Feedback - Score Increase & Strategy

[Anonymous]

@credit8502020 aod is very easy to get in with, they just don't announce it or offer it in the membership app. They really dont have any other criteria.

[credit8502020]

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

Hi All!

I'm working to improve my Experian FICO 8 score/profile and could use some feedback and helpful insight. 

Experian - 761 FICO 8

Experian - 796 FICO 2

5 Open Accounts

3 Primary Cards

1 AU Home Depot Card

1 Auto Loan

*2 New Accounts that have not posted yet
Avg Age of Accounts - 11.8 yrs

Experian Inquiries - 0

1 Account Late (Closed Discover Account - 10/18)

3 Closed Accounts

Utilization - AZEO ($10 on NFCU Card) 

It's clear the late is costing me, but I want to find out where I'm losing other points and work on gaining those points until I'm able to get this late removed.

Soon I'll be getting a new installment loan only replace my auto loan that will be paid off soon.  

Here are my questions:

1. I know AZEO works well for mortgage scores, but what's best for FICO 8 scores? 
2. If I recall correctly, to optimize your FICO scores it is best to have a certain number of accounts. If so, what is that number and should those all be open?  
3. While having more payment history, via primary accounts and/or AUs will help, are there any other advanced strategies to improve my score now that I'm missing?
4. Any ideal suggestions for the best installment loan to get when you only need it for scoring purposes. Should I just be looking to the SSL strategy or is there another better alternative? 

Thanks in advance for your help! 

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@credit8502020 

1. AZEO works fine for 8/9, but it must be modified if you have an AU account, by also leaving a small balance on the AU as well.

2. no one knows the exact number but I theorize around 7. 

3. that depends on what strategies you are executing and what your profile looks like. 

4. A small five-year loan that doesn't advance the maturity date works fine SSL or otherwise. 

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@Anonymous Thank you for your feedback! Regarding strategies/plans, my goal is to build my personal profile extremely well so it supports building a strong business credit profile in case I decide to do PGs and to also get 1-2 more cards that better support the following investments:

1) Tuition

2) Advertising Spend

3) Amazon

For both or all of these, I was thinking a 2% "everywhere" card. Of course the AOD 3% card is even better, but it doesn't look like I'll be able to get it because AOD is geofenced, etc. 

I had considered getting a 3rd card. I've decided against that, but I'm curious, if I had, do we have data points about how long the "credit seeking penalty" would impact your scores? 

2% Cards I considered: 

Fidelity & SOFI - Potentially because of new investments I'll do soon
SDFCU - Not a fan of the HP for membership and concerned about a lower SL
PenFed - Concerned about a lower SL
PayPal - Not my ideal 2% card, but it may be a good fit

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@credit8502020 first and foremost, AOD is not geo- fenced. 

secondly you misunderstand credit seeking. That's a code saying you have at least one inquiry that scoreable on your credit report. 365 days later that disappears. As far as Scoring goes. 

Nusenda federal credit union has 5% for tuition a quarter each year. 

Amazon 5% card or one of the rotators that frequently has it.

Advertising may best be covered with that AOD. I don't know maybe another member can chime in if they know better?

as for this SSL thing I want you to think about this in a little different way. Your scores are great. That's a strategy that you want to initiate when you need a score boost, because that's what it does is it rewards you for having an almost paid off loan.

But if you don't have a reason that you need to jack up 8/9 right now, then there's no need for you to go and do that. Now, if you know in the next several years you're going to need it then it may pay to go ahead and do it now with the long term SSL, as an older account is better than a younger one. But keep in mind as soon as you open a loan, it's gonna render it moot. 

Are your primary cards bankcards? Are the two new ones bankcards?

And if you don't mind calculating the metrics and I know you stated some of them previously but so I have them all in one place: AoOA, AoYA=0?, AoYRA=0?, AoORA, AAoA=13?, AAoRA.

by the way I think I recall the few accounts paid on time Reason code referenced. That's why I say 7 accounts. Fico likes to see 7 accounts paid on time at least I believe.

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@Anonymous Thank you for the feedback and suggestions you've provided! I appreciate it!

Regarding AOD, thanks for correcting that. I'm not able to get into AOD based on their criteria and I did not see an option to donate to an organization, etc in order to join the CU. 

Also, thanks for going into detail about credit seeking. So what is the penalty that I would have gotten for applying for 3 cards at once after they report?

Regarding the SL, thank you for mentioning those things to consider. Once I get even close to my car being paid off this year, I'll reconsider if it's actually necessary for me to open an SSL. I may already have the CCs I need and business credit I need by then.

Yes. My primary cards and the new cards are bankcards.

They are as follows:

5 Open Accounts

3 Primary Cards & 1 AU Card

1. Capital Bank - $750
2. Capitol One - $3500
3. 1 AU Home Depot Card - $3700
4. NFCU Cash Rewards - $22,000

New Cards - (Haven't Posted Yet)

Elan Financial - $20,000

NFCU Platinum - $25,000

1 Auto Loan 

I didn't see all of the abbreviations on the list, so I figured I'd type them out. Did the "R" stand for Revolving? 

1. AoOA = Age of Oldest Account - AU - 25 yrs (Revolver), Primary - 20 yrs. (Installment)
2. AAoA = Average Age of Accounts - 11.8 yrs
3. AoYA = Age of Youngest Account: Almost 5 months
4. AoYRA = Age of Youngest Revolving Account: Almost 5 months
5. AoORA = Age of Oldest Revolving Account: AU - 25 years, Primary - 4 yrs
6. AAoRA = Average Age of Revolving Accounts - 8 yrs 3 months (This is for open accounts. If the calculation is supposed to include closed accounts, please let me know.)

Other Experian details in case it's helpful:

Closed Installment

Navient - Paid as agreed

Opened: 11/2000
Closed Revolver

Discover

L: $10,600

Late: 1-30 day, October 2018

Opened: 1/2003

Closed: I don't see the date on my reports, but I think it was closed around 2014. 

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@credit8502020 yes you can definitely get in AOD there are multiple routes. The penalty three cards depends. you have the hard inquiry which may be on one bureau or may be on more than one. those range from zero points to seven points usually, each. 

you then have changes to average ages, if you're on thresholds or cross them. Quick calculations which may be wrong say you'll lose about 3 1/2 years on your average age of accounts, but you should still be above the maximum on that, so I don't think that will affect you scorewise.

Maybe a little over a year on your average age of revolving accounts, maybe -10? That would come back in a year whatever it is. But the sooner you do it and get it over with, the better because the age will come back. 

then you shouldn't have a new account penalty.  so, in sum its at hard to estimate, but that's kind of what I'm thinking. I'm assuming the ages you gave already included the two new accounts, if not my calculations are off. Yes it should've included closed Revolvers, so that skews my calculation as well.

either way this will put you in a good position as long as you stop opening new accounts after this. you'll just need age and to get rid of the derogatory.

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@Anonymous Ok. Thank you! So outside of the 1 late payment, you gather that those almost 60 points could just be from age? Although I know the points in the example aren't exact, I'm just using it as gauge. (850-30 (for the late)=820-761=59.

Ok re: AOD. I'll look back into them. Figured since I don't work for any of those ocmpanies and did not have any immediate family members that I was not eligible to join. I was going by what's on the website, but will definitely look deeper. Thanks again! 

[credit8502020]

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@Anonymous wrote:

@credit8502020 aod is very easy to get in with, they just don't announce it or offer it in the membership app. They really dont have any other criteria.

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@Anonymous Thanks! I'll look back into them. Are you suggesting that they take membership apps over the phone? I was going by the information on the website, but will look back into them again. Did you apply for their 3% card? If so, how long after being a member did you apply? 

[Anonymous]

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous wrote:

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@credit8502020 wrote:

Hi All!

I'm working to improve my Experian FICO 8 score/profile and could use some feedback and helpful insight. 

Experian - 761 FICO 8

Experian - 796 FICO 2

5 Open Accounts

3 Primary Cards

1 AU Home Depot Card

1 Auto Loan

*2 New Accounts that have not posted yet
Avg Age of Accounts - 11.8 yrs

Experian Inquiries - 0

1 Account Late (Closed Discover Account - 10/18)

3 Closed Accounts

Utilization - AZEO ($10 on NFCU Card) 

It's clear the late is costing me, but I want to find out where I'm losing other points and work on gaining those points until I'm able to get this late removed.

Soon I'll be getting a new installment loan only replace my auto loan that will be paid off soon.  

Here are my questions:

1. I know AZEO works well for mortgage scores, but what's best for FICO 8 scores? 
2. If I recall correctly, to optimize your FICO scores it is best to have a certain number of accounts. If so, what is that number and should those all be open?  
3. While having more payment history, via primary accounts and/or AUs will help, are there any other advanced strategies to improve my score now that I'm missing?
4. Any ideal suggestions for the best installment loan to get when you only need it for scoring purposes. Should I just be looking to the SSL strategy or is there another better alternative? 

Thanks in advance for your help! 

---

@credit8502020 

1. AZEO works fine for 8/9, but it must be modified if you have an AU account, by also leaving a small balance on the AU as well.

2. no one knows the exact number but I theorize around 7. 

3. that depends on what strategies you are executing and what your profile looks like. 

4. A small five-year loan that doesn't advance the maturity date works fine SSL or otherwise. 

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@Anonymous Thank you for your feedback! Regarding strategies/plans, my goal is to build my personal profile extremely well so it supports building a strong business credit profile in case I decide to do PGs and to also get 1-2 more cards that better support the following investments:

1) Tuition

2) Advertising Spend

3) Amazon

For both or all of these, I was thinking a 2% "everywhere" card. Of course the AOD 3% card is even better, but it doesn't look like I'll be able to get it because AOD is geofenced, etc. 

I had considered getting a 3rd card. I've decided against that, but I'm curious, if I had, do we have data points about how long the "credit seeking penalty" would impact your scores? 

2% Cards I considered: 

Fidelity & SOFI - Potentially because of new investments I'll do soon
SDFCU - Not a fan of the HP for membership and concerned about a lower SL
PenFed - Concerned about a lower SL
PayPal - Not my ideal 2% card, but it may be a good fit

---

@credit8502020 first and foremost, AOD is not geo- fenced. 

secondly you misunderstand credit seeking. That's a code saying you have at least one inquiry that scoreable on your credit report. 365 days later that disappears. As far as Scoring goes. 

Nusenda federal credit union has 5% for tuition a quarter each year. 

Amazon 5% card or one of the rotators that frequently has it.

Advertising may best be covered with that AOD. I don't know maybe another member can chime in if they know better?

as for this SSL thing I want you to think about this in a little different way. Your scores are great. That's a strategy that you want to initiate when you need a score boost, because that's what it does is it rewards you for having an almost paid off loan.

But if you don't have a reason that you need to jack up 8/9 right now, then there's no need for you to go and do that. Now, if you know in the next several years you're going to need it then it may pay to go ahead and do it now with the long term SSL, as an older account is better than a younger one. But keep in mind as soon as you open a loan, it's gonna render it moot. 

Are your primary cards bankcards? Are the two new ones bankcards?

And if you don't mind calculating the metrics and I know you stated some of them previously but so I have them all in one place: AoOA, AoYA=0?, AoYRA=0?, AoORA, AAoA=13?, AAoRA.

by the way I think I recall the few accounts paid on time Reason code referenced. That's why I say 7 accounts. Fico likes to see 7 accounts paid on time at least I believe.

---

@Anonymous Thank you for the feedback and suggestions you've provided! I appreciate it!

Regarding AOD, thanks for correcting that. I'm not able to get into AOD based on their criteria and I did not see an option to donate to an organization, etc in order to join the CU. 

Also, thanks for going into detail about credit seeking. So what is the penalty that I would have gotten for applying for 3 cards at once after they report?

Regarding the SL, thank you for mentioning those things to consider. Once I get even close to my car being paid off this year, I'll reconsider if it's actually necessary for me to open an SSL. I may already have the CCs I need and business credit I need by then.

Yes. My primary cards and the new cards are bankcards.

They are as follows:

5 Open Accounts

3 Primary Cards & 1 AU Card

1. Capital Bank - $750
2. Capitol One - $3500
3. 1 AU Home Depot Card - $3700
4. NFCU Cash Rewards - $22,000

New Cards - (Haven't Posted Yet)

Elan Financial - $20,000

NFCU Platinum - $25,000

1 Auto Loan 

I didn't see all of the abbreviations on the list, so I figured I'd type them out. Did the "R" stand for Revolving? 

1. AoOA = Age of Oldest Account - AU - 25 yrs (Revolver), Primary - 20 yrs. (Installment)
2. AAoA = Average Age of Accounts - 11.8 yrs
3. AoYA = Age of Youngest Account: Almost 5 months
4. AoYRA = Age of Youngest Revolving Account: Almost 5 months
5. AoORA = Age of Oldest Revolving Account: AU - 25 years, Primary - 4 yrs
6. AAoRA = Average Age of Revolving Accounts - 8 yrs 3 months (This is for open accounts. If the calculation is supposed to include closed accounts, please let me know.)

Other Experian details in case it's helpful:

Closed Installment

Navient - Paid as agreed

Opened: 11/2000
Closed Revolver

Discover

L: $10,600

Late: 1-30 day, October 2018

Opened: 1/2003

Closed: I don't see the date on my reports, but I think it was closed around 2014. 

---

@credit8502020 yes you can definitely get in AOD there are multiple routes. The penalty three cards depends. you have the hard inquiry which may be on one bureau or may be on more than one. those range from zero points to seven points usually, each. 

you then have changes to average ages, if you're on thresholds or cross them. Quick calculations which may be wrong say you'll lose about 3 1/2 years on your average age of accounts, but you should still be above the maximum on that, so I don't think that will affect you scorewise.

Maybe a little over a year on your average age of revolving accounts, maybe -10? That would come back in a year whatever it is. But the sooner you do it and get it over with, the better because the age will come back. 

then you shouldn't have a new account penalty.  so, in sum its at hard to estimate, but that's kind of what I'm thinking. I'm assuming the ages you gave already included the two new accounts, if not my calculations are off. Yes it should've included closed Revolvers, so that skews my calculation as well.

either way this will put you in a good position as long as you stop opening new accounts after this. you'll just need age and to get rid of the derogatory.

---

@Anonymous Ok. Thank you! So outside of the 1 late payment, you gather that those almost 60 points could just be from age? Although I know the points in the example aren't exact, I'm just using it as gauge. (850-30 (for the late)=820-761=59.

Ok re: AOD. I'll look back into them. Figured since I don't work for any of those ocmpanies and did not have any immediate family members that I was not eligible to join. I was going by what's on the website, but will definitely look deeper. Thanks again! 

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@credit8502020 no I don't think you're losing 60 points from age. did you say it's a 30 day late? How old is it? Is that version eight score? Which bureau? Let me go back and look at your profile statistics because I know you put them above. 

yes join the bike club and that is an SEG that allows you guaranteed membership into AOD. Do you need that card do that. 

[Anonymous]

@credit8502020 OK you're in a new account scorecard that's good for 10 to 20 points. Your age of oldest Revolving Account is very low unless the authorized user account is counting. Did you ever test that?

May I assume that you are practicing AZEO and have utilization under 5% on everything? May I assume your balances are low? 

You may be leaving points on the table depending on what your car loan utilization is at.

I also think adding the two bankcards you just added will help even though in the short term it results in a reduction, in the long term I think it will help.

[credit8502020]

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@Anonymous Ok. Thank you! So outside of the 1 late payment, you gather that those almost 60 points could just be from age? Although I know the points in the example aren't exact, I'm just using it as gauge. (850-30 (for the late)=820-761=59.

Ok re: AOD. I'll look back into them. Figured since I don't work for any of those ocmpanies and did not have any immediate family members that I was not eligible to join. I was going by what's on the website, but will definitely look deeper. Thanks again! 

---

@credit8502020 no I don't think you're losing 60 points from age. did you say it's a 30 day late? How old is it? Is that version eight score? Which bureau? Let me go back and look at your profile statistics because I know you put them above. 

yes join the bike club and that is an SEG that allows you guaranteed membership into AOD. Do you need that card do that. 

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@Anonymous Yes. 30 day late. October 2018 on a closed Discover account. Yes. FICO 8 on Experian.

Ok. Thanks regarding the bike club! The only reason I wanted that card is because I only have 2, 1.5% cards for everything. I was looking for either a 2% card, ideally with a sign up bonus or this AOD card. I've been looking at which 2% or 3% card and scenario fits my overall spending best. Thanks! 

[Anonymous]

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@credit8502020 wrote:

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@Anonymous Ok. Thank you! So outside of the 1 late payment, you gather that those almost 60 points could just be from age? Although I know the points in the example aren't exact, I'm just using it as gauge. (850-30 (for the late)=820-761=59.

Ok re: AOD. I'll look back into them. Figured since I don't work for any of those ocmpanies and did not have any immediate family members that I was not eligible to join. I was going by what's on the website, but will definitely look deeper. Thanks again! 

---

@credit8502020 no I don't think you're losing 60 points from age. did you say it's a 30 day late? How old is it? Is that version eight score? Which bureau? Let me go back and look at your profile statistics because I know you put them above. 

yes join the bike club and that is an SEG that allows you guaranteed membership into AOD. Do you need that card do that. 

---

@Anonymous Yes. 30 day late. October 2018 on a closed Discover account. Yes. FICO 8 on Experian.

Ok. Thanks regarding the bike club! The only reason I wanted that card is because I only have 2, 1.5% cards for everything. I was looking for either a 2% card, ideally with a sign up bonus or this AOD card. I've been looking at which 2% or 3% card and scenario fits my overall spending best. Thanks! 

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@credit8502020 since the 30 day late is over two years old and is isolated, you're probably still losing 30 points on it till it drops. 761+30=791. 59 points on table, really more because of the buffer. Your loan utilization is not under 9.5% is it? That could be good for ~20 points.  

list your profile statistics for me again, let's see where the rest of the points are, or tell me what post it is in and I'll go re-read it. I'm sorry, I'll admit it I'm lazy. Long day. Lol. 

[credit8502020]

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@Anonymous wrote:

@credit8502020 OK you're in a new account scorecard that's good for 10 to 20 points. Your age of oldest Revolving Account is very low unless the authorized user account is counting. Did you ever test that?

May I assume that you are practicing AZEO and have utilization under 5% on everything? May I assume your balances are low? 

You may be leaving points on the table depending on what your car loan utilization is at.

I also think adding the two bankcards you just added will help even though in the short term it results in a reduction, in the long term I think it will help.

---

@Anonymous Thank you for helping me see where those points may be! I really appreciate it. I think the Authorized User Account is counting. What's considered a midrange age of an oldest revolving account? 

Yes. I'm practicing AZEO. However, I haven't been doing AZEO with my one account AND with the AU account because I've been focusing on Mother being able to practice AZEO first and foremost and my AU account is her primary. Sooo...I guess I haven't really been practicing "real" AZEO then. LOL!

Yes. My only reporting balance is $10 on my NFCU card. I was planning to switch up in March to see if changing the $10 balance to my Capital One card makes any difference. 

Yes, you're right! I forgot about my car utilization points. I'm at about 16% on my car. I could get it down to 8.9% but I just want to make sure I do it properly. According to my terms, the loan would mature in November. Although I could pay it off sooner, my understanding is that it was not best to do so. The main reason I want to pay it down really low is because of the higher interest rate (14%). So the plan I am considering is to pay the principle down to a really low amount, even lower than the 8.9% so my interest payments would be as low as possible, but I want to make sure Capital One will not penalize me. That's what I need to find out.

While I want the score increase, right now, I'm more concerned about the money I'm losing because of the interest. Oh the things I have learned...I've paid enough interest, I'm not trying to pay another penny in interest if I can help it. While I don't want to take away from my savings to do so, I think it makes the most sense especially since I'm losing more money in interest on my car than gaining in the bank! 

Thanks for the feedback about the cards. My thought was to get those to help improve my overall profile and prepare my profile for building my business credit which I'll be preparing to do within the next 6 months. 

[credit8502020]

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@Anonymous wrote:

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@credit8502020 wrote:

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@Anonymous Ok. Thank you! So outside of the 1 late payment, you gather that those almost 60 points could just be from age? Although I know the points in the example aren't exact, I'm just using it as gauge. (850-30 (for the late)=820-761=59.

Ok re: AOD. I'll look back into them. Figured since I don't work for any of those ocmpanies and did not have any immediate family members that I was not eligible to join. I was going by what's on the website, but will definitely look deeper. Thanks again! 

---

@credit8502020 no I don't think you're losing 60 points from age. did you say it's a 30 day late? How old is it? Is that version eight score? Which bureau? Let me go back and look at your profile statistics because I know you put them above. 

yes join the bike club and that is an SEG that allows you guaranteed membership into AOD. Do you need that card do that. 

---

@Anonymous Yes. 30 day late. October 2018 on a closed Discover account. Yes. FICO 8 on Experian.

Ok. Thanks regarding the bike club! The only reason I wanted that card is because I only have 2, 1.5% cards for everything. I was looking for either a 2% card, ideally with a sign up bonus or this AOD card. I've been looking at which 2% or 3% card and scenario fits my overall spending best. Thanks! 

---

@credit8502020 since the 30 day late is over two years old and is isolated, you're probably still losing 30 points on it till it drops. 761+30=791. 59 points on table, really more because of the buffer. Your loan utilization is not under 9.5% is it? That could be good for ~20 points.  

list your profile statistics for me again, let's see where the rest of the points are, or tell me what post it is in and I'll go re-read it. I'm sorry, I'll admit it I'm lazy. Long day. Lol. 

---

@Anonymous Ok. Good to know. I was factoring about 30 points. It's perfectly fine. I appreciate you helping me consider where I can gain more points. Based on your other reply you mentioned that its coming from the newer account score card (10-20 points) and my utilization on my car. Perhaps, I'm missing some points for not putting a balance on the AU card and not implementing "real" AZEO.

You know what's interesting, my EX 2 is 796. Which I'm obviously happy about, but I find it interesting that it is higher than my Ex FICO 8. I'm not complaining though at all! LOL! 

3 Primary Cards & 1 AU Card

Capital Bank - $750
Capitol One - $3500
1 AU Home Depot Card - $3700
NFCU Cash Rewards - $22,000

New Cards - (Haven't Posted Yet)

Elan Financial - $20,000

NFCU Platinum - $25,000

1 Auto Loan

I didn't see all of the abbreviations on the list, so I figured I'd type them out. Did the "R" stand for Revolving? ***These are not based on my 2 new cards that have not posted yet.***

AoOA = Age of Oldest Account - AU - 25 yrs (Revolver), Primary - 20 yrs. (Installment)
AAoA = Average Age of Accounts - 11.8 yrs 
AoYA = Age of Youngest Account: Almost 5 months
AoYRA = Age of Youngest Revolving Account: Almost 5 months
AoORA = Age of Oldest Revolving Account: AU - 25 years, Primary - 4 yrs
AAoRA = Average Age of Revolving Accounts - 8 yrs 3 months (This is for open accounts. If the calculation is supposed to include closed accounts, please let me know.) ***It's about 9 yrs with my closed accounts.***
Other Experian details in case it's helpful:

Closed Installment

Navient - Paid as agreed

Opened: 11/2000
Closed Revolver

Discover

L: $10,600

Late: 1-30 day, October 2018

Opened: 1/2003

Closed: I don't see the date on my reports, but I think it was closed around 2014.

[Anonymous]

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@credit8502020 wrote:

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@Anonymous wrote:

@credit8502020 OK you're in a new account scorecard that's good for 10 to 20 points. Your age of oldest Revolving Account is very low unless the authorized user account is counting. Did you ever test that?

May I assume that you are practicing AZEO and have utilization under 5% on everything? May I assume your balances are low? 

You may be leaving points on the table depending on what your car loan utilization is at.

I also think adding the two bankcards you just added will help even though in the short term it results in a reduction, in the long term I think it will help.

---

@Anonymous Thank you for helping me see where those points may be! I really appreciate it. I think the Authorized User Account is counting. What's considered a midrange age of an oldest revolving account? 

Yes. I'm practicing AZEO. However, I haven't been doing AZEO with my one account AND with the AU account because I've been focusing on Mother being able to practice AZEO first and foremost and my AU account is her primary. Sooo...I guess I haven't really been practicing "real" AZEO then. LOL!

Yes. My only reporting balance is $10 on my NFCU card. I was planning to switch up in March to see if changing the $10 balance to my Capital One card makes any difference. 

Yes, you're right! I forgot about my car utilization points. I'm at about 16% on my car. I could get it down to 8.9% but I just want to make sure I do it properly. According to my terms, the loan would mature in November. Although I could pay it off sooner, my understanding is that it was not best to do so. The main reason I want to pay it down really low is because of the higher interest rate (14%). So the plan I am considering is to pay the principle down to a really low amount, even lower than the 8.9% so my interest payments would be as low as possible, but I want to make sure Capital One will not penalize me. That's what I need to find out.

While I want the score increase, right now, I'm more concerned about the money I'm losing because of the interest. Oh the things I have learned...I've paid enough interest, I'm not trying to pay another penny in interest if I can help it. While I don't want to take away from my savings to do so, I think it makes the most sense especially since I'm losing more money in interest on my car than gaining in the bank! 

Thanks for the feedback about the cards. My thought was to get those to help improve my overall profile and prepare my profile for building my business credit which I'll be preparing to do within the next 6 months. 

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@credit8502020 if the authorized user account is counting, yes you're losing points for not having a balance on it. The AU AZ loss. 

I don't know what the mid range is for oldest Revolving Account. We've only recently been collecting data points but the highest I've seen is around 10 years, I think. That doesn't mean there could not be higher thresholds. Indeed we don't know a lot about those.  

you could be getting more points on 8/9 if you had ideal loan utilization, but your version 2 score is higher because those points will not be awarded there.

yes Finances over Ficos. Get it down under 9.5% and save that interest. 

you need to test that authorized user card, because if it's not counting, that's a big hole in your age of oldest Revolving Account on 8/9.