Allowing usage on (9) cards to report in one month?

[SanDiegoCredit]

Hi folks.  I'm new to managing my FICO.

My EXP F8 score is 754.

I have nine bank trade lines.  I usually PIF before cycle closes for each account every month, so util is like <1%.

However for this month, I said, nah...  I'm going to let every card close and presumeably report.  Every card got used! So cycle will close with balance due anywhere from $18, to $1500.  Total spend for the month was $4,200.  Total CL across all accounts is $100K.

Do you think my score will go up or down?

Thanks

[blindambition]

There will be a penalty for more than 50% of cards reporting. We're any cards reporting over 28.9% utilization? I'm guessing no, on 9 cards with 100k of available credit. If yes, small penalty there.

Any loss will be temporary though. Once your back to AZEO

[AllZero]

As above, if no utilization threshold crossed, not a huge impact for revolvers reporting.

EX8 should remain the same.
EQ8 and TU8 should see a small points loss.

BBB did a test. For your reading pleasure.
https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/From-AZ-gt-AZEO-gt-100-w-balances-data/m...

[Anonymous]

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@SanDiegoCredit wrote:

Hi folks.  I'm new to managing my FICO.

My EXP F8 score is 754.

I have nine bank trade lines.  I usually PIF before cycle closes for each account every month, so util is like <1%.

However for this month, I said, nah...  I'm going to let every card close and presumeably report.  Every card got used! So cycle will close with balance due anywhere from $18, to $1500.  Total spend for the month was $4,200.  Total CL across all accounts is $100K.

Do you think my score will go up or down?

Thanks

---

On my scorecard it would go down on EQ/TU 8 due to 100% of cards reporting a balance. EX 8 wouldn't move.

But I have less than 3yrs total credit history with less than 2yrs revolving history.

3 of 4 (75%) is the same as 2 of 4 (50%) on all 3 FICO 8's for me. But the EQ/TU 9's go up +11 to +16 at 50% vs 75%.

When I had 2 cards, 2 of 2 (100%) was the same penalty as 4 of 4: EQ/TU 8 -19/-14.

I could get those points back with 1 of 2.

[SanDiegoCredit]

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@blindambition wrote:

There will be a penalty for more than 50% of cards reporting. We're any cards reporting over 28.9% utilization? I'm guessing no, on 9 cards with 100k of available credit. If yes, small penalty there.

Any loss will be temporary though. Once your back to AZEO

Thank you. One card has a low limit of $1K. It's the Cash+ card and I had a lot of high bills, so it will close at 70%. :-) I can't wait for the score change...

@AllZero wrote:

As above, if no utilization threshold crossed, not a huge impact for revolvers reporting.

EX8 should remain the same.
EQ8 and TU8 should see a small points loss.

BBB did a test. For your reading pleasure.
https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/From-AZ-gt-AZEO-gt-100-w-balances-data/m...

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Thanks! I will read that!

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@Anonymous wrote:

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@SanDiegoCredit wrote:

Hi folks.  I'm new to managing my FICO.

My EXP F8 score is 754.

I have nine bank trade lines.  I usually PIF before cycle closes for each account every month, so util is like <1%.

However for this month, I said, nah...  I'm going to let every card close and presumeably report.  Every card got used! So cycle will close with balance due anywhere from $18, to $1500.  Total spend for the month was $4,200.  Total CL across all accounts is $100K.

Do you think my score will go up or down?

Thanks

---

On my scorecard it would go down on EQ/TU 8 due to 100% of cards reporting a balance. EX 8 wouldn't move.

But I have less than 3yrs total credit history with less than 2yrs revolving history.

3 of 4 (75%) is the same as 2 of 4 (50%) on all 3 FICO 8's for me. But the EQ/TU 9's go up +11 to +16 at 50% vs 75%.

When I had 2 cards, 2 of 2 (100%) was the same penalty as 4 of 4: EQ/TU 8 -19/-14.

I could get those points back with 1 of 2.

---

Your score card is an impressive piece of work! Thanks

[blindambition]

As stated, losses will rebound. That card will definitely be penalized... Passing 28.9, 48.9, and 68.9 thresholds.

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@SanDiegoCredit wrote:

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@blindambition wrote:

There will be a penalty for more than 50% of cards reporting. We're any cards reporting over 28.9% utilization? I'm guessing no, on 9 cards with 100k of available credit. If yes, small penalty there.

Any loss will be temporary though. Once your back to AZEO

Thank you. One card has a low limit of $1K. It's the Cash+ card and I had a lot of high bills, so it will close at 70%. :-) I can't wait for the score change...

@AllZero wrote:

As above, if no utilization threshold crossed, not a huge impact for revolvers reporting.

EX8 should remain the same.
EQ8 and TU8 should see a small points loss.

BBB did a test. For your reading pleasure.
https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/From-AZ-gt-AZEO-gt-100-w-balances-data/m...

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Thanks! I will read that!

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@Anonymous wrote:

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@SanDiegoCredit wrote:

Hi folks.  I'm new to managing my FICO.

My EXP F8 score is 754.

I have nine bank trade lines.  I usually PIF before cycle closes for each account every month, so util is like <1%.

However for this month, I said, nah...  I'm going to let every card close and presumeably report.  Every card got used! So cycle will close with balance due anywhere from $18, to $1500.  Total spend for the month was $4,200.  Total CL across all accounts is $100K.

Do you think my score will go up or down?

Thanks

---

On my scorecard it would go down on EQ/TU 8 due to 100% of cards reporting a balance. EX 8 wouldn't move.

But I have less than 3yrs total credit history with less than 2yrs revolving history.

3 of 4 (75%) is the same as 2 of 4 (50%) on all 3 FICO 8's for me. But the EQ/TU 9's go up +11 to +16 at 50% vs 75%.

When I had 2 cards, 2 of 2 (100%) was the same penalty as 4 of 4: EQ/TU 8 -19/-14.

I could get those points back with 1 of 2.

---

Your score card is an impressive piece of work! Thanks

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[SanDiegoCredit]

The USB cash+ card reported $667 balance on the $1,000 limit card. My EX score immediately went up by one point. 753-> 754. There could be other factors that made it move... So not drawing and conclusions...

[Anonymous]

My test showed that EX8 doesn't care at all about number of cards with a balance on a clean/aged file anyway.  Didn't matter if I was at AZEO or 100% of cards with a balance, score didn't budge.  EQ8 and TU8 are more sensitive to that, but even so you're looking at maybe 10-15 points that will come back as quick as they went away if you reduce the number of accounts with balances back to where they were.

[Anonymous]

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@Anonymous wrote:

My test showed that EX8 doesn't care at all about number of cards with a balance on a clean/aged file anyway.  Didn't matter if I was at AZEO or 100% of cards with a balance, score didn't budge.

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That was a great test, too.

I found the same on EX 8 even with less than 6 months revolving credit history. Still holding true at 1yr 11mo revolving history.

100%, 75%, [EDIT: and 50% 50%, and 25%] of cards (out of 4) = all the same EX 8 score.

[Anonymous]

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@SanDiegoCredit wrote:

The USB cash+ card reported $667 balance on the $1,000 limit card. My EX score immediately went up by one point. 753-> 754. There could be other factors that made it move... So not drawing and conclusions...

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Sometimes we get points on the 1st from aging. This can cause a net gain when something else happens that is known to cause a score loss - like an inquiry, new account showing up, increasing utilization into a higher interval, etc.