@OscarsMomThe loan one is frustrating, however I think how it's presented is important. The points lost for paying it off are effectively losing a bonus you gain when the loan is below 9%. If you pay it off in full when you have 25% remaining you'll never have seen those extra points in the first place. That being said, I think there's plenty to argue with FICO for their conclustion that having a low remaining balance installment loan make you a lower risk than having just paid off your loan (personally I tend to think that's a crock of it, but I don't make the models).
@Zoostation1 wrote:@OscarsMomThe loan one is frustrating, however I think how it's presented is important. The points lost for paying it off are effectively losing a bonus you gain when the loan is below 9%. If you pay it off in full when you have 25% remaining you'll never have seen those extra points in the first place. That being said, I think there's plenty to argue with FICO for their conclustion that having a low remaining balance installment loan make you a lower risk than having just paid off your loan (personally I tend to think that's a crock of it, but I don't make the models).
I've been complaining about that trash forever!
Starting Score: 469Current Score: 819
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge
Lower revolving utilization does not cause one's score to drop, with the sole exception being all zeros.
@Tiersha wrote:I know you have said this multiple times however every time i go to azeo my scores drop, every single time.
Maybe the card you are using as your balance-reporting card is the type that gets overlooked, such as a store card, or a credit union card, or a very high limit card, or a Chase card. You should probably stop doing azeo and should instead leave 2 or 3 small balances reporting.