@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:Perfect. Thanks for all the info with the links.
So with AU, it appears we will still get a bump from the age on all mortgage scores. EX mortgage will ignore the payment history, balance and 30k CL.
EQ mortgage/TU mortgage will count the AU since it is under 35k. But we will get hit with 2 balances metric.
My hope is the positives will outweigh the negatives in our specific scenario and get all of our mid scores to 660
I will keep you updated between now and the 23rd!
@Anonymous I believe you have a pretty firm grasp of the concept. And I believe you're correct that it will still contribute to ages at Experian, but I can't guarantee that.
I would be very grateful if you would give me your before and after scores and Reason Codes when it reports, and we will try to confirm that. But I do believe you're correct.If you had the time, the best way if possible would be to zero the authorized user account that has the big credit limit if possible. Then it would benefit all three potentially and you would only have one account with a balance at all three from different cards, like your existing set up. But I don't know if you can get that zeroed out? because like you said, otherwise you will have two cards with the balance at two bureaus.
Now that AZEO is on all of our mortgage scores, We just pulled our EX and EQ mortgage scores today. We did not pull updated TU for an additional $30 right now because its lower. So the TU scores are without any azeo updates.
Mine:
EX 649 (azeo +4)
EQ 659 (azeo +13)
TU 634 (w/out update)
Wife:
EX 657 (azeo +13)
EQ 649 (azeo +0)
TU 604 (w/out update)
AZEO helped a lot, but we are still short of the 660 mid score requirement.
Her Aunt's 30k CL 10+ year old excellent payment history AU will get reported to our Credit bureaus on Friday, November 20th ( Her Aunt advised payment due date is 17th)
So a week from today, on November 22nd, we will check for the updates and see if our scores got to 660!
We are really hoping her Aunt AU gets us to 660 on EX and EQ mortgage scores!
If they are not, our mortgage guy said he can do rapid rescore to zero the credit one to see if that will do it.
Will let you know next Sunday, the 22nd!
@Anonymous congratulations on the increases. You're going to need the aunt's revolver to report with a zero balance. If it does, you will surpass 660 and the wife may hopefully.
At Experian, we have to hope that it will still be taken into account on the Aging Metrics and # of accounts despite exclusion from utilization.
At EX it wouldn't matter if Aunt's
had a balance (but it will at EQ), but if you zero the credit one you'll get a loss at EX, so you can't do that.
can you get the aunt's to report with a zero balance? I think that your best hope.
Maybe @ThomasThumb or @Revelate or another knowledgeable member knows whether accounts that are excluded due to high CL are still taken into account for aging purposes?
I'm pretty sure they count on EX2.
There isn't any real way to test that concretely with my profile unfortunately but I do know my 43.5K CSR counts for some metrics but not others when it comes to EX FICO 2 scoring, and if there is anything that counts about a tradeline, age metrics are a pretty safe bet.
Ultimately there's only so much you can do other than having time pass, but for mortgage scores a high quality AU (read as longer than your current AAOA and AOYRA, and $0 and clean payment history) is hard to go wrong with.
I guess you could zero out other accounts too and just have the AU with balance but with something as important as a mortgage I always want my own single balance on my own tradeline (usual other bits apply, national bankcard and 25K or under CL just to be sure for me anyway). AUs are a little strange sometimes maybe through reporting idiosyncracies though they are supposed to count full monty FICO04 and earlier which all of the traditionally used mortgage scores are from those models, high CL weirdness not withstanding.
