I charged something on my Citi Double Cash on my statement closing date. I thought it would pend, but not post until the following day. It did post which gave me 1.3% utilitization on the revolving credit line. I've another credit card at 18.3%. The remaining 4, where I'm the responsible party are at 0%.
Now I did let the one revolving line where I'm an authorized user reach extactly 1%.
Overall, my utilization decreased from 6% to 5%. Of course, my accounts all aged one month.
Anyone have an idea which of the above factors got me the 8 points that I needed to reach 800?
It could be an individual utilization dropping below a threshhold because I don't believe going overall from 6 to 5% would do much. Likely could be an aging metric, newest account aged past 24 months or AAoA went over 6 years just as a couple of examples where I saw bumps.
I will say that AUs behave weirdly, so that's a wrinkle. Especially when it comes to different scoring models, newer versus older.
PS Congrats on 800! well done!
@D10001 wrote:I charged something on my Citi Double Cash on my statement closing date. I thought it would pend, but not post until the following day. It did post which gave me 1.3% utilitization on the revolving credit line. I've another credit card at 18.3%. The remaining 4, where I'm the responsible party are at 0%.
Now I did let the one revolving line where I'm an authorized user reach extactly 1%.
Overall, my utilization decreased from 6% to 5%. Of course, my accounts all aged one month.
Anyone have an idea which of the above factors got me the 8 points that I needed to reach 800?
It's a common misconception here that AZEO is likely to get you points in FICO 8 scores. It rarely makes a difference whether you have 1 account reporting a balance, or instead have 2 or 3, or even more in some profiles. In my profile it wouldn't make a difference to my FICO 8 scores if I had 1 account reporting a balance or 6.
AZEO is really just a sort of insurance policy, to ensure that there isn't a single FICO scoring model in which you would be penalized for having too many accounts with a balance. It's much more likely to make an actual difference in the older scoring models, like the mortgage scores.
I have no idea which event to which you pointed gave you an 8 point FICO 8 score increase, but if I had to guess my guess would be "none of the above, unless an age profile which you haven't mentioned was crossed".
Congrats on the 800!
Most of the time, a 8 pt or less change comes from inqs aging or new account becoming less new.
