Version 8 counts utilization more heavily. The mortgage scores count number of accounts with a balance more heavily.
So, if you want to increase your mortgage scores you need to only have one account report a balance.
Yes you are on a dirty scorecard because of that collection. Clean means you have no derogatory marks. Dirty means you have derogatory remarks. Actually you can stay on a clean card with 1 30 day late. I think a second one banishes you to a dirty card, but I won’t swear to it. Anything worse than a 30 day definitely makes you dirty.
You need to get that collection off of your record. You will then be reassigned to a clean scorecard on the mortgage scores because you only have one 30 day late. To do that, you need to try the pay for delete PFD technique.
Lucky for you since the collection is under $100 it doesn’t count against you on version 8. Once it’s paid, it will not count against you on version 9. But you still need to get rid of it, because it’s going to affect the mortgage scores as long as it’s on your report.
I don’t know who has your collection, but if you make that information available, a member may have experience with it and be able to give you further guidance, but either way you need to make a deal with them to pay it in order for it to be deleted from your credit reports. Then you’ll see your mortgage scores go up, especially if you practice a AZEO, only allowing one small balance to report.
If you are planning a mortgage anytime soon remember you need to have 12 months clean without any new accounts or hard inquiries preceding the app.
Your aggregate utilization is fine. Keep it under 8.9%. Individual utilization on each card should be kept below 28.9%.
