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Question MF Family - Not asking about my math just my general thought process or logic
Added my mothers Citi Sears card with 22 years of history but 89% utilization (I didn't know about the utilization until it was too late). It appeared it did impact my profile (positively due to almost doubling AAOA & AOOA) initially but I'm still questioning this because I had so much going on at the time. New accounts, installment loan, disputes, etc.. My overall utilization is currently at 76% according to the front end which is unreliable at best. On my 3B report it appears it didn't count this in my utilization. However, at the exacty time this AU showed up I achieved roughly 15 point gains accross the board.
IF my new cards below report (not including the BB&T) my utilization should drop 2 thresholds I believe. Which should be around 30 points increased? Taking my overall utilization from 76% to 41.15%.
I've got 3 cards that reported on the following dates:
11/21/18: Cap 1 - AU $8500 SL (25% UT)
11/20/18: NFCU Go Rewards - $1k SL
BB&T Spectrum in mail $3500 SL (This would further pad my SL's)
Are you able to control the balance on your mother's card? (I.e. will she pay it down if you ask her to?)
If so, the way to definitively show whether FICO 8 is counting the AU card as part of your score is as follows:
Create a stable profile: one that doesn't have a lot of stuff changing in it.
In particular make sure your CC balances are fairly low: your total utilization (your cards only) at under 28% and the AU card also at under 28%.
Pull your three FICO scores.
Then pay off all your cards, leaving the AU card with a positive balance.
Then pull your scores again.
If your FICO 8 scores go down, it means that FICO 8 is not counting the AU card, thinks that all your cards are at zero, and therefore is imposing the "all cards at zero" penalty.
If the score goes up or stays about the same, it means the AU card is being counted.
@Anonymous wrote:Create a stable profile: one that doesn't have a lot of stuff changing in it.
Along with CreditGuy's good idea on how to handle this, I believe his comment about the stable profile is very important when attempting to do this. Having a lot of moving parts is not helpful in figuring out exactly where you stand, let alone trying to single out or test something like your AU situation. Once the dust settles from this recent activity, it should be easier to grasp how the AU is effecting your score.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |