One less CC reporting: 4 point gain

[cem13]

In April I opened 10 new credit lines and I charged a small amount to each.  I say a several point drop but I could not quantify when the drop came from because my AAOA dropped along with the INQ and number of cards reporting.

I am paying in full this month and today I went from 5 cards reporting to only 4 cards reporting a balance and I have a 4 point bump.  I had all 9 reporting earlier but I did not see an increase until I had only 4 credit cards reporting.  I will have only 1 reporting by the end of the month so we shall see.

My utilization is less than 4% so as they report $0, Util is not the reason for the bump. 

I hope to see a few points for each card reporting $0.

[Scupra]

To optimize FICO you need all cards reporting 0 and one reporting 1-9% util. As you get closer to achieving that you will see score increases FICO looks at overall util and per card util

[Anonymous]

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@cem13 wrote:

In April I opened 10 new credit lines and I charged a small amount to each.  I say a several point drop but I could not quantify when the drop came from because my AAOA dropped along with the INQ and number of cards reporting.

I am paying in full this month and today I went from 5 cards reporting to only 4 cards reporting a balance and I have a 4 point bump.  I had all 9 reporting earlier but I did not see an increase until I had only 4 credit cards reporting.  I will have only 1 reporting by the end of the month so we shall see.

My utilization is less than 4% so as they report $0, Util is not the reason for the bump. 

I hope to see a few points for each card reporting $0.

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Close out that UM card and your scores will skyrocket  :-)

[Revelate]

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@cem13 wrote:

In April I opened 10 new credit lines and I charged a small amount to each.  I say a several point drop but I could not quantify when the drop came from because my AAOA dropped along with the INQ and number of cards reporting.

I am paying in full this month and today I went from 5 cards reporting to only 4 cards reporting a balance and I have a 4 point bump.  I had all 9 reporting earlier but I did not see an increase until I had only 4 credit cards reporting.  I will have only 1 reporting by the end of the month so we shall see.

My utilization is less than 4% so as they report $0, Util is not the reason for the bump. 

I hope to see a few points for each card reporting $0.

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Many thanks for the datapoint!

I'd seen "less than half" with my own testing too, if I had to guess based on my own data you'll get a bump at 2 cards reporting a balance and be the same at 1 card.  That's what holds with my 9 revolving tradelines, wouldn't think there's a difference at 10 but I'll be looking for your results!

Actually I need to go make that consolidated thread, lazy me lately!

[NRB525]

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@cem13 wrote:

In April I opened 10 new credit lines and I charged a small amount to each.  I say a several point drop but I could not quantify when the drop came from because my AAOA dropped along with the INQ and number of cards reporting.

I am paying in full this month and today I went from 5 cards reporting to only 4 cards reporting a balance and I have a 4 point bump.  I had all 9 reporting earlier but I did not see an increase until I had only 4 credit cards reporting.  I will have only 1 reporting by the end of the month so we shall see.

My utilization is less than 4% so as they report $0, Util is not the reason for the bump. 

I hope to see a few points for each card reporting $0.

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How much was the point drop from the time you started opening these 10 accounts, to the last of the 10? Meaning, what was your score at the start, then at the finish of the spree when the last card appeared on your CR?

As to going from 9 to 4 reporting, that may result in an increase, so you're saying you went from 9 cards to 4 cards and got a 4 point bump, correct?

I'm leaving out the major issue of 10 new accounts, at least that many INQ hitting the account in a short time, and then starting to age slowly off. That too will result in a score improvement.

I'm skeptical of the identification with 5 --> 4 leads to 4 points, there's too much other going on in your account.

[cem13]

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@Anonymous wrote:

Close out that UM card and your scores will skyrocket  :-)

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haha.  Not a chance my man.  My card has wings, the best looking card in the world.

[cem13]

@NRB525 wrote:

How much was the point drop from the time you started opening these 10 accounts, to the last of the 10? Meaning, what was your score at the start, then at the finish of the spree when the last card appeared on your CR?  My first INQ gained me 3 points.  I lost 5 points on the 3rd INQ.  I lost about 3 points on the 8th card that reported.  My AAOA dipped below 8 years.  So for my bucket, there must be a trigger at 8 years AAOA.

As to going from 9 to 4 reporting, that may result in an increase, so you're saying you went from 9 cards to 4 cards and got a 4 point bump, correct?  Yes.  I charged $10 on this card and $20 on that card so that every card would report.  Starting in May, I would PIF each of the cards.  Today I received a score alert that my balance went to $0 and my score bumped 4 points.  I have 4 cards remaining with a balance ($3300, $120, $20, and $6).  So I will monitor the last three cards as they are reported as $0.  I will keep my main card at about $1000 or 1% utilization and report back.

I'm leaving out the major issue of 10 new accounts, at least that many INQ hitting the account in a short time, and then starting to age slowly off. That too will result in a score improvement.  8 of the 10 INQ occured in Mid-April 2015.  No other INQ aged off.  My oldest INQ is 5 months old so I will check to see if there is anything magic at the 6 month mark.

I'm skeptical of the identification with 5 --> 4 leads to 4 points, there's too much other going on in your account.  There is not much going on.  All the new CC accounts have reported a small balance.  Then I PIF all the CC and today I was alerted that my $0 balance gave me a 4 point gain.  The only other data point is that my AAOA jumped back over the 8 year mark again.  However, I thought the AAOA calculation was performed at the end of the month.  It is too coincidental that a CC reports $0 AND i get a 4 point bump.

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My answers in RED.

[NRB525]

True, it is coincidence, nothing more 

You took a point hit through the apping, net net. Now as your overall file stays quiet, you are getting points back. By age off I don't mean the INQ disappear, rather, they begin to fade away, starting the first month you don't irritate the score again with another INQ.

And as to AAoA? I think you may be putting too much stock into that measure as an influence of your score. At 8 years, it's going to be hard to attribute any score change to years changes.

Your major score pressure is still from that fading BK, unfortunately. Until that (and any associated derogs) are completely off the file, most measures of effect on score are going to be influenced (and reduced in effect you could hope to measure) by that. You are certainly on the right track, and your score will increase, but more from making payments each month and keeping utilization in check, rather than counting cards.

Good luck!