Anyone want to predict my new FICO scores after these changes?

[Anonymous]

I'm shooting for an AMEX SPG and a Chase Sapphire as I have no premium cards. Current EQ score, as seen below, is a 675, and the TU is a 698. Both of which include some 30-day lates (most recent 2.5 years ago) and a collection reporting on my EQ (not TU though, which may partially explain the score discrepancy). 

In an effort to get serious, this month I have done the following:

Paid down my utilization from 58% to 40% (total credit lines are a little below $10k)

Paid off two cards, now only 3/6 of my cards are reporting a balance versus 5/6

EQ collection will fall off this month (called EQ to verify this, collection is from July 2005)

Added as an AU on my parent's AMEX ($21k limit, $0 balance, 8 years of zero baddies)

The AMEX AU will raise my AAoA from 4 years to 5 years and my UTIL to 13%

So basically moved my UTIL from 58% to 13%, dropped a collection from CR, two additional cards now reporting zero balance, AAoA goes up a year from 4 to 5. 

My goal is a 720 or so to hopefully be approved for the cards I want; luckily I have no inquiries in about 9 mos. Next month I'll pay off another card to bring my UTIL closer to 7-8%, but 13% is the best I can do at the moment! 

What do you guys think? I'll update once the results come in and all these changes report!

[llecs]

Post back for sure, but if I had to guess, I'd guess at a few points north of 720 on both.

[Anonymous]

I certainly hope so! 720 would be pretty awesome. Definitely wouldn't have been possible without all the info here.

Before the $21k CL AMEX AU, my highest CL was $3,500. So I'm hoping that having the higher CL on my account will lead to higher credit lines when I app for The Amex SPG and Chase Sapphire. 

[RobertEG]

I think 720 is very 'doable with those changes and the AU factored in....however, some reservation as to the effect in securing new credit.

The more significant changes will most likely come from increase in AAoA and reduction of % util based on the AU.

The impact of raw score improvement could possibly be discounted by a prospective creditor if they do a manul review of your CR, and choose to discount the credit history that is not yours in their determination.  No way of knowing that in advance.

The AU may not be all gravy.

[Anonymous]

The Amex au will actually reduce your aaoa as Amex au/acm report differently than visa/mc

[Revelate]

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@Anonymous wrote:
The Amex au will actually reduce your aaoa as Amex au/acm report differently than visa/mc

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How so?  Do they also report as as the Membership Since year, namely, start of the tradeline is 0 days from when the AC was added on the AC's report?

Edit: assuming that said AC didn't have a membership date already established that is?

[Anonymous]

I'd also be interested in knowing about the AMEX AAoA thing.

The collection dropped off my account today. Got a score alert and my EQ increased to 706. Not sure what other changes this reflects, but it just seems to indicate that the alert was because the collection dropped off. Not sure if it's reporting the new AMEX or paid down other balances yet...

Will keep everyone updated. But 30 points up isn't a bad start!

[Anonymous]

Okay, another post to clarify: I was able to run another report with my Scorewatch. My UTIL moved down from 58% to 56% because only one card updated (where the balance went from $150 to $0), AMEX AU is NOT reporting yet. So basically moved up 31 points (675 to 706) from a collection dropping. Geez, didn't realize it was affecting me so badly! A $76 paid collection from 6 years, 11 months was still dropping my score that much.

So I expect good things once my other cards update their balances and drop my UTIL down another ~16% and then once the AMEX appears and drops me down to ~13% total. 720+ here I come!

[Anonymous]

Small payment reported bringing me up to 709 w/ 51% UTIL. Still waiting for three things: a card to report as PIF (bringing UTIL from 51% to 43%), for another card to report as PIF (bringing UTIL from 43% to 23%) and bring added as an AMEX AU to report (bringing UTIL from 23% to 9%). 

Onward and upward!

[Anonymous]

Okay, another posted! Unfortunately it was supposed to report a zero balance after the update, but I guess I got a $2 interest charge or something at the last moment. Tried to pay it before the statement cut, but no luck. Now the balance is $2 instead of $0. :/ But I still have several weeks before my bigger card reports as PIF, so I have time to pay the $2 and hopefully end up with a zero balance! Not even sure if having a $2 balance instead of $0 is affecting me.

Down 8% UTIL, up 7 points!

The next PIF card that moves me down another 20% will push me below the "30% UTIL threshold" that many people speculate about, so hopefully that will be an additional boost on top of the normal boost for UTIL dropping. Would love to be in the high-730s/low-740s w/ 23% UTIL because that was basically my short-term goal to start apping and the FICO bump from moving from 23% to 9% would be icing on the cake.