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FICO scores with 1 vs 2 cards out of 9 with balance

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Valued Contributor

Re: FICO scores with 1 vs 2 cards out of 9 with balance

Okay...I could get long-winded about this but I'm not...Let's just say MyFICO screwed up on Sunday when I bought a 3 report view and I wasn't able to pull a 3 report view until this morning. I was trying to get a baseline report for the other thread about installment loans. MyFICO really had me upset because I knew that I had a few days here where all my cards  would be reporting $0 because I am in the process of changing which card is my reporting card.

 

So this morning I logged onto MyFICO and saw that my EQ 08 score was still at 705. "Great!", I thought, "MyFICO still shows 1 card reporting a balance because my score is still at 705 like it has been for the past few months when I had only 1 card reporting a balance!"

 

I pulled a 3 report view and watched the EQ 08 score logo climb...All the way to 687! WHAT? Either MyFICO doesn't check for changes everytime you logon or they picked up that all my cards were reporting $0 in a matter of seconds!

 

Well...It did pay off in a way, because now I have information to report to several threads here.

 

I now know how many points I lose when all my cards report $0 and it's a lot!

 

I lost 18 points on EQ 08 going from 1 card reporting a small balance (705) to all cards reporting $0 (687). So if we look at my past history we can see that:

 

1 card reporting a small balance = 705 EQ08

2 cards reporting a small balance = 702 EQ08

2 cards reporting, 1 small and 1 high balance = 699 EQ08

All cards repoting $0 = 687 EQ08

 

Oh...Another thing I learned today...

 

When an upaid 10 year old State tax lien falls off your reports you gain A LOT OF POINTS!

 

Yes, an old State tax lien fell off my EX report and I went from an EX 08 score of 712 with 2 cards reporting a small balance to 767 with all cards reporting $0! THAT"S A POINT GAIN OF 55 POINTS! If you add another 18 points to that as if I had 1 card reporting a balance that could be a potential score of 785! (I know it doesn't exactly work that way but we will find out soon enough.)

 

Anyway...Here's my scores from 2 months ago with 2 cards reporting, 1 a small balance and 1 a medium balance:

 

 

Here's my scores from today with all cards reporting $0:

 


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 21 of 52
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Moderator Emeritus

Re: FICO scores with 1 vs 2 cards out of 9 with balance

Wow, are you now clean on EX Jamie?  That's fantastic!  

 

If it was 3B would you mind posting the rest of your EX scores before / after if you have them?   Even the after ones as I have a pretty good familiarity with your file and we should be around the same strata +/- 10 points I would wager.

 

It's interesting to see the flat $0 penalty for someone in our strata, I'd seen it with LG's report but she is of the gold plated variety.  Also yeah, there's a reporting lag that isn't reflected in the instant in time pull and sometimes the purchase is awkwardly delayed though hasn't been more than a half hour for me... my last two were instant, don't know what the deal was there but you aren't the only one to experience something like that but I wasn't close to your two days.  That sorta sucks regarding data points.

 

Greatly appreciate your contributing data to this thread!




        
Message 22 of 52
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Re: FICO scores with 1 vs 2 cards out of 9 with balance

Yeah, my EX is CLEAN!!!!

 

My EX report also contains one closed CC from 25 years ago that isn't on my EQ or TU reports. That helps my EX scores a bit.

 

Here is my credit profile:

 

 

Here is my EX before the State tax lien fell off and with 2 CCs reporting small balances:

 

 

Here is my EX after State tax lien fell off and with all CCs reporting $0:

 

 


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 23 of 52
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Valued Contributor

Re: FICO scores with 1 vs 2 cards out of 9 with balance

One thing that is really interesting is how the mortgage score picked up 86 points!

 

I hope I get that kind of movement on the EQ and TU mortgage scores once I get those liens taken care of on those reports.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 24 of 52
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Moderator Emeritus

Re: FICO scores with 1 vs 2 cards out of 9 with balance


@jamie123 wrote:

One thing that is really interesting is how the mortgage score picked up 86 points!

 

I hope I get that kind of movement on the EQ and TU mortgage scores once I get those liens taken care of on those reports.


Dude I just saw that scrolling through your post and my jaw literally dropped!

 

3 cheers for you!  Cannot wait till I'm clean in 2017 if that's the sort of early Christmas present I'm going to get.

 

It'll be interesting to see how much that old account helps you on EX in comparison to the other two when those come off.  Did the lien come off early or?  I had thought your liens were more recent than that?

 

 




        
Message 25 of 52
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Valued Contributor

Re: FICO scores with 1 vs 2 cards out of 9 with balance

The EX and EQ are actually the same lien from 2005. The EX dropped off but the EQ is still there.

 

The lien on the TU is from 2006 but was filed in 2010. (Don't ask. That's how they did it.)

 

All of my liens are unpaid, I don't know if that would make a difference or not between our scores.

 

Yeah, my EX score was usually higher than my other two scores by about 10 to 15 points. I'm thinking it was because of the old account on EX.

 

All I need is either EQ or TU to come in above 760 and that would be my mid-score if I'm thinking correctly? That would rock!

 

I'm posting some other info on the installment loan thread.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 26 of 52
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Moderator Emeritus

Re: FICO scores with 1 vs 2 cards out of 9 with balance

Yup, in mortgage land even a 350 760 760 = 760.

 

Liens paid vs. released means natch under the FICO algorithms at any rate.  That's downright weird for one bureau to be reporting the lien so much later.  




        
Message 27 of 52
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Re: FICO scores with 1 vs 2 cards out of 9 with balance


@Revelate wrote:

Yup, in mortgage land even a 350 760 760 = 760.

 

Liens paid vs. released means natch under the FICO algorithms at any rate.  That's downright weird for one bureau to be reporting the lien so much later.  


No the TU is a different lien and it is for BIG BUCKS! That's why I know that the dollar value of a lien doesn't mean squat. The EQ and EX lien are for $618 but the TU lien is for $34K. (Yeah, I don't even like typing all those zeros.)


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 28 of 52
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Moderator Emeritus

Re: FICO scores with 1 vs 2 cards out of 9 with balance


@jamie123 wrote:

@Revelate wrote:

Yup, in mortgage land even a 350 760 760 = 760.

 

Liens paid vs. released means natch under the FICO algorithms at any rate.  That's downright weird for one bureau to be reporting the lien so much later.  


No the TU is a different lien and it is for BIG BUCKS! That's why I know that the dollar value of a lien doesn't mean squat. The EQ and EX lien are for $618 but the TU lien is for $34K. (Yeah, I don't even like typing all those zeros.)


Heh, that was nothing compared to my old albatross Smiley Happy.  I was pretty certain dollar amount didn't factor either as a result.

 

Who the hell filed a tax lien for $618?  That's just rude and petty.




        
Message 29 of 52
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Valued Contributor

Re: FICO scores with 1 vs 2 cards out of 9 with balance

I tried this & got good results.  JaggerBombs89 had a previous thread on this subject.  It's great but my score stood there.  Never moving.  I decided to shake things up a bit.  Letting about 3/4 report & back to one again.  See if I can get my score up a bit more.  Good thing is those hp's aren't dinging it anymore.(must have reached that point)    Rev, maybe a thread for # of cc's, inquries and how old, along with new accounts?  I know there are many of us with at least 15 cc's and many more inquries and new accounts under two years old.   Thanks for all of these threads.  


FICOS: EQ-812 TU-811 EX-818 Goal - 840-850 Across The Board
Total Credit Lines - 506K Gardening....
"I am the master of my fate and the captain of my destiny" Nelson Mandela
Message 30 of 52
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