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All Zero Penalty is Painful!! *sad face*

Ceewin
New Contributor

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


@NYC_Fella wrote:

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.


@NYC_Fella  Hello!  Hmmm...didn't know about that! I think I may have that covered as the one I let report a balance for January will close @ at $0 balance within the week and another will close with a $19.95 bal of $2100 CL on the same day.  Although...now that I think about it....they prob won't update the CB's on the same day.  So...one of two things will happen in regards to reporting:

1. All three (1-My CC, +1 AU, +1 AU) will show a balance on my report:  Possibly another penalty

-OR-

2. Only one will show a balance (My CC); ALL AU's reporting $0 balance: Possibly an "AU-all zero" penalty

 

There is possibly a #3 to this list, but I can't think of it.  Either way, If I get penalized it should only be for 5-7 days until both AU's accounts update with new balances.  I guess I'll have to wait and see. Smiley Wink

 

Side Note:  I would have known less than 0.000001% of the info above if it were not for the wealth of knowledge found on myFICO® Forums.  You all are awesome!  Thank you!!!

Message 11 of 16
NYC_Fella
Frequent Contributor

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


@Ceewin wrote:

Either way, If I get penalized it should only be for 5-7 days until both AU's accounts update with new balances.  I guess I'll have to wait and see. Smiley Wink

Good luck and please report back!

Message 12 of 16
Ceewin
New Contributor

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


@NYC_Fella wrote:

@Ceewin wrote:

Either way, If I get penalized it should only be for 5-7 days until both AU's accounts update with new balances.  I guess I'll have to wait and see. Smiley Wink

Good luck and please report back!


Hello all!  Reporting back....

 

Well, no change to my Fico 8 score.  It's still @ 689 (EX), 689( TU) and 698 (EQ)  I have one AU reporting a $19 of $2100 balance (.009% utilization Smiley Very Happy ) and my own credit card reporting a $24 of a $4000 balance (.006% utilizationSmiley Very Happy )  

 

Whew! *wipes brow*  

 

Thanks Everyone!!!

Message 13 of 16
Junejer
Moderator Emeritus

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


@Ceewin wrote:

@NYC_Fella wrote:

@Ceewin wrote:

Either way, If I get penalized it should only be for 5-7 days until both AU's accounts update with new balances.  I guess I'll have to wait and see. Smiley Wink

Good luck and please report back!


Hello all!  Reporting back....

 

Well, no change to my Fico 8 score.  It's still @ 689 (EX), 689( TU) and 698 (EQ)  I have one AU reporting a $19 of $2100 balance (.009% utilization Smiley Very Happy ) and my own credit card reporting a $24 of a $4000 balance (.006% utilizationSmiley Very Happy )  

 

Whew! *wipes brow*  

 

Thanks Everyone!!!


Order has been restored...






Starting Score: 469
Current Score: 817
Goal Score: 825

Take the myFICO Fitness Challenge
Message 14 of 16
Ceewin
New Contributor

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


@Junejer wrote:

@Ceewin wrote:

@NYC_Fella wrote:

@Ceewin wrote:

Either way, If I get penalized it should only be for 5-7 days until both AU's accounts update with new balances.  I guess I'll have to wait and see. Smiley Wink

Good luck and please report back!


Hello all!  Reporting back....

 

Well, no change to my Fico 8 score.  It's still @ 689 (EX), 689( TU) and 698 (EQ)  I have one AU reporting a $19 of $2100 balance (.009% utilization Smiley Very Happy ) and my own credit card reporting a $24 of a $4000 balance (.006% utilizationSmiley Very Happy )  

 

Whew! *wipes brow*  

 

Thanks Everyone!!!


Order has been restored... <--- I Heart Heart Heart this!


Yes!  Looking back, I was soo all in my feelings about that "unfair" penalty.  Smiley Very Happy  In the grand scheme, was it that serious? *shrugs shoulders*

Message 15 of 16
Feisarr
Member

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

When I was applying for a mortgage I made sure my spouse and I watched for AZEO like hawks! It made a difference - even though they say you don't need to exceed certain scores for the best rates, having a very high score helped our lender write a really compelling preapproval letter that I'm convinced helped us.

Message 16 of 16
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