FICO due to no mortgage and credit card only debt

[FICOdawg]

Thanks.     And good to know my PP MC is considered traditional bank card.

My current question is how many times Chase would let me ask for CLI.   I think I'll try once below 49% on my last card.     Is there a strategy to take here since they are soft pulls?

So far no balance chasing as I rapidly paid off the Marriott card.

[FICOdawg]

Cautionary tale about utilisation.    

I'll never agree with FICO modeling as my DTI is way below 10% yet the credit card balance holds me back for actually having fairly low total debt.   Paying down my CC is clearly the only direct knob I have control of as adding accounts would cause a score hit in the short term.

The utilisation will resolve itself by default.      I'll add another CC or two next year to bump up my mix and have to suffer the 12 month new acct hit again.    

Just opening one more credit card over the last 5-10 years with a 10 or 15 grand limit would have avoided this outlier in FICO modeling that I'm trapped in.     

If you are younger, open a few decent reward cards for the long haul and never close them.

[FICOdawg]

My impatience got to me and I applied online for CLI on United card and they gave me a $5k increase.    Kinda low for my income but this sets me up for another CLI in December when the card is paid way down.      Considering on Jan 1 my two cards were near maxed I guess I can't complain.     

[FicoMike0]

Congratulations on the cli! As long as it's a sp, I don't think there's a downside to asking every month. Most won't do it but every six months, but no penalty for asking. I keep my reports frozen, just to be sure. 

I've been hitting usb with a request every month, I have two cards, one at $2000, one at $7000, I alternate. Same answer every month, NO. B@$tards! They quote my TransUnion Rapid Default Model Version 1 score of 574 as the reason. My tu fico8 is 810, but that's not good enough for them. No one seems to know enough about the turd score to game it. 

[FICOdawg]

Chase is every 6 months.   In fact if you go to any other Chase card in your account to try, it will say 
"This card not eligible for increase" or something like that.     It will definitly be a SP and glad I tried as for sure I'll get another bump in early December when I can try again.       I have a long way to go before Chase would stop giving me CLI I'd like to bump up my two cards at least another 10-20k each for CL.

Outside of the divorce situation I don't usually float a bunch of CC debt it really depends how quickly my expense reports get paid as to whether or not a balance shows.

What is the TransUnion Rapid Default Model Version 1?     I have only looked at my Experian scores for the time being as nothing would really change with my plan even if I paid to get all three scores now.   I'll wait until end of year to be sure no errors, etc.   

[pizzadude]

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@FICOdawg wrote:

What is the TransUnion Rapid Default Model Version 1?     I have only looked at my Experian scores for the time being as nothing would really change with my plan even if I paid to get all three scores now.   I'll wait until end of year to be sure no errors, etc.   

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US Bank frequently uses this score for approvals / CLIs, also recent discussion around the TURD score here:  https://ficoforums.myfico.com/t5/Got-questions-Let-s-talk-myFICO/Rapid-Default-Scores/m-p/6820764

[FICOdawg]

Interesting.   Would appear high or rapidly increases balances while also adding accounts is definitely part of their mix.   I have not applied for a new CC in nearly 6 years so I'm good there.       From reading on Reddit even low utilization may not save you on the TURD score.     I guess it makes sense to not allow rapid account opening and the someone just quickly charges them to max in a day or two.    

The funny thing about statistics for consumer behavior is even when they try to segment for things, they can end up proving 1=1 in many cases.     Anything to justify higher rates or dinging conumers the banks will lap it up.