How long does it take before your profile hits 800+ FICO 8 without an active installment loan?

[BrutalBodyShots]

It's not an argument, it's a civil debate. Your deflective response however has concluded it, so you're absolutely correct that no further discussion is needed.

[ElvisCaprice]

---

@FICOdawg wrote:

---

@Thomas_Thumb wrote:

^ Agreed.

Some people just don't get it and never will. I'm looking forward to the impact of dropping # of cards with balances on your scores.

---

Correct.    Wish I had been more diligent to maximize my FICO before the last two years.    You never know when or how a FICO score will come in handy.

     If you wait until you need it, you're late 🤦‍♂️

---

     You misread the context or meaning of that post.  It's about the game (nerding) with the numbers and their impact on FICO that @Thomas_Thumb  is interested in.   I get that.

     But, the personal impact (for revolver application submission) remains meaningless to a Clean Thick Mature Scorecard.  

     Same can be said for sock drawering CC's for age.   It has no bearing on a Clean Thick Mature Scorecard, since FICO score doesn't matter.  And like @BrutalBodyShots  says, there does exist risk to the Clean side of the scorecard by sock drawering CC's.  This is YMMV, and for those that can manage properly, a sock drawered CC, which I would treat as active, they can continue on just fine. 

     But then if one realizes that it doesn't add anything (sock drawered CC's) to ones abilities for CC app approvals, with a clean thick mature scorecard.  Why keep them open?

[BrutalBodyShots]

---

@ElvisCaprice wrote:

---

     But then if one realizes that it doesn't add anything (sock drawered CC's) to ones abilities for CC app approvals, with a clean thick mature scorecard.  Why keep them open?

---

I think most people are just too fixated on "score" when like you said, credit profile is what matters. Most probably haven't actually seen an old card fall off of their reports to see what (if any) impact it has on their FICO scores, so they are more or less just riding the "you should never close an old card!" narrative. There are so many sources out there that provide misinformation saying that closing an old card will "tank your credit" that most people believe them. It is what it is, and I get it if someone feels better by keeping old unused/unwanted cards open. BUT, to suggest that there's "no downside" or risk associated with doing so is untrue. If one is willing to monitor those accounts monthly like you say just as if they were being used every month, the potential detriment can be avoided. If that's the case though, it should be mentioned when offering such advice... as most people roll with a "sock drawer and forget it" approach and the "forget it" is what ends up biting them in the rear at some point.

[Patient957]

---

@BrutalBodyShots wrote:

---

@ElvisCaprice wrote:

---

     But then if one realizes that it doesn't add anything (sock drawered CC's) to ones abilities for CC app approvals, with a clean thick mature scorecard.  Why keep them open?

---

I think most people are just too fixated on "score" when like you said, credit profile is what matters. Most probably haven't actually seen an old card fall off of their reports to see what (if any) impact it has on their FICO scores, so they are more or less just riding the "you should never close an old card!" narrative. There are so many sources out there that provide misinformation saying that closing an old card will "tank your credit" that most people believe them. It is what it is, and I get it if someone feels better by keeping old unused/unwanted cards open. BUT, to suggest that there's "no downside" or risk associated with doing so is untrue. If one is willing to monitor those accounts monthly like you say just as if they were being used every month, the potential detriment can be avoided. If that's the case though, it should be mentioned when offering such advice... as most people roll with a "sock drawer and forget it" approach and the "forget it" is what ends up biting them in the rear at some point.

---

That's what autopay is for.  But yeah, it's definitely required to periodically check SD accounts, because you never know when you might get dropped somehow from autopay.  System glitch or whatever.  I log in, check that my balance is zero, confirm autopay is on, and log out.  Takes 60 seconds, max.

[BrutalBodyShots]

---

@Patient957 wrote:

---

---

That's what autopay is for.  But yeah, it's definitely required to periodically check SD accounts, because you never know when you might get dropped somehow from autopay.  System glitch or whatever.  I log in, check that my balance is zero, confirm autopay is on, and log out.  Takes 60 seconds, max.

---

Right on, @Patient957. Auto pay probably takes care of 99% of the issues, but there's always that small percentage of cases where like you said, auto pay fails for whatever reason. Some people change bank accounts for example when you're talking extended periods of time, so auto pay could end up being on an account that no longer exists. So long as one is monitoring their accounts monthly just like you said, it's a non issue. The truth however is that in many cases when you're talking accounts that one no longer sees value in, the odds of committing to checking in on that account every single month, year after year, or even decade after decade aren't great. I guess I've just seen one too many horror stories surrounding this subject, so I think it's super important to create awareness.

[crystal626]

Going to shift most of my spend to my AOD card this month. My Discover will also go to $0 this month. 

Interestingly, I lost 3 points on Equifax on my FICO 8 the other day for seemingly no reason. myFICO didn't show any balance changes from the day prior, there were no new inquiries, nothing fell off, but I took a 3 point hit to 785. 

[BrutalBodyShots]

---

@crystal626 wrote:

Interestingly, I lost 3 points on Equifax on my FICO 8 the other day for seemingly no reason. 

---

What changed between your before and after reports?

[crystal626]

---

@BrutalBodyShots wrote:

---

@crystal626 wrote:

Interestingly, I lost 3 points on Equifax on my FICO 8 the other day for seemingly no reason. 

---

What changed between your before and after reports?

---

Not a single thing I can see. No balances changed, nothing fell off, nothing was added. I'm completely stumped.

[BrutalBodyShots]

How about your age of accounts metrics? 

[crystal626]

---

@BrutalBodyShots wrote:

How about your age of accounts metrics? 

---

 5y8m on EQ.