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

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


@Sandibeach22 wrote:

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.  


Hmm, I was thinking about that Sandi that this title wasn't very good but it might make sense to do an entirely new one whereas this title was just a HEY LOOK AT THIS! post basically and not really that good for including others in a more structured format.

 

What do you think would be a good format for the tradelines with balances bit?  Don't really care as long as it's a FICO score that's being tracked regularly and they're willing to manage small balances... we need a seperate thread for large balance reporting I'm thinking if we're trying to isolate just the effect of having balances reported on various tradelines.  MF or EQ Scorewatch would be the obvious picks for best data resolution on balance changes.  Maybe the new EX credit tracker, haven't tried that one yet but heard reports it was pretty good but not sure on the specifics of it's balance change reporting whereas SW picks up pretty much everything at least on that front.

 

Total Cards: X

Bureau and Score version:

1 Balance: A score

2 Balances: B score

3 Balances: C score

4 Balances: D score

.

.

N Balances: N score

 

?

 

I think the inquiry one would be hard, because most of us testers spree and purposely go to different bureaus to maximize approval chances and results.  It's possible we could add 1 then another then another then another over a week or two, but usually the distribution doesn't work out on one bureau.  

 

Thoughts from anyone on this?




        
Message 31 of 52
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Valued Contributor

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


@Revelate wrote:

@Sandibeach22 wrote:

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.  


Hmm, I was thinking about that Sandi that this title wasn't very good but it might make sense to do an entirely new one whereas this title was just a HEY LOOK AT THIS! post basically and not really that good for including others in a more structured format.

 

What do you think would be a good format for the tradelines with balances bit?  Don't really care as long as it's a FICO score that's being tracked regularly and they're willing to manage small balances... we need a seperate thread for large balance reporting I'm thinking if we're trying to isolate just the effect of having balances reported on various tradelines.  MF or EQ Scorewatch would be the obvious picks for best data resolution on balance changes.  Maybe the new EX credit tracker, haven't tried that one yet but heard reports it was pretty good but not sure on the specifics of it's balance change reporting whereas SW picks up pretty much everything at least on that front.

 

Total Cards: X

Bureau and Score version:

1 Balance: A score

2 Balances: B score

3 Balances: C score

4 Balances: D score

.

.

N Balances: N score

 

?

 

I think the inquiry one would be hard, because most of us testers spree and purposely go to different bureaus to maximize approval chances and results.  It's possible we could add 1 then another then another then another over a week or two, but usually the distribution doesn't work out on one bureau.  

 

Thoughts from anyone on this?


What you have now is good.  I'm on EX Credit Tracker now.  It's not bad and is quick.  I haven't done that yet with the inquiries.  Trying to get the cards I want and let them fall off.  It seems EX is taking a big hit with them.  I see why most freeze it.  I know time is the biggest answer to a much higher score.  But I see some who get over 800 in the blink of an eye.   Can't wait to see some posts.  Need all the help I can get.  


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 32 of 52
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Valued Contributor

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


@StartingOver10 wrote:

@Revelate wrote:

@jamie123 wrote:

About 5 months ago I had my scores all nice and groomed. One card was reporting 5% of its CL all others $0. Then I screwed up and bought a $2.99 app on my cell phone and forgot it was charged to one of my $0 cards.

 

The card reported a $3 balance and I lost 3 points. So for me, $3 on a second card equals 3 points!

 

That's why I tested this time with a relatively high balance card reporting. I wanted to see what worse case scenario would do. So I had one card at 5% of its CL and the "test" card reporting at 71% of its CL (Still 5% total UTI) and I lost 6 points.


Hmm, didn't see a breakpoint at 73% when I tested it once, but I'm really leaning towards getting the silly SDFCU secured minimum limit card and see if I can try to isolate individual balance scoring with an otherwise pristine report.

 

Depending how much furniture I wind up financing Cat Tongue

 

Wonder what it says when you get an offer accepted on a new place, and you're looking around your current domicile thinking: I'm not moving any of this junk.  Part of it I know I bought as throw away junk several years ago but realized when I was doing a quote for home owners insurance, if I'm not counting it for dollar value in the total loss scenario, probably not worth keeping heh.


I am laughing....I moved in Feb 2015 and did the exact same thing.  Looked around and said - Hey, I'll just get some new furniture rather than moving the old stuff! That's how $16k ended up on my cc's for a few months (Mar was first month, will be paid off by Aug) but I tanked my scores....Smiley Embarassed

 

And FWIW it doesn't save as much time as you think it will save. But it is nice to have a new place with new decor Smiley Happy

I'm sure you will love getting yours together...


Just put 10k on 3 cards.  Was trying to keep the balances lower on the cards.  But will pay like you.  I did this to see if I can get my score to go up once they're pif since my scores are at a standstill.  


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 33 of 52
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Valued Contributor

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

Well...That took a while.

 

I went from an EQ 687 back to an EQ 705 when 1 card started reporting a small balance. I can't believe that 1 card reporting a small balance is worth 18 points.

 

I'll pull a 3 report score this Sunday morning so we have a good base line for the installment loan pay off ratio thread and I'll post my scores here so we can see just how much all cards reporting $0 versus 1 card reporting $387/$6000 (6% CL 1% total UTI) affects the different scores contained in the 3 report view.

 

I think that I'm a good candidate to test this because I don't see many people's EQ 08 score move 18 points with all cards reporting $0 vs 1 card reporting a small balance.


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 34 of 52
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Valued Contributor

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

I'm going to let 4 cards report a balance this month.  Just want to see how far my scores drop.  Then go back to just one.  See if I can get a couple more points out of it.  My score are just about stagnant.  I know time will make a difference but I think I should see a few points here and there as the months go by and my ut goes down to 1%.  Currently at 9%.  Fico simulator says 838 to 850 in 19 months if I just pay my bills on time.  


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 35 of 52
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Valued Contributor

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


@Sandibeach22 wrote:

I'm going to let 4 cards report a balance this month.  Just want to see how far my scores drop.  Then go back to just one.  See if I can get a couple more points out of it.  My score are just about stagnant.  I know time will make a difference but I think I should see a few points here and there as the months go by and my ut goes down to 1%.  Currently at 9%.  Fico simulator says 838 to 850 in 19 months if I just pay my bills on time.  


How old is your newest credit account?


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 36 of 52
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Valued Contributor

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


@jamie123 wrote:

@Sandibeach22 wrote:

I'm going to let 4 cards report a balance this month.  Just want to see how far my scores drop.  Then go back to just one.  See if I can get a couple more points out of it.  My score are just about stagnant.  I know time will make a difference but I think I should see a few points here and there as the months go by and my ut goes down to 1%.  Currently at 9%.  Fico simulator says 838 to 850 in 19 months if I just pay my bills on time.  


How old is your newest credit account?


Actually, J.Crew just hit my report.


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 37 of 52
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Valued Contributor

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

I have a theory that if you have a "new" account that is less than 2 years old that you can't reach 850.

 

Whas the J.Crew on your reports when you were given the "Pay bills on time for 19 months to reach 850" message?


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 38 of 52
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Moderator Emeritus

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


@jamie123 wrote:

Well...That took a while.

 

I went from an EQ 687 back to an EQ 705 when 1 card started reporting a small balance. I can't believe that 1 card reporting a small balance is worth 18 points.

 

I'll pull a 3 report score this Sunday morning so we have a good base line for the installment loan pay off ratio thread and I'll post my scores here so we can see just how much all cards reporting $0 versus 1 card reporting $387/$6000 (6% CL 1% total UTI) affects the different scores contained in the 3 report view.

 

I think that I'm a good candidate to test this because I don't see many people's EQ 08 score move 18 points with all cards reporting $0 vs 1 card reporting a small balance.


Danke for the current datapoint and setting a benchmark for the installment tests which is altogether more useful I think heh.  

 

That's interesting you took such a hit on that one, I haven't tried the all $0's test yet though I chalk up everything on EQ to the fact that bureau hates my file across the board apparently.  You snagging the benchmark with 1 or 0 accounts reporting balances?  Definitely looking forward to your test kicking both down to like 10% or whatever for your mortgage app, does appear to affect EX 98 so it's worth doing.




        
Message 39 of 52
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Valued Contributor

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

I'm going to keep my scores groomed from here on out unless I screw up. I will have 1 card report a small balance and all the rest $0. I will actually try and keep the reporting card very close to the $387 it is at now. Perhaps just a few dollars difference so I can see it change on the report.

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 40 of 52
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