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Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts

CassieCard
Senior Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@dunn2500 wrote:

 what is optimum percentage you want for CC balance for score and what do you not want to go lower than?....... 5-9% is that what i am reading correctly?........i know about AZEO but i have only 1 at moment so......i went under 1% one month and got nailed for it


You didn't lose points for lowering total balances. That's always a good thing, as long as it's not $0. Zero total balance can be -15 to -20 points!

 

It doesn't always work to give a general number, because someone might have a single card with a $200 limit, and even $20 is 10% of that. Someone might also have a total limit of $200,000 where 1% is $2,000 - the 1% isn't going to save them from losing a lot of points on mortgage scores due to the higher dollar balance, for example.

 

You could always pay down to $5 before statement closing.

Message 11 of 73
BrutalBodyShots
Super Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@CassieCard wrote:

Then EX scorable inquiries go to 0 on February 16th, and on March 1st I will be at AAoA 2yr 0mo. I'm hoping for a triple play in score gains over the next 6 weeks.

 


Is AAoA of 24 months a known/documented threshold point?

 

Most of the AAoA thresholds that I've seen discussed have been at half-year increments, like 66 months, 78 months, 80 months for example.  Did you see anything at 18 months?

Message 12 of 73
Birdman7
Super Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@CassieCard wrote:

@Remedios wrote:

 

I'm very curious if it's because of proximity to scorecard reassignment, or if loan did reset age of youngest one (I won't find out till March 1st)


We need more data points on loans and how they affect AoYA. @Birdman7 didn't see the reset, but people will inevitably say "well, that's just one profile". Your observation is going to be interesting.


@CassieCard loans definitely affect AOYA.  But on version 8, myself and many others have found that loans don't cause scorecard reassignment, hence AoYRA. However they may do so on 5/4/2. 

you're now in one of the most popular Scorecards, Clean/thick/mature/new account, lol. I told you, you graduated, you're mature now, 😉.

 

So that means that should apply to just about everybody. And keep in mind your AAOA wasn't that high to begin with, so you didn't have that far to fall when you got those new accounts. What matters is how far you move, imho. 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 13 of 73
CassieCard
Senior Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@BrutalBodyShots wrote:

@CassieCard wrote:

Then EX scorable inquiries go to 0 on February 16th, and on March 1st I will be at AAoA 2yr 0mo. I'm hoping for a triple play in score gains over the next 6 weeks.

 


Is AAoA of 24 months a known/documented threshold point?

 

Most of the AAoA thresholds that I've seen discussed have been at half-year increments, like 66 months, 78 months, 80 months for example.  Did you see anything at 18 months?


I'm skeptical of that 24 month AAoA threshold. Member ABCD posted that he saw +20pts on a number of profiles he was following (people he knew, people in some forum, I don't know).

 

I saw a decent jump at AAoA 1yr 6mo on all 3 CRA older models (5,4,2, auto and bankcard included) and TU8.  ( Link )

 

Maybe it's worth something on the 9's or only 1 CRA.....I'll find out soon, but not really counting on it.

Message 14 of 73
CassieCard
Senior Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@Birdman7 wrote:

@CassieCard wrote:

@Remedios wrote:

 

I'm very curious if it's because of proximity to scorecard reassignment, or if loan did reset age of youngest one (I won't find out till March 1st)


We need more data points on loans and how they affect AoYA. @Birdman7 didn't see the reset, but people will inevitably say "well, that's just one profile". Your observation is going to be interesting.


@CassieCard loans definitely affect AOYA.  But on version 8, myself and many others have found that loans don't cause scorecard reassignment, hence AoYRA. However they may do so on 5/4/2. 

you're now in one of the most popular Scorecards, Clean/thick/mature/new account, lol. I told you, you graduated, you're mature now, 😉.


Thanks for the memory refresh. So @Remedios should get the EX2 update right away, and then we'll know more.

 

I feel like an impostor if I change my signature to 'thick/mature'....lol I mean, it doesn't seem right since I've only had credit cards for 2 years.

Message 15 of 73
Remedios
Moderator

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@CassieCard wrote:

@BrutalBodyShots wrote:

@CassieCard wrote:

Then EX scorable inquiries go to 0 on February 16th, and on March 1st I will be at AAoA 2yr 0mo. I'm hoping for a triple play in score gains over the next 6 weeks.

 


Is AAoA of 24 months a known/documented threshold point?

 

Most of the AAoA thresholds that I've seen discussed have been at half-year increments, like 66 months, 78 months, 80 months for example.  Did you see anything at 18 months?


I'm skeptical of that 24 month AAoA threshold. Member ABCD posted that he saw +20pts on a number of profiles he was following (people he knew, people in some forum, I don't know).

 

I saw a decent jump at AAoA 1yr 6mo on all 3 CRA older models (5,4,2, auto and bankcard included) and TU8.  ( Link )

 

Maybe it's worth something on the 9's or only 1 CRA.....I'll find out soon, but not really counting on it.


ABCD posted a lot of things ...from Facebook "credit repair *help* group" 

I wouldn't grain of salt it, I'd dead sea those posts. 

Message 16 of 73
Birdman7
Super Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@CassieCard wrote:

@Birdman7 wrote:

@CassieCard wrote:

@Remedios wrote:

 

I'm very curious if it's because of proximity to scorecard reassignment, or if loan did reset age of youngest one (I won't find out till March 1st)


We need more data points on loans and how they affect AoYA. @Birdman7 didn't see the reset, but people will inevitably say "well, that's just one profile". Your observation is going to be interesting.


@CassieCard loans definitely affect AOYA.  But on version 8, myself and many others have found that loans don't cause scorecard reassignment, hence AoYRA. However they may do so on 5/4/2. 

you're now in one of the most popular Scorecards, Clean/thick/mature/new account, lol. I told you, you graduated, you're mature now, 😉.


Thanks for the memory refresh. So @Remedios should get the EX2 update right away, and then we'll know more.

 

I feel like an impostor if I change my signature to 'thick/mature'....lol I mean, it doesn't seem right since I've only had credit cards for 2 years.


@CassieCard but it goes from oldest account, not oldest credit card and on version 8, 3 years is the demarcation, and 2 years is the demarcation point on 5/4/2. And remember, you helped me find the data showing 4 is thick on version 9. we can't be positive for the others yet, but can't be much difference.

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 17 of 73
dunn2500
Frequent Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts

thanks, actually it was couple of times i had $1 balance on statement and my points went down.....nothing else changed ....on reverse side when i had $30 balnce multiple times my score seemed to go up.....also i had $0 balance cpl of times before i understood difference between statement and due date....that wasnt good for sure......

 

how do you guys link up all your credit info at bottom of posts?

Message 18 of 73
CassieCard
Senior Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts


@dunn2500 wrote:

thanks, actually it was couple of times i had $1 balance on statement and my points went down.....nothing else changed ....on reverse side when i had $30 balnce multiple times my score seemed to go up.....also i had $0 balance cpl of times before i understood difference between statement and due date....that wasnt good for sure......

@dunn2500: Are you saying that your card lender issued a statement for $1, that showed up on the report, and you lost points?

 

Many people have reported that a very small balance like $1 or less than $5 might be 'forgiven' temporarily - the lender will skip reporting that month and just carry the small balance over to the next statement without interest on it. They ended up with the All Zero penalty I mentioned before (-15 to -20 or more).

 

The lowest I've had reported was $35 on a single card, and it was fine for avoiding the penalty, as expected. As long as you aren't applying for anything soon, there really isn't a need to keep it so low all the time. I want all 4 of my cards reporting a reasonable balance that I pay to zero right after statement closing.

 

 

how do you guys link up all your credit info at bottom of posts?


See this link.

 

Mine and @Birdman7 's signatures are unique on the forum, because I wrote the software that generates them.

Message 19 of 73
dunn2500
Frequent Contributor

Re: Accounts with Balances: 2 ➟ 4 (of 4) = EX2 -17pts

yeah exactly......i reported a $1 balance and got hit with penalty.......$300 limit, i am just using the card for score, i will report a $10 balance instead of my normal $30 in a few days and see what happens..

Message 20 of 73
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