HERE'S THE SKINNY ON ZERO BALANCES

[Anonymous]

I inadvertently let my accounts report zero balances.  Here's

what happened.

EQ - gained back 4 pts of the 8 Iost last month.

802-8=794

794+4=798

TU - lost 12 pts for not using credit.  WTF?   This not what the score simulator said.

         Says the average high achiever has at least $5000 in debt?????

Is TU alright.  I am going to freeze them and not order any more reports from them.

EX - 782--stayed the same.

[MarineVietVet]

---

@Anonymous wrote:

I inadvertently let my accounts report zero balances.  Here's

what happened.

EQ - gained back 4 pts of the 8 Iost last month.

802-8=794

794+4=798

TU - lost 12 pts for not using credit.  WTF?   This not what the score simulator said.

         Says the average high achiever has at least $5000 in debt?????

Is TU alright.  I am going to freeze them and not order any more reports from them.

EX - 782--stayed the same.

---

That's why it's called a simulator and why I never use such things. The real world can't be simulated or estimated by a software program. 

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[Anonymous]

Well I believe I know that.  But it does give you a range

which is better than nothing.

Last month I was dinged for 3 accts reporting and now

it's because I don't have any.

EX is the only CRA that doesn't play those head games.

Point being:  Don't rub it in. 

If not helpful than what?

PS:  I thought you would pick up on the fact that I was trying

to be informative

[fused]

In the past, I have lost quite a few points with TU when I had 0% util reporting. Here's where things got very strange. The only CC that I allow to report a small balance is my CITI Dividend Platinum Select MC. Last month it was reporting a balance of $56. This month it is reporting a balance of $58. This card has been converted into a World MC (reports like a signature card) and it doesn't report a CL or a high balance. It only reports the statement balance. Even though I haven't received the new card, CITI has already reported the changes (thank goodness no dupe account reported). Since this card doesn't report a CL or a high balance, it won't factor in FICO util calculations.

Here are the only differences between my June pull and my July 23rd pull:

- Balance on CITI card went from $56 to $58, everything else has $0 balances

- This CITI card turned 3 years old

- This card no longer factors in FICO util calculations

- Util went from 1% to 0%

What happened to my TU score? It moved up, from 806 to 809. I was shocked. Of course, I'm happy.

[Anonymous]

Thanks for that fused.  0% utilization.

Yours went up--mine went down.  TU has always been

strange.

I had to dispute an acct. once that was taken

over by FDIC.  TU took it off my whole history

instead of noting the reason for acct. closure.

Consequently they have my history a year shorter than the

other CRA's.

[fused]

This is the first time zero util gave me some points. I have to wonder if my CITI card turning three years old had much of an impact. I will never really know.

[Anonymous]

here's the difference.  TU took 12 pts.  Isn't that

excessive?

EQ gave me 2 pts

EX did not do anything.

I just find this amazing especially TU and EQ

BTW  What's a community leader?

[fused]

---

@Anonymous wrote:

here's the difference.  TU took 12 pts.  Isn't that

excessive?

I just find this amazing especially TU and EQ

BTW  What's a community leader?

---

IIRC, in the past, I lost more than 15 points on TU for 0% util reporting.

Here's the thread on Community Leaders

[tvholic]

I have 4 credit cards, and when I tested last year my optimal EQ score (802) was with 1 card reporting a balance.

0 cards = -4 points

2 cards = -10 points

4 cards = -33 points

In all cases, total and per-card utilization was < 3%.

[vanillabean]

---

@tvholic wrote:

I have 4 credit cards, and when I tested last year my optimal EQ score (802) was with 1 card reporting a balance.

0 cards = -4 points

2 cards = -10 points

4 cards = -33 points

In all cases, total and per-card utilization was < 3%.

---

Thank you for the feedback. My recent findings align very closely with yours.