It’s True

[Anonymous]

Yup, the points come back just as easily as they go away for an AZ penalty.  Glad to hear that.

I don't really look at it as being punished though.  The algorithm has to see utilization to have data to go off of.  Think of someone that's extremely financially responsible and only deals in cash, never using credit.  No data to go off of, so no score... where in terms of risk they're an 850.

[joeyv1985]

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@Anonymous wrote:

Yup, the points come back just as easily as they go away for an AZ penalty.  Glad to hear that.

I don't really look at it as being punished though.  The algorithm has to see utilization to have data to go off of.  Think of someone that's extremely financially responsible and only deals in cash, never using credit.  No data to go off of, so no score... where in terms of risk they're an 850.

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10-4. Too bad my Amex Plat doesn't factor more into the scoring model.

[joeyv1985]

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@Anonymous wrote:

Yup, the points come back just as easily as they go away for an AZ penalty.  Glad to hear that.

I don't really look at it as being punished though.  The algorithm has to see utilization to have data to go off of.  Think of someone that's extremely financially responsible and only deals in cash, never using credit.  No data to go off of, so no score... where in terms of risk they're an 850.

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Got another one BBS. Transunion is up 11 pts to 797. Highest Fico 8 yet. 

[Anonymous]

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@joeyv1985 wrote:

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10-4. Too bad my Amex Plat doesn't factor more into the scoring model.

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Yeah, charge cards are different animals.  From what I've read of them there are little to no benefits of having them when it comes to Fico scoring.  When I was rebuilding I was considering one because I thought it could help my credit mix or some slice of the Fico pie, but ultimately I decided against it.

[Anonymous]

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@joeyv1985 wrote:

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Got another one BBS. Transunion is up 11 pts to 797. Highest Fico 8 yet. 

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Sweet, nice gain and congrats!  Was the change that caused the 11 point increase the reporting of a balance / eliminating the AZ penalty?

[joeyv1985]

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@Anonymous wrote:

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@joeyv1985 wrote:

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Got another one BBS. Transunion is up 11 pts to 797. Highest Fico 8 yet. 

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Sweet, nice gain and congrats!  Was the change that caused the 11 point increase the reporting of a balance / eliminating the AZ penalty?

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Thanks. Correct. I now show 1 CC out of 4(Sans the Amex Plat) reporting a balance. The $23 reporting  is only .0713% of my total balance across all cards.  

[joeyv1985]

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@joeyv1985 wrote:

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@Anonymous wrote:

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@joeyv1985 wrote:

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Got another one BBS. Transunion is up 11 pts to 797. Highest Fico 8 yet. 

---

Sweet, nice gain and congrats!  Was the change that caused the 11 point increase the reporting of a balance / eliminating the AZ penalty?

---

Thanks. Correct. I now show 1 CC out of 4(Sans the Amex Plat) reporting a balance. The $23 reporting  is only .0713% of my total balance across all cards.  

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Experian just reported a 22 pt increase of my Fico 8 to 788. I feel whole again:-) Thanks for the info BBS.

[Anonymous]

Sweet and congratulations!

[joeyv1985]

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@Anonymous wrote:

Sweet and congratulations!

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Thank you. This is the highest my Fico 8's have been(777-797). I have several CC's that will age past 12 months once Q1 is over. Hopefully, this will push my 8's over 800. However, I have a car loan that I PIF in December that's probably going to report next month so it's going to be interesting how much that will affect my scores. We will see. 

[Anonymous]

Was that car loan your only open loan, or do you have another?