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Ouuuccchhhhh. 40 point dings after last car payment.

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Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

If I'm correct, I should wait for 3 cycles to report before requesting more Luv from Disco.

 

What about Cap One? Does timing matter? If I am below 29% aggregate usage, below 45% on Cap one and below 65% on Disco ( or even lower thresholds) would it matter how long I waited before asking again?

 

Those extra boosts could get it below the next threhsold levels quicker, which is why I tried now.

 

Will wait on Synchrony, then perhaps try to bump Amazon from 15K to 20 or 25 after things clear up. They seem to be generous. When from like 3 or $600 on Lowes to 25K in the same day with one phone call in the early stages of rebuilding.

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 21 of 26
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Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

TU has finally updated. As expected, a huge hit. 36 points bringing me down to 720. Scores are now 742/720/741. TU has always been lowest. Will update the 3B report either shortly, or wait for Disco & Cap 1 to report lower balances which have just been paid, then do it.

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 22 of 26
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Frequent Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@mc90403 wrote:

If I'm correct, I should wait for 3 cycles to report before requesting more Luv from Disco.

 

What about Cap One? Does timing matter? If I am below 29% aggregate usage, below 45% on Cap one and below 65% on Disco ( or even lower thresholds) would it matter how long I waited before asking again?

 

Those extra boosts could get it below the next threhsold levels quicker, which is why I tried now.

 

Will wait on Synchrony, then perhaps try to bump Amazon from 15K to 20 or 25 after things clear up. They seem to be generous. When from like 3 or $600 on Lowes to 25K in the same day with one phone call in the early stages of rebuilding.



Disco is hard to figure out.  You can request every day or week or month, etc.  Some have better luck requesting after statement cuts.

 

I don't think CapOne hands out auto denials if you request a CLI too soon after a previous denial.  But it probably wouldn't do any good with them to request more than once a month.



Authorized User
Message 23 of 26
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Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

I've recouped some of the loss...

Paid Cap1 down to 48% from 75%. All 3 now reported, EX got an 11 point boost to 752, EX a 13 point boost to 755, and TU 18 points to 739 (which also included a Synchrony Lowes account which has been at 0 for 3 months and finally updated).

 

Aggregate utlization went from 38% to 34%.

 

When Disco reports (in about 10 days) Disco utilization will cross from a tad under 88% to 65% and aggregate utilization will fall slightly under 28%. That should be enough to drive TU back over 740 (I'm only 1 point off now) and give the rest a boost. After that, I'll have Cap 1 (with a lower balance and higher interest rate) below 48% and Disco ~4K away from 48%. I'd rather get Cap 1 to zero next. With only 4 revolvers & no other open accounts, having half of them report a balance is knocking TU lower (plus it's higher interest, so I want to get rid of it). Should be about 2 months or less before Cap1 goes away. I can chip at Disco in the interim, then by December have it below 48%.

 

At least the light at the end of this tunnel after a 40 point drop across all 3 is not from an oncoming freight train. Based on the simulator I should be at 800 on TU and over on the rest once I get there. Then it's a matter of qualifying financially for a mortgage.

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 24 of 26
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Super Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.


@mc90403 wrote:

 

When Disco reports (in about 10 days) Disco utilization will cross from a tad under 88% to 65% and aggregate utilization will fall slightly under 28%. That should be enough to drive TU back over 740...


You'll get far more than 1 point from 739 to 740 for that.  You're crossing an aggregate utilization threshold (28.9%) which is good on most profiles for 10-15 points and that's not including any individual utilization threshold crossings.  Definitely don't listen to a thing simulators tell you, though.

Message 25 of 26
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Contributor

Re: Ouuuccchhhhh. 40 point dings after last car payment.

After getting Cap1 below 48% and Disco below 65% I Jumped from 742/720/741 to 765/752/766 (EQ/TU/EX respectively).

I figured WTH, no HP in 2 years, so tried for a Lightstream loan (long story, was going to get a new jeep to replace a 2010 & figured an installment loan would help my reports, since it would be at very low util. by the time I was ready for a mortgage). Surprisingly, was approved for a very large amount. The value of the 2010 (either by retail sale or trade in) would be applied to CC balances.

 

I paid Cap1 to zero. Statement just cut, but got hit with interest, so it won't report zero until next round. Nov 4 Disco stmt cuts. It will be 23%, down from 65% on last round. Going to be interesting to see how this shakes out -- A HP (did not see a ding for it) on EQ only, a new installment loan (simulator says I should lose 5 points), agg utilization down to 7%, and AZEO. By the time Cap1 reports Zero (next cut, Nov 19) Disco will be down to 1%.

 

Next, I need a card or 2 more to thicken my file. Something like CSR or Amex Plat. so it pulls EX.Only issue with those is I may be on the naughty list from 10-15 years ago. Will test the waters after everything updates again. Might as well add a few HP now & let them age together, as I am at least a year away from a mortgage app. Waiting to see if I can tag 800 territory first in < 2 months.

FICO 08 Starting Scores (3/7/15) EQ: 694 TU: 702 EX: 659
4/24/2015: EQ: 745 TU: 735 EX: 755
8/7/2015 EQ: 767 TU 765 EX: 778
Message 26 of 26
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