020]

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@Anonymous wrote:
The payment grid is probably wrong. You should check if you can the real date.

Payment grid isn’t what it goes by tho, goes by date in field. Come back after you read.

---

Ok. Gotcha! Will do.

[credit8502020]

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@credit8502020 wrote:

---

@Anonymous wrote:
The payment grid is probably wrong. You should check if you can the real date.

Payment grid isn’t what it goes by tho, goes by date in field. Come back after you read.

---

Ok. Gotcha! Will do.

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@Anonymous @AllZero 

So I'm back with some updates and data points. For ease, I decided to show the specific changes,  since I last posted

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UPDATES:
FICO 8

TU - 713, NOW - 731

EXP - 708, NOW - 714

EQ - 666, Same (Still has C/O reporting)

1 TU Inquiries - 9/26/20

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My AU Home Depot Account (I really thank God for my Mother and her adding me to her Home Depot Card.)

$3700 - Posted on 9/23/20 *** Saw a 16 point (TU) & 6 point (EXP) increase!!! 

*This not only added another account, but also added my highest tradeline and helped with my

aggregate utilization since I have a $3400 closed Discover card. While I can not prove this, there is a good

chance that it helped me get the limit that I was able to get on my next card...

I applied for and got a NFCU Cash Rewards Card for $18,000! Thank you Jesus!!! I'm really excited about this card for more than one reason. One reason, however, is it is the highest credit limit I've had on one single card. I've learned so much on this journey and look forward to making more and even better strategic moves. If I read the Primer correctly, because of the lates, I still have a dirty scorecard and adding new accounts will not penalize me in the same way as if I had a clean scorecard. While I'm not looking to go on a credit card spree, I would much rather get one more credit card now and have the HPs fall off around the same time before I wait another 6 months to get another card. I have some rather large expenses (For my Mother's birthday, Tuition, Potential Home Renovation, etc.) coming up between now and the end of the year and I would much rather benefit from those on my credit cards than not. In about 6 months, I'm going to be preparing to apply for business credit cards as well because my business expenses are also going to increase and I'd rather put them on my credit card than pay cash for them.

Further, my I have an Open Sky credit card with a $750 balance on it and want to prepare to eventually get rid of the card.

Would it be helpful to add my Mother to my NFCU card? I just want to make sure adding her won't hurt her scores in any way. Although I thought AU cards are most helpful with great history/length, I thought maybe it could still help with lowering her utilization even more. However, I did not want to overlook something else that may not be as helpful if I add her. Although she definitely has better scores and history than I (mid 700s), NFCU only approved her for $3,000 and I am almost certain it's because she had just joined. The only negatives she had on her report was unfortunately because of my lates on my student loan and the joint Discover card that she added me on. So I'm clearly looking for ways to make her scores get as high as possible as quickly as possible. She would have almost assuredly been in the 800s without my lates. Please share any advice for how I could help increase her scores. I helped her apply for 2 credit cards. $3,000 with NFCU and $5,000 with another credit union in August. In 91 days, I'm going to request a CLI increase on the NFCU card. She only has 1 inquiry on each bureau & EXP inquiry will fall off in Nov 2020. I know one of the things that was impacting her was a higher utilization amount because I have the closed Discover card with the balance I'm paying. It would be great to be able to help her get a larger bank card. We were looking at Chase, but I didn't want to risk it because of the string of lates I had from 8/18, 9/18 & 10/18. Any suggestions for banks that are not as sensitive to "lates"?

Well, you've now been updated!!! LOL! I really thank God for this journey and for you being on it with me as well.

Now I'm off to setting up AZEO for this month to see how it impacts my scores. However, I want to get clarity after reading this in the Primer.

***"A note of caution about your AZEO card. Do use a national bankcard. Avoid retail cards, credit union cards, and charge cards, as they can cause unintended consequences."***

Question 1: Home Depot is considered a retail card correct? Therefore, will this have a negative impact if it reports a small balance?

Question 2: Are you suggesting by the comment above that I can never use my NFCU Visa to show a balance as a part of the AZEO method?

Not sure this scenario is still right after reading the Primer...

1. Capitol One - Less than 4.5% (As was mentioned to me earlier in the thread)
2. Open Sky Card - $0
3. AU on Home Depot Card - Small Balance - $16

***NFCU of course is not in the equation because it won't report this month yet.***

Thanks again!