@Anonymous wrote:
SJ Interesting. Perhaps you’re correct.
Apparently the MF frontend may be considered more reliable than any of the other frontends, per what we learned from the experts and we also know how it’s rounded now.
So we know a little more now than we did at the time of that thread. I’ve also learned some weird things about how HELOCs are calculated at EQ. I need to go back and read that thread and apply the knowledge and see what I come up with.
Do you have any of those past posts handy that you’re speaking of? I haven’t researched it again lately. but I remember before it was conflicting.
But I can conclusively say that logic has nothing to do with it! 😉 but I do admit it is logical.
No but I do remember that the first time I learned of it was from Thomas_Thumb.
Before that I had been reading, and believing, statements in this forum that closed accounts with balances are automatically treated as maxed out accounts with zero credit limits. I even passed that 'collective wisdom' along until I learned otherwise.
One of the problems with testing this is that few of us actually have closed accounts with balances. Normally if we close an account it's an account that's been zeroed out.
The way I learned of it in my personal sphere was through Bank of America's closing my accounts -- for reasons unknown but somehow related to 'market conditions' -- when I had substantial balances receiving the benefit of a 0% APR in 2 of the accounts (for all I know, maybe those were the reasons BOA cut me off). So I nursed those accounts along for quite awhile, and developed a clear understanding of how the closed-account-with-balance thing works.
If you have an account you're thinking of closing, why not leave a small balance on it and see what happens 
@SouthJamaica wrote:
@Anonymous wrote:
SJ Interesting. Perhaps you’re correct.
Apparently the MF frontend may be considered more reliable than any of the other frontends, per what we learned from the experts and we also know how it’s rounded now.
So we know a little more now than we did at the time of that thread. I’ve also learned some weird things about how HELOCs are calculated at EQ. I need to go back and read that thread and apply the knowledge and see what I come up with.
Do you have any of those past posts handy that you’re speaking of? I haven’t researched it again lately. but I remember before it was conflicting.
But I can conclusively say that logic has nothing to do with it! 😉 but I do admit it is logical.No but I do remember that the first time I learned of it was from Thomas_Thumb.
Before that I had been readng, and believing, statements in this forum that closed accounts with balances are automatically treated as maxed out accounts with zero credit limits. I even passed that 'collective wisdom' along until I learned otherwise.
One of the problems with testing this is that few of us actually have closed accounts with balances. Normally if we close an account it's an account that's been zeroed out.
The way I learned of it in my personal sphere was through Bank of America's closing my accounts -- for reasons unknown but somehow related to 'market conditions' -- when I had substantial balances receiving the benefit of a 0% APR in 2 of the accounts (for all I know, maybe those were the reasons BOA cut me off). So I nursed those accounts along for quite awhile, and developed a clear understanding of how the closed-account-with-balance thing works.
If you have an account you're thinking of closing, why not leave a small balance on it and see what happens
@SouthJamaica yeah I don't go for that maxed out theory either. And you know what, I am thinking of closing one, so I just may do that, that's a good idea actually!
@Anonymous wrote:So if closed accounts with a balance aren't seen as a maxed out account by the algorithm, where the heck did all of this discussion (years, it seems) that they are seen as maxed out accounts come from? I mean, an individual account that's maxed out on a low utilization profile has got to impact what, 15-20 points even if the needle on aggregate doesn't move much right? It would seem to me that it would be a pretty obvious score-changing event if it did in fact count.
I would not be surprised if on occasion it actually did happen.
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
SJ Interesting. Perhaps you’re correct.
Apparently the MF frontend may be considered more reliable than any of the other frontends, per what we learned from the experts and we also know how it’s rounded now.
So we know a little more now than we did at the time of that thread. I’ve also learned some weird things about how HELOCs are calculated at EQ. I need to go back and read that thread and apply the knowledge and see what I come up with.
Do you have any of those past posts handy that you’re speaking of? I haven’t researched it again lately. but I remember before it was conflicting.
But I can conclusively say that logic has nothing to do with it! 😉 but I do admit it is logical.No but I do remember that the first time I learned of it was from Thomas_Thumb.
Before that I had been readng, and believing, statements in this forum that closed accounts with balances are automatically treated as maxed out accounts with zero credit limits. I even passed that 'collective wisdom' along until I learned otherwise.
One of the problems with testing this is that few of us actually have closed accounts with balances. Normally if we close an account it's an account that's been zeroed out.
The way I learned of it in my personal sphere was through Bank of America's closing my accounts -- for reasons unknown but somehow related to 'market conditions' -- when I had substantial balances receiving the benefit of a 0% APR in 2 of the accounts (for all I know, maybe those were the reasons BOA cut me off). So I nursed those accounts along for quite awhile, and developed a clear understanding of how the closed-account-with-balance thing works.
If you have an account you're thinking of closing, why not leave a small balance on it and see what happens
@SouthJamaica yeah I don't go for that maxed out theory either. And you know what, I am thinking of closing one, so I just may do that, that's a good idea actually!
And if you do it, and it turns out to be treated as a maxed out account and all your scores plummet -- you can console yourself with how good it felt to prove me wrong about something, something you've never yet accomplished
@SouthJamaica wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
SJ Interesting. Perhaps you’re correct.
Apparently the MF frontend may be considered more reliable than any of the other frontends, per what we learned from the experts and we also know how it’s rounded now.
So we know a little more now than we did at the time of that thread. I’ve also learned some weird things about how HELOCs are calculated at EQ. I need to go back and read that thread and apply the knowledge and see what I come up with.
Do you have any of those past posts handy that you’re speaking of? I haven’t researched it again lately. but I remember before it was conflicting.
But I can conclusively say that logic has nothing to do with it! 😉 but I do admit it is logical.No but I do remember that the first time I learned of it was from Thomas_Thumb.
Before that I had been readng, and believing, statements in this forum that closed accounts with balances are automatically treated as maxed out accounts with zero credit limits. I even passed that 'collective wisdom' along until I learned otherwise.
One of the problems with testing this is that few of us actually have closed accounts with balances. Normally if we close an account it's an account that's been zeroed out.
The way I learned of it in my personal sphere was through Bank of America's closing my accounts -- for reasons unknown but somehow related to 'market conditions' -- when I had substantial balances receiving the benefit of a 0% APR in 2 of the accounts (for all I know, maybe those were the reasons BOA cut me off). So I nursed those accounts along for quite awhile, and developed a clear understanding of how the closed-account-with-balance thing works.
If you have an account you're thinking of closing, why not leave a small balance on it and see what happens
@SouthJamaica yeah I don't go for that maxed out theory either. And you know what, I am thinking of closing one, so I just may do that, that's a good idea actually!
And if you do it, and it turns out to be treated as a maxed out account and all your scores plummet -- you can console yourself with how good it felt to prove me wrong about something, something you've never yet accomplished
@SouthJamaica it has never been my aim to prove you or anyone wrong. But you can't prove anyone wrong, if they don't take a position and always say I don't know.
However you didn't believe that balances were taken into account, but we now know they are. You held loans reassigned someone into a new account scorecard, but I discovered, and it has subsequently been confirmed repeatedly, that they do not. 😉 but you've also been right about things as well.
i'm just here to learn and help people, my friend, not to prove anyone wrong.
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
SJ Interesting. Perhaps you’re correct.
Apparently the MF frontend may be considered more reliable than any of the other frontends, per what we learned from the experts and we also know how it’s rounded now.
So we know a little more now than we did at the time of that thread. I’ve also learned some weird things about how HELOCs are calculated at EQ. I need to go back and read that thread and apply the knowledge and see what I come up with.
Do you have any of those past posts handy that you’re speaking of? I haven’t researched it again lately. but I remember before it was conflicting.
But I can conclusively say that logic has nothing to do with it! 😉 but I do admit it is logical.No but I do remember that the first time I learned of it was from Thomas_Thumb.
Before that I had been readng, and believing, statements in this forum that closed accounts with balances are automatically treated as maxed out accounts with zero credit limits. I even passed that 'collective wisdom' along until I learned otherwise.
One of the problems with testing this is that few of us actually have closed accounts with balances. Normally if we close an account it's an account that's been zeroed out.
The way I learned of it in my personal sphere was through Bank of America's closing my accounts -- for reasons unknown but somehow related to 'market conditions' -- when I had substantial balances receiving the benefit of a 0% APR in 2 of the accounts (for all I know, maybe those were the reasons BOA cut me off). So I nursed those accounts along for quite awhile, and developed a clear understanding of how the closed-account-with-balance thing works.
If you have an account you're thinking of closing, why not leave a small balance on it and see what happens
@SouthJamaica yeah I don't go for that maxed out theory either. And you know what, I am thinking of closing one, so I just may do that, that's a good idea actually!
And if you do it, and it turns out to be treated as a maxed out account and all your scores plummet -- you can console yourself with how good it felt to prove me wrong about something, something you've never yet accomplished
@SouthJamaica it has never been my aim to prove you or anyone wrong. But you can't prove anyone wrong, if they don't take a position and always say I don't know.
However you didn't believe that balances were taken into account, but we now know they are. You held loans reassigned someone into a new account scorecard, but I discovered, and it has subsequently been confirmed repeatedly, that they do not. 😉 but you've also been right about things as well.i'm just here to learn and help people, my friend, not to prove anyone wrong.
I know, I was just kidding.