@Anonymous wrote:So I'm aware of the 1 card 1-9% rule, just wondering if that's been tried, true, and tested?
I paid down just about all my cards the last few weeks and their currently reporting as
Merrick- 0/1000
Fairwinds- 0/1000
Cap1 QS- 9/850
Cap1 QS- 377/2000
Discover- 7/1500
Sears store card- 0/500
As you can see, a few cards squeaked through with balances(stupid interest, and a late negative balance on discover, then a transaction going through)
Am I actually NOT maximizing my score here? Besides the fact that it's 6% rather than 1%, with the other 2 cards technically carrying a balance. Could it be even higher? Or is this about as good as it gets? My Equifax is at 669. In a few days my AAoa hits 12 months, if I get those cards to. Zero, with the higher aaoa do you think it'll break 680?
3-8 points, depending on specific score improvement, would be my guess; however, you're pretty good though. You do want at least one card with a small balance, and there's no breakpoint that we're aware of AAOA 1 year as everything under 2 years gets set at 1 year from reports.
Yes it has been tested pretty exhaustively over time, but recently it seems as though it does depend on the number of cards in your profile but even with 9 cards I take a hit at 3 cards reporting a balance compared to either 1 or 2 cards reporting a balance. With six cards you might actually get 2 hits, but they won't be huge hits and therefore not huge gains for cleaning them up.
If you are applying for something in the near future go for it, or if you're just testing optimization on your own file, go for it, otherwise doesn't really matter much.
