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All Zero Penalty is Painful!! *sad face*

Ceewin
Established Member

All Zero Penalty is Painful!! *sad face*

1/12/22 Fico 8 - 689

1/13/22 (today) FICO 8 - 668 (21 point penalty) Smiley Sad

 

All credit cards (except one AU card @ $19 of $1000) have $0 balance.  I thought the AU acct would count towards my overall CC utilization. I was so wrong.  Nothing else has changed on my report from yesterday to today.  

 

Question: What are my chances to get an off-cycle reporting of my Discover Chrome card balance of $24?  I've read other posts where some where trying to get an off-cycle report of $0 balance, but this is different.  Instead of reporting $0, I would like Discover to report $24 to all three.  Has anyone ever tried this?  Or should I just wait until my next statement generates on 2/5?  

 

Note: My Fico Mortage score was not impacted.

 

Man!  That 21point penalty is painful!  TIA! 

Message 1 of 12
11 REPLIES 11
AzCreditGuy
Frequent Contributor

Re: All Zero Penalty is Painful!! *sad face*


@Ceewin wrote:

1/12/22 Fico 8 - 689

1/13/22 (today) FICO 8 - 668 (21 point penalty) Smiley Sad

 

All credit cards (except one AU card @ $19 of $1000) have $0 balance.  I thought the AU acct would count towards my overall CC utilization. I was so wrong.  Nothing else has changed on my report from yesterday to today.  

 

Question: What are my chances to get an off-cycle reporting of my Discover Chrome card balance of $24?  I've read other posts where some where trying to get an off-cycle report of $0 balance, but this is different.  Instead of reporting $0, I would like Discover to report $24 to all three.  Has anyone ever tried this?  Or should I just wait until my next statement generates on 2/5?  

 

Note: My Fico Mortage score was not impacted.

 

Man!  That 21point penalty is painful!  TIA! 

 

That's Fico for you, the penalty is for not carrying any debt. While would disagree on that, its debt no matter what. Some have the ability to pay that "debt" off every month, some don't. 

 

My scores are all around 790s at the moment with 1% UTI, I expect a drop since I split $2000 on 3 different cards. I will get penalized for using my cards. 

 

If your scores are not needed, why bother trying to do a rescore? You know what the score drop was, see if it comes back next month?


 

Message 2 of 12
SouthJamaica
Super Contributor

Re: All Zero Penalty is Painful!! *sad face*


@Ceewin wrote:

1/12/22 Fico 8 - 689

1/13/22 (today) FICO 8 - 668 (21 point penalty) Smiley Sad

 

All credit cards (except one AU card @ $19 of $1000) have $0 balance.  I thought the AU acct would count towards my overall CC utilization. I was so wrong.  Nothing else has changed on my report from yesterday to today.  

 

Question: What are my chances to get an off-cycle reporting of my Discover Chrome card balance of $24?  I've read other posts where some where trying to get an off-cycle report of $0 balance, but this is different.  Instead of reporting $0, I would like Discover to report $24 to all three.  Has anyone ever tried this?  Or should I just wait until my next statement generates on 2/5?  

 

Note: My Fico Mortage score was not impacted.

 

Man!  That 21point penalty is painful!  TIA! 


Just wait.


Total revolving limits 693500 (600500 reporting) FICO 8: EQ 716 TU 729 EX 697

Message 3 of 12
Ceewin
Established Member

Re: All Zero Penalty is Painful!! *sad face*

@AzCreditGuy 

@SouthJamaica 

 

Hello!  Thanks for responding!

 

I'm about 3 to 3.5 weeks from Discover generating another statement.  I'm still in "sticker shock" after checking my report this morning.  I started laughing when I first saw the penalty but now I'm like "awww"Smiley Indifferent

 

I'll wait.  I'm not planning on applying for anything for at least 6 months. #lessonlearned

Thanks again! 

Message 4 of 12
CH-7-Rebuilding
Valued Contributor

Re: All Zero Penalty is Painful!! *sad face*


@AzCreditGuy wrote:

@Ceewin wrote:

1/12/22 Fico 8 - 689

1/13/22 (today) FICO 8 - 668 (21 point penalty) Smiley Sad

 

All credit cards (except one AU card @ $19 of $1000) have $0 balance.  I thought the AU acct would count towards my overall CC utilization. I was so wrong.  Nothing else has changed on my report from yesterday to today.  

 

Question: What are my chances to get an off-cycle reporting of my Discover Chrome card balance of $24?  I've read other posts where some where trying to get an off-cycle report of $0 balance, but this is different.  Instead of reporting $0, I would like Discover to report $24 to all three.  Has anyone ever tried this?  Or should I just wait until my next statement generates on 2/5?  

 

Note: My Fico Mortage score was not impacted.

 

Man!  That 21point penalty is painful!  TIA! 

 

That's Fico for you, the penalty is for not carrying any debt. While would disagree on that, its debt no matter what. Some have the ability to pay that "debt" off every month, some don't. 

 

My scores are all around 790s at the moment with 1% UTI, I expect a drop since I split $2000 on 3 different cards. I will get penalized for using my cards. 

 

If your scores are not needed, why bother trying to do a rescore? You know what the score drop was, see if it comes back next month?


 


Discover gladly does mid-cycle updates upon request.   Just give them a call or hit them up in chat or secured message -- but I would call.  No need to sit and look at your casino losses for 3 weeks when you don't have to.   Discover is one of the only ones that will do it upon request.

Message 5 of 12
Ceewin
Established Member

Re: All Zero Penalty is Painful!! *sad face*

@CH-7-Rebuilding 

Thanks for the info!

 

Update! I contacted Discover and received a "not a problem; may take up to 2 business days" response.   Yay! Smiley Very Happy

 

No more All Zero balance(s) on my credit reports. Smiley Frustrated

 

Thanks again! #lessonlearned

Message 6 of 12
Have1
Regular Contributor

Re: All Zero Penalty is Painful!! *sad face*


@Ceewin wrote:

@CH-7-Rebuilding 

Thanks for the info!

 

Update! I contacted Discover and received a "not a problem; may take up to 2 business days" response.   Yay! Smiley Very Happy

 

No more All Zero balance(s) on my credit reports. Smiley Frustrated

 

Thanks again! #lessonlearned


The All Zero Penalty is like good horseradish:  Sure it makes your eyes water, but it's only for a few moments.

 

I'm glad you got quick relief.

Message 7 of 12
Ceewin
Established Member

Re: All Zero Penalty is Painful!! *sad face*

@Have1 Heart that analogy!

 

Last Update: The balance updated today (<24 hrs?!?) on Experian.  All 21 points are back!  Whew! *wipes brow*

Message 8 of 12
NYC_Fella
Regular Contributor

Re: All Zero Penalty is Painful!! *sad face*

BTW, AU cards are counted separately. There is a separate all-zero penalty for AU cards. So you need to show a reported balance on one primary card and one AU card.

Message 9 of 12
Junejer
Moderator Emeritus

Re: All Zero Penalty is Painful!! *sad face*


@AzCreditGuy wrote:

@Ceewin wrote:

1/12/22 Fico 8 - 689

1/13/22 (today) FICO 8 - 668 (21 point penalty) Smiley Sad

 

All credit cards (except one AU card @ $19 of $1000) have $0 balance.  I thought the AU acct would count towards my overall CC utilization. I was so wrong.  Nothing else has changed on my report from yesterday to today.  

 

Question: What are my chances to get an off-cycle reporting of my Discover Chrome card balance of $24?  I've read other posts where some where trying to get an off-cycle report of $0 balance, but this is different.  Instead of reporting $0, I would like Discover to report $24 to all three.  Has anyone ever tried this?  Or should I just wait until my next statement generates on 2/5?  

 

Note: My Fico Mortage score was not impacted.

 

Man!  That 21point penalty is painful!  TIA! 

 

That's Fico for you, the penalty is for not carrying any debt. While would disagree on that, its debt no matter what. Some have the ability to pay that "debt" off every month, some don't. 

 

My scores are all around 790s at the moment with 1% UTI, I expect a drop since I split $2000 on 3 different cards. I will get penalized for using my cards. 

 

If your scores are not needed, why bother trying to do a rescore? You know what the score drop was, see if it comes back next month?


You might be surprised by the results. I know the earlier versions of FICO (NKA mortgage scores) would wollup you for it, but it has been my experience that F8 is not so concerned about two or three cards reporting a balance on my profile. I'm in the midst of a mini F8 AZEO experiment that should be completed in the next couple of months. I'll report my findings in a thread when complete.


 






Starting Score: 469
Current Score: 809
Goal Score: 825


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